DSNews The homepage of the servicing industry
""Hope LoanPort"":https://www.hopeloanportal.org/ (HLP) announced the launch of the state of Maryland Mediation Portal, the first of its kind in the United States.
[IMAGE]Together with ""GMAC Mortgage"":http://www.gmacmortgage.com/ and the state of Maryland, HLP created the Portal as a way to ease the process by which homeowners can opt in for Maryland's foreclosure mediation program. Before now, homeowners have had to submit paper copies of documents to the state's Office of Administrative Hearings. With the added option of electronic submission through the Portal, it is hoped that more homeowners will take the step to opt in for mediation.
The Portal makes it possible for all mediation participants-including the servicer, the state mediator, the housing counselor, and the foreclosure attorney-to more effectively communicate and exchange information for a successful mediation. Parties can use the Portal to exchange documents for mediation and other key information necessary for the hearing.
""Maryland has led the nation in its swift response to the foreclosure crisis,"" said Governor Martin O'Malley. ""Since 2007, we have worked to preserve homeownership through legislation, supporting resources for homeowners and with extensive outreach. We are moving forward, but we haven't reached the finish line yet. Bringing efficiency and transparency to the mediation process will provide homeowners facing foreclosure with a new opportunity to meet with their servicer and thoroughly review an alternatives to foreclosure that may be available.""
Hope LoanPort is a web-based tool that streamlines processing for foreclosure alternatives. It is a member of the ""HOPE NOW Alliance"":http://www.hopenow.com/.
