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HLP Announces Next Generation of Homeowner Connect February 2017

To make requests for mortgage assistance simpler, faster and more effective for consumers and servicers, HLP announced plans for a June launch of its next generation platform of Homeowner Connect, its consumer direct portal.

Take 5

The four-year-old portal—used now by 15 different servicers—enables consumers to apply directly to their mortgage company for a variety of workout options and provide the required information and documents. But HLP is working on a new platform which will incorporate a wide range of new technology, making it easier for consumers to file their application.

Highlights from the HLP reception at the Mortgage Bankers Association’s annual Servicing Conference in Dallas Page 2

Audit Completed Independent confirmation our policies and procedures are meeting secure operating standards Page 3

“Servicers need a better strategy to engage their customers,” said Cam Melchiorre, HLP’s chief executive officer. “The new Homeowner Connect will help them build customer loyalty through superior customer service and simpler processes. It will also provide better ways for servicers to integrate counselors into the process and manage fee-for-service relationships.” Homeowner Connect’s new version will include telephone and live chat and automated tools to pull together the key pieces of information needed to apply and get a decision. In …continued on page 4

US Bank Agrees to Use HLP’s Foreclosure Mediation Portal

Quick 6

US Bank has agreed to employ HLP’s Foreclosure Mediation portal nationwide as part of a strategy to resolve their mediation cases more quickly and at less cost. The bank plans to go “live” with HLP’s portal in March.

A quick look at six facts HLP leaders learned at the Mortgage Bankers Association’s Servicing Conference

US Bank is one of the nation’s largest mortgage servicers and may use the portal to help resolve hundreds, possibly thousands of cases this year. Its servicing portfolio was $288 billion at the end of 2016’s third quarter.

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To clear the backlog of foreclosure cases, 27 states require and encourage mediation in conjunction with the judicial foreclosure process. HLP’s portal has been used in more …continued on page 3


HLP Reception at MBA Servicing Conference HLP hosted servicing sector leaders at the Mortgage Bankers Association’s annual Servicing Conference February 14-17 in Dallas. HLP Chief Executive Officer Cam Melchiorre, Executive Vice President Mark Cole and Business Development Manager Jon Ballard conducted a series of meetings, hosted a reception and also met with several representatives of the new HLP Servicer Advisory Council to brief them on the council’s 2017 agenda

Scott Rodeman of US Bank and Marisa

Nitin Dave of Southern Trust and Sanjeev

Jon Ballard stayed

Barker of Nationstar attend the HLP Ser-

Dahiwadkar of IndiSoft discuss the benefits

busy listening to leaders

vicer Advisory Council meeting.

of the HLP platform for prospective custom-

about how their needs

ers with Cam Melchiorre.

are changing in the new servicing world.

Denis

Brosnan of Dimont, Mike

Drowdy of Penny Mac and Dana HudThe Gaylord Texan Resort in Grapevine,

dleston of Caliber at a breakout session

Texas was the site of the conference.

hosted by HLP.


HLP Completes 2016 Independent Audit HLP recently completed its annual independent audit, which is part of its annual risk review required by HLP’s board of directors.

Bernstone

The audit’s purpose is to bridge the gap between a SOC Type 2 review—which examines the technology and operations in the data center—and the ISO 27001 certification maintained by HLP’s developer IndiSoft. The exam’s parameters are updated annually to meet the needs of a changing operational and technology environment so HLP can comply with industry risk standards.

“The independent audit is essentially a risk assessment of our office operations and technology,” said Louann Bernstone, HLP’s senior vice president of risk, governance and compliance. “It reassures HLP’s senior management and board of directors, as well as servicers, that our operating environment, policies and procedures meet the secure operating standards set forth by our partners.” …Foreclosure Mediation–continued from page 1

than 25,000 mediation cases nationwide and its technology platform meets the requirements for each of the 27 states. Because a servicer may handle hundreds or thousands of cases in a variety of states, the portal also provides confidentiality to key parties in each case. An attorney for a servicing company can only view documents on cases where they are assigned. Here are the portal’s additional features and benefits:

Key Benefits Easily communicate, exchange data and documents. • Multi-Party Collaboration Platform. The platform supports up to 7 different stakeholders working together on one case. • Track Progress in Real-Time. All parties can view the status of a case and any updates made by another party in real-time. This increases timely resolution of cases by reducing mediation session cancelations. • Exchange Data. Seamless, bi-directional exchange of data, documents and messages between all parties. Complete transparency and security. • Communicate Securely. Any information can be shared safely in a secure communications channel. Our

