HOPE LoanPort, a Web-based housing counselor tool that streamlines the submission of completed loan modification applications, reports that Citi has agreed to use its proprietary technology for assisting homeowners with loan modifications.
Citi becomes the 10th mortgage servicer to sign on to HOPE LoanPort, which was developed by the HOPE NOW Alliance. The company joins other servicer members American Home Mortgage Servicing Inc., Bayview Loan Servicing, Chase, GMAC, Ocwen Loan Servicing, OneWest, PNC Mortgage, Saxon Mortgage Services and SunTrust Mortgage Inc.
HOPE LoanPort also has commitments from more than 250 counseling offices across the country.
"Citi was an early supporter of the HOPE Now Alliance and the administration's Making Home Affordable programs, and has continued to develop and implement additional assistance programs to help struggling homeowners," says Sanjiv Das, president and CEO of CitiMortgage Inc. "We look forward to participating in the HOPE LoanPort initiative, which will arm us with another important strategic tool to help distressed borrowers."
SOURCE: HOPE LoanPort