More than 111,000 referrals were issued last month to consumers seeking financial counseling assistance, which is a 47% increase from a year ago and 13% higher than December.
The Downers Grove, Ill.-based company attributes the recent growth to an improved user interface for its MKDesktop product, the addition of more markets and categories to its database, as well as a growing subscriber base.
Counselors and servicers who subscribe to MortgageKeeper’s database receive access to a list of nonprofit and government agencies in seconds that can assist consumers manage their financial needs, such as paying their utility bills, locate inexpensive child care or uncover other sources of assistance which may keep them from defaulting on their mortgages. Often, the agencies are located within a few miles of the homeowner.
MortgageKeepers Referral Services said users throughout the country search for mortgage assistance about 1,000 times every day. As a result of these searches, the database responds by providing more than 3,500 community resource referrals, the company noted.
“Consumer demand for our products and the referrals to resources is the foundation for our growth,” said Rochelle Nawrocki Gorey, president of MortgageKeeper Referral Services.
“Struggling families continue to face high debt and increasing costs for fuel and food—and try to stay above water with persistently lower incomes.”
Currently, MortgageKeeper Referral Services subscribers include Bank of America, Homeward Residential, Ocwen Loan Servicing and the Homeownership Preservation Foundation’s HOPE hotline. MortgageKeeper also makes local resources available on Hope LoanPort’s “Homeowner Connect” website.