In an effort to expedite loan modifications several states have begun to use an automated portal to lenders participating in the HOPE NOW program.  Last week Maryland inaugurated the service with 8 lenders and 100 non-profit loan modification counselors.  Maryland is the first state to endorse the program.

The servicers participating in the streamlined loan program are American Home Mortgage Servicing, Inc., Chase, Bayview Loan Servicing, Ocwen, GMAC, Saxon Mortgage Services, SunTrust, and PNC Mortgage.

The program is designed to make submission of paperwork more efficient in order to eliminate the concern that modifications are frequently delayed because of lost files.