HOPE NOW Website Enhanced to Provide Homeowners With New Online Assistance Intake Form

WASHINGTON, DC--(Marketwire - March 9, 2009) - HOPE NOW, the non-profit alliance of mortgage servicers, not-for-profit counselors, investors, and other mortgage market participants, today unveiled a redesigned and enhanced website (www.HopeNow.com) that provides an important new way for homeowners with mortgage concerns to connect directly with their mortgage servicer and receive help faster.

The website features a new online Assistance Intake Form, which a homeowner may use to submit an application for assistance to his or her servicer. The homeowner then will receive an acknowledgement of the application in no more than five to seven business days and so will have confirmation that the process has begun.

The Assistance Intake Form and enhanced website was developed by HOPE NOW in preparation for the Obama administration's recently announced Homeowner Affordability and Stability Plan. The new enhancements will allow HOPE NOW to handle the expected large increase in the number of homeowners requesting assistance.

The Assistance Intake Form means that homeowners will be able to transmit the information needed by their servicer at any time of the day or night. That will expedite the process, something that will be especially important to the most at-risk homeowners who often have to act quickly to avoid an unfortunate outcome.

The new website, which provides interactive ways for homeowners to connect with servicers and counselors, is an addition to the existing Homeowner's HOPE™ Hotline (1-888-995-HOPE) created and operated by the Homeownership Preservation Foundation.

"HOPE NOW's enhanced website will make it even easier for homeowners at risk of foreclosure to start the workout process and will allow servicers to assess each homeowner's needs much more quickly," said Faith Schwartz, HOPE NOW's executive director. "We want to do everything possible to make sure that every avoidable foreclosure is actually prevented."

"Homeowners will see immediate benefit," said Ed Delgado, senior vice president at Wells Fargo and chairman of the HOPE NOW Technology Committee that developed the new Assistance Intake Form. "This is the first broad industry application to transmit homeowner information directly to servicers. Not only will this greatly expedite the mortgage assistance application process, it also will make it possible for servicers to respond and develop a solution more quickly. This is a win for everyone involved."

To learn more about the Administration's Homeowner Affordability and Stability Plan, visit www.FinancialStability.gov.

ABOUT HOPE NOW

HOPE NOW is the industry-created alliance of non-profit counselors, mortgage servicers, investors, and other mortgage market participants that has developed and is implementing a coordinated plan to help as many homeowners as possible prevent foreclosure and stay in their homes. For more information go to www.HopeNow.com

ABOUT THE HOMEOWNERSHIP PRESERVATION FOUNDATION

Founded in 2004, the Homeownership Preservation Foundation (HPF) is a 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. HPF partners with city, county and state governments; federal government agencies; community-based nonprofit organizations; and mortgage companies to offer creative solutions to preserve homeownership. HPF's cornerstone service is the Homeowner's HOPE™ Hotline, a foreclosure prevention counseling service available in English, Spanish, and 18 other languages available free to homeowners by calling 888-995-HOPE. For more information about the Homeownership Preservation Foundation or the Homeowner's HOPE™ Hotline, visit www.995hope.org.

Contact Information: Media Contacts: Kara Ross (202) 683-3117 Kate McGann (202) 683-3143