From: Brad Dwin [brad@hopenow.com]
Sent: Friday, March 12, 2010 1:55 PM
To: Brad Dwin
Subject: HOPE NOW News Release (03.12.10): HOPE NOW Applauds Latest HAMP Report from Treasury

 

 

 

 

 

 

 

 

March 12, 2010

 

Media Contact:

Brad Dwin

(410) 303-6391

brad@hopenow.com

 

 

HOPE NOW PLEASED WITH LATEST TREASURY LOAN MODIFICATION REPORT

 

Alliance to Continue to Ramp up its Collaborative Efforts with the Government to Keep Borrowers in Their Homes

 

(WASHINGTON, DC) – The HOPE NOW Alliance applauded the results contained in the latest report on the Home Affordable Modification Program (HAMP) February data, issued today by the United States Department of Treasury.

 

Faith Schwartz, Executive Director of HOPE NOW issued this statement:

 

“We are obviously very pleased to see that the number of permanent HAMP modifications increased significantly from January to February. HOPE NOW’s servicer members have worked very hard with the government in order to make trial loan modifications become permanent ones, and their efforts clearly paid off in February.

 

In 2010, we will continue to work with the government to help it achieve its goals for both trial and permanent modifications. With our enhanced face to face outreach efforts, coupled with HOPE LoanPort™, our counselor-based web portal which allows servicers to receive completed HAMP packages in timely manner, we fully expect to see continual increases in the number of HAMP trial modifications becoming permanent.

 

Additionally, we will be issuing our own non-HAMP data shortly which we believe will reinforce the fact that the industry’s efforts are showing significant progress across the board.”

 

HOPE NOW is the industry-created alliance of mortgage servicers, investors, counselors, and other mortgage market participants, brought together by the Financial Services Roundtable, Housing Policy Council and Mortgage Bankers Association, that has developed and is implementing a coordinated plan to help as many homeowners as possible prevent foreclosure and stay in their homes. For more information go to www.HopeNow.com or call the free Homeowner’s HOPE™ Hotline at (888) 995-HOPE.

 

The following companies are members of the HOPE NOW Alliance:

 

American Home Mortgage Services Co.

ASSURANT GROUP

Aurora Loan Services, Lehman Brothers

Bank of America

Bayview Financial

Carrington Mortgage Services

CITIGROUP

Fannie Mae

Freddie Mac

First Horizon

Genworth

GMAC

HomeEq Servicing

HSBC USA

JP MORGAN/CHASE MANHATTAN

Litton Loan Servicing

Loan Care

Marathon Asset Management

METLIFE

MGIC

Mortgage Electronic Registration System

NATIONAL CITY

Nationstar Mortgage LLC

Ocwen Loan Servicing

OneWest Bank

PMI Group, Inc.

Quicken Loans

Radian

Residential Credit Solutions

RoundPoint Financial Group

Saxon Mortgage Services/ Morgan Stanly

Select Portfolio Servicing

State Farm

Strategic Recovery Group

SunTrust

Vericrest Financials

Wells Fargo

Wilshire Credit Corporation, ML Home Loan

 

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