Navicore, Springboard to Use HLP.guru. Two national HUD-approved nonprofit counseling agencies will become “gurus” for many lucky prospective homeowners thanks a grant from the Wells Fargo Housing Foundation. Navicore Solutions and Springboard have agreed to enroll a select number of their clients in HLP.guru as part of the grant. These two agencies are among the largest nonprofit counseling agencies in the nation. New Jersey-based Navicore and Springboard, based in Riverside, California, have offices in several states and serve consumers across the nation.

data center obtains an annual SOC 2 audit and undergoes quarterly PCI scanning. In addition, we perform onsite and remote external audits and penetration testing. •  Build a Permanent Audit Trail. None of the documents, messages and case notes entered into the system can be deleted. Errors are reduced because there are no lost or disputed documents. • Robust Reporting. The portal provides custom reports and data export capabilities. Allows users to pull reports to track performance or assess progress on multiple data points, such as case type, agency, and document acceptance. Provides servicers with flexibility and control over each case. • Configurable for Your Program. Each jurisdiction can set the key program parameters, such as who starts the case or the specific time frames allowed for each step. • Standardizes Requirements. Set the data, documents and business rule requirements for your specific program and ensure that all parties adhere. • Individual Control. Each party has rights to input, update and control their information

HLP.guru is HLP’s new app that teaches consumers how credit works and the specific steps needed to obtain homeownership. It connects a tech-savvy generation of consumers with advanced analytics about a person’s credit score, borrowing capacity and other critical information to help them become homeowners. Once a person is enrolled in HLP.guru, they have access to a nonprofit housing counselor—their guru—to help them design a plan to qualify for a mortgage loan. The Wells Fargo Housing Foundation grant will pay for the cost of enrolling consumers in HLP.guru and paying the cost of the guru’s services.


…Homeowner Connect–continued from page 1

addition, consumers will also be able to simply contact a servicer to request help or submit an application with less information than is required now to start the loan modification process. For consumers that start the process themselves but then need help, Homeowner Connect will give them free access to a HUD-approved nonprofit counselor to assist them, via online chat or telephone. The new platform will also enable counseling

agencies that are working with their clients to receive payment from participating servicers by filing an invoice on the platform. Servicers will play a major role in designing the new platform. A committee consisting of top industry leaders from HLP’s new Servicer Advisory Council met in mid-February and will meet again in March to provide recom­mendations. The platform’s initial requirements will be finalized in April and pilot tests will be conducted in May.

 LP executives attended the MBA Servicing Conference February 14-17 in H Dallas. Here are six quick facts from the conference: 1 H ow CFPB uses consumer complaints: Speaking during the “Preparing for Servicing Exams” session, Consumer Protection Bureau senior analyst Ann Thompson said that the CFPB uses the complaint database as a guide for determining whether to pursue an exam against a particular company. 2 A  ppraisals lower than consumer’s perceptions. Quicken Loans’ National Home Price Perception Index showed the average appraisal value was 1.47 percent below what owners expected in January. This was the second consecutive month that the index declined. 3 D  elinquency rates rise. MBA says that delinquency rates for mortgage loans rose to 4.8 percent for loans on one-to-four unit residential properties in the fourth quarter after hitting 10-year lows the previous quarter. 4 Foreclosures drop. The percentage of loans on which foreclosure actions started during the fourth quarter fell to 0.28 percent, a decrease of two basis points from the third quarter and an eight basis points drop from one year ago. This represents the lowest rate of new foreclosures started since fourth quarter 1988. 5 Refinancings plummet. Refinance volume now stands at its lowest level since June 2009. A slowdown in refinancing pulled down the total mortgage application volume in mid-February as changes to certain government-loan programs made refinances less lucrative. 6  Interest rates will gradually rise. MBA economist Dr. Lynn Fisher projects that 30-year mortgage interest rates will stay under 5 percent by 2017’s fourth quarter. She predicts rates will rise to approximately 5.1 percent by 2018’s fourth quarter and 5.5 percent by the end of 2019.

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—February 2017  

News and Information from HLP. In this month’s issue features HLP at the annual MBA Servicing Conference in Dallas.