How current events impact your business and real estate holdings

Friday, August 23, 2013

Short Sales & Deeds in Lieu added to Hope LoanPort

In offering their organized and systematic portal from modifications to Deeds in Lieu and Short Sales hopefully homeowners will realize increased success.

Today, our firm received this email:

Hello Hope LoanPort Partners,
We have responded to request from portal users by adding a robust processing platform for liquidation workouts, intended to match our existing functionality for retention workouts.  Such a liquidation portal requires significant development to not only allow for short sales and deeds in lieu as workout types, but also include system availability for liquidation-specific documents, statuses, and data fields.

We released a pilot program of the liquidation case type back in the spring.  We are now proceeding with a release of the Liquidation functionality for all registered housing counselors and authorized third-party representatives.  Effective with our upcoming system release on August 30, all counselors registered with the portal will have access to submit Liquidation cases.  This functionality will be limited to those select servicers who will be accepting these cases.

Participating Servicers: Select Portfolio Services; Nationstar; M&T Bank; Caliber; LoanCare; RCS; HSBC; Ocwen; Resurgent; Bayview

When processing a Liquidations case, users will need to be familiar with the enhancements to HLP, such as:

New Case Type: Liquidation
New Case Statuses: Property Listed, Offer Tendered, Short Sale Approved, Short Sale Denied, Offer Rejected, etc. (See PDF for full list*)
New Document Types: Listing Agreement, Appraisal, BPO, etc. (See PDF for full list*)
New Data Fields: Seller Realtor Name, List Price, Closing Date, Title Company, etc. (See PDF for full list*)
*A PDF overview of all items and can be viewed from this link.

We will be issuing system Release Notes in advance of the anticipated go-live date of August 30.

If you would like to request additional training on the liquidation case type, please contact Nora Conklin, Hope LoanPort Project Coordinator, at
Samantha Sue Friedman - Director of Product Development & Delivery