GMAC Mortgage launches loan mod portal

Robo-signing settlement requires similar efforts by other servicers

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Loan servicer GMAC Mortgage has launched a Web portal, HomeownerConnect.org, that allows struggling borrowers to apply for loan modifications and other foreclosure alternatives online.

The site is a joint effort with Hope LoanPort, a Web-based portal launched in 2010 by the HOPE NOW Alliance of loan servicers to streamline the collection of loan modification applications. Both Homeowner Connect and Hope LoanPort are powered by IndiSoft’s RxOffice, a Web-based tool that streamlines home retention applications from at-risk borrowers.