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Nevada Selects HLP for Foreclosure Mediation April 2018

Home Means Nevada HLP has been selected to develop a communications platform for the state's foreclosure mediation Page 1

Jones Takes 5 Michelle Jones, answer questions about how MMI adapts to meet customer's varying needs Page 2

Show Me The HLP.guru app can help prospective homebuyers simulate the impact of different financial behaviors on their credit scores Page 3

The state of Nevada has chosen HLP to develop and operate the communications technology for its foreclosure mediation program. HLP recently received the good news from Home Means Nevada, a state-affiliated nonprofit organization that oversees the mediation program. After Nevada passed legislation in mid2017 making foreclosure mediation a permanent program, Home Means Nevada issued a Request for Proposals for a new communications platform, leading to HLP’s selection. “Our ability to configure technology to meet the state’s specific needs will enable them to operate smoothly and efficiently while helping distressed homeowners throughout Nevada,” said Mark Cole, HLP’s chief executive officer. “We are extremely pleased to be chosen by the state of Nevada and look forward to making Home Means Nevada the national standard for foreclosure mediation.” Nevada has 11 district courts and Home Means Nevada wanted each court to have local jurisdiction over foreclosure mediation cases. HLP’s technology will do just that, enabling each court to assign a mediator to a case and to deliver results of all cases, documentation and messages to the Home Means Nevada staff. In addition, each of the 11 district courts will be able to control specific processes as part of the mediation process. These include: • Stakeholder access privileges, restrictions and action milestone requirements; • Messaging among all parties; • Documentation and form requirements; • Timeline service level agreements; • Task and meeting schedules and Critical Step Monitoring • Management reporting and auditing Once a mediator is assigned to a case, they can access contact information for the stakeholders, view the case status and communicate messages, notes, documents and meeting schedule information. The mediator will also be able to upload documents and reports. Home Means Nevada also requested the ability to monitor calendars for all 11 districts. Each district will have a calendar of all mediation functions, which rolls up into a statewide calendar. The new law gives affected homeowners 30 days to choose mediation after being served a notice of default. If the homeowner declines mediation, the state will use HLP to issue a certificate to the lender to begin foreclosure proceedings


Michelle Jones is the Chief Development Officer for the nonprofit credit counseling organization Money Management International and Executive Director of the Clearpoint division. She is responsible for MMI’s fundraising and philanthropic development and leads the organization’s external affairs, business development, and customer service delivery teams.

MMI and HLP are helping first-time homeowners with CBC Mortgage in Utah. What are your goals? The CBC Mortgage program provides new homeowners with coaching throughout their first year. Our goal is to help them build a solid, actionable financial plan that improves longterm financial capability and reduces the likelihood of future default. By regularly engaging with our counselors, homeowners will be supported as they develop and implement their financial plan. It will produce more financially confident borrowers and a lasting positive impact on the community.

How does MMI help disabled military veterans obtain housing? A central component of MMI’s housing services is to promote safe and stable housing. We also have a very active veterans’ program, so combining those two areas in a meaningful way is a great opportunity. We were pleased to be awarded a grant under HUD’s Fair Housing Initiatives Program (FHIP). Homeless and transitioning veterans are often victims of housing discrimination due to disabilities, use of service animals, perceptions related to PTSD risk, and other challenges. This program will educate veterans on their fair housing rights by bringing together organizations with expertise in outreach, education, and fair housing.

How are HLP and MMI helping mortgage servicers reduce their costs? Counselors and servicers interacting in real time through HLP’s technology allows borrowers to get the support they need. As borrowers indicate changes in their finances,

MMI can provide counseling and share information with servicers, opening solutions to borrowers before they fall behind. It also gives counselors the ability to prepare borrowers for loan changes before they go into effect, reducing delinquency as borrowers adjust to their new budgets as homeowners. Efforts can be tailored to the needs of each borrower.

Are consumers seeking more help online than in the past? We are serving more people online than ever before. MMI continues to adapt to our clients’ needs and address the changing pain points in their financial journey. We have integrated what we have learned into the design of our new website, which launches later this year. Our new site will be fully optimized for mobile and more intuitive, allowing us to guide more consumers towards sound financial choices and living their best lives.

What are the major financial issues for your clients in 2018?

Lack of savings continues to be a concern. Personal savings is just shy of its all-time low, while credit card, student loan, and auto lending all finished 2017 at all-time highs. About one-third of our clients have student loans, with their total unsecured debt exceeding $75,000. Meanwhile, income and homeownership rates are stagnant. We are committed to helping them beat the odds by creating a life of financial wellness through empowered choices, including effective debt-reduction and savings strategies.


Need a Quick Technology Fix? HLP Can Help Mortgage servicers seeking quick help to develop a technology solution can now turn to HLP. It usually takes 30 days or less for HLP to implement one of our standard solutions, such as Homeowner Connect, our direct consumer portal, or our Disaster Assistance platform. After Hurricanes Irma and Harvey made landfall last summer, HLP and our technology partner, IndiSoft, delivered a Disaster Assistance platform within two weeks that was quickly adopted by several mortgage servicers to help them communicate and help distressed homeowners. In addition, we can often develop these solutions at prices that are 75-80 percent lower than other options while reducing risk and sharing key learnings from our industry.

HLP.guru Simulator Helps Homebuyers Understand Credit Scores

Before You Get Started take a look at what makes up your credit score

Credit Score Factors

Percentage of Score

Your Payment history, late payments and number of days late

One of the unique features of our HLP.guru app is how it helps prospective homebuyers simulate the impact of financial behavior on their credit scores. Using the simulator educates consumers on how their actions and behaviors impact their credit scores and ultimately their ability to qualify for mortgage loan.

Total debt, including the amount you owe each credit card compared to the credit limit for each card

Length of time you’ve had each card

Types of credit—credit cards, mortgage, auto loans, student loans etc.

The simulator lets people test different examples of credit behavior to see how it would change their credit score. For example, a person can see how their score is affected if they open a new credit card and then transfer part of the balance from an existing card to the new account. They can also see the unfavorable impact on their score from making even one late payment, or the positive impact of paying more than the required minimum balance. Finally, they can see the long-term benefits of making regular payments on time for an extended period.

Amount of new credit and recent credit inquires.

Test Examples in the Simulator and see what could happen to your score

Open a new credit card and then transfer some of the balance from an existing card that is close to its limit. Scores are often better when you use 30% or less of each credit card’s available credit line.

If you want to find out more about how HLP.guru can help your company attract more first-time homeowners, contact Mark Cole at Mark.Cole @hlp.org.

Raise the credit limit on an existing so you are using less than 30% of the available credit.

Pay a little more than the required monthly minimum on a credit card.

Pay your accounts on-time over an extended period of time.

Close a credit card. Learn if it is a good or bad idea.

Allow one monthly account to become past due. One late payment could mean bad news for your credit score.

Once you start using the simulator, you may be surprised at some of the things you will learn—often small changes can have a measureable impact. Ready to get started? Just click below to put HLP to work for you!

mark.cole@hlp.org

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202.803.7933

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100 International Drive

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23rd Floor

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Baltimore, Mar yland 21202

HLP News — April 2018  

News and updates from HLP. In this issue we look at why the state of Nevada chose HLP to develop and operate communication technologies for...

HLP News — April 2018  

News and updates from HLP. In this issue we look at why the state of Nevada chose HLP to develop and operate communication technologies for...