In August, we reported that the Nevada legislature revived the state’s foreclosure mediation program by passing Senate Bill 490. One of the most notable changes Senate Bill 490 brought to the program included the transfer of program management duties from the Nevada Supreme Court to the Nevada District Courts and Home Means Nevada, Inc., a state affiliated non-profit that was created to address challenges and needs of distressed homeowners. As Home Means Nevada describes, under this new structure when an individual receives notice of default, they will then petition the District Court to participate in mediation. The District Court will then assign a mediator to mediate the case and Home Means Nevada will work closely with the courts and mediators to ensure a successful program.
This month, Home Means Nevada announced that it has selected Hope LoanPort’s® (HLP) web-based platform as the designated channel to administer the program. Founded in 2009, HLP was initially created to help solve the foreclosure crisis by developing a web portal where non-profit credit counseling agencies, attorneys and homeowners could apply for a loan modification or other solution. Today, the HLP platform has become a one-stop shop for homeowners nationwide to send documents to their mortgage companies. As Business Wire reports, the HLP portal will be the designated channel through which Home Means Nevada will administer the foreclosure program. As United Trustees Association reports, the HLP portal will streamline the document sharing process and will afford parties the opportunity to see and receive updates for their case in real time.
The HLP platform will be implemented in several stages with the first phase scheduled to launch July 1, 2018. The HLP Nevada Foreclosure Mediation page can be accessed here and contains updates, information on registering, and access to HLP platform training for counselors, servicers, and attorneys.