US Bank is partnering with HLP to use the company’s web portal and software offerings in its foreclosure prevention and loss mitigation efforts, joining Ditech Financial and 19 of the 20 largest mortgage servicers in the country that currently use HLP’s services.
HLP, which is formerly known as Hope LoanPort, is a nonprofit based in Baltimore that allows consumers and nonprofit housing counselors to submit electronic applications for loan modifications and all supporting documents and track their progress throughout the modification application process.
According to HLP, US Bank’s used of its software will be one of the broadest deployments of its platform today date.
In a release, HLP said that US Bank has agreed to use HLP throughout its loss mitigation operations nationwide, which will enable the bank to streamline communications and document exchange for homeowners and HUD-certified nonprofit housing counselors that represent them.
According to the release, HLP will be the preferred channel for US Bank for the submission, review and disposition of foreclosure alternative packages, including documents and communications for the various state foreclosure mediation processes.
Additionally, US Bank will give consumers the option of submitting documents and communicating via HLP’s national consumer-direct portal.
“We are pleased to participate in the HLP collaborative platform as we continue to improve the experience of consumers and their authorized representatives seeking foreclosure relief, particularly the thousands of HUD-certified nonprofit counselors already using HLP to interact with the mortgage servicing industry,” said Scott Rodeman, senior vice president of mortgage servicing default operations at US Bank.