The Department of the Treasury and the
Department of Housing and Urban Development
encouraged leaders in the lending industry,
investors and non-profits to form this alliance.
Alliance Action Plan
The alliance will conduct a new, national direct
mail campaign to contact at-risk borrowers,
encouraging them to either call their lender or a
credit counselor.
This alliance has agreed to adopt a standard
process model that will strengthen and speed work
flow, productivity, and communications between
servicers and counselors.
The alliance will work to expand the capacity of an
existing national network to receive, assess,
counsel, refer, and connect borrowers to servicers.
The American Securitization Forum, which
represents servicers, investors, and other
secondary market participants, has announced that
counseling fees can be reimbursed from
securitization transactions in appropriate
circumstances.
The alliance will develop common communications
guidelines that will be used to respond to at-risk
borrowers in order to offer them the best possible
solutions, customized for each borrower.
The servicers have agreed to work toward
cross-industry technology solutions to more
effectively connect servicers and counselors
together in order to better serve the homeowner.
The alliance will develop a common set of metrics
to measure the initiative's progress.
| What is the HOPE Now Program? |
| HOPE NOW Program |
HOPE NOW is an alliance between counselors,
servicers, investors, and other mortgage market
participants. This alliance will maximize
outreach efforts to homeowners in distress to
help them stay in their homes and will create a
unified, coordinated plan to reach and help as
many homeowners as possible. The members of
this alliance recognize that by working
together, they will be more effective than by
working independently.
servicers, investors, and other mortgage market
participants. This alliance will maximize
outreach efforts to homeowners in distress to
help them stay in their homes and will create a
unified, coordinated plan to reach and help as
many homeowners as possible. The members of
this alliance recognize that by working
together, they will be more effective than by
working independently.