| HUD Borrower Outreach Days |
| Sunday, 12 August 2007 | |
|
The following email was received from C. William Cosgrove President, Ohio Mortgage Bankers Association (OMBA) regarding the upcoming "Borrower Outreach Day" to be convened in Cleveland.
Subject: Borrower Outreach Days Date: Fri, 10 Aug 2007 11:15:38 -0400 From: "OMBA" omba@ohiomba.org OMBA Campus Members: The following letter comes from Kimberly Zurz, Ohio's Director of Commerce. It is important for the OMBA to have a presence at each of the events. If you or a representative of your company plans to attend a Borrower Outreach Day, please notify the OMBA office. Sincerely, C. William Cosgrove President, OMBA I'd like to thank you for your continued work to help Ohio fight foreclosures and share with you an exciting initiative we're planning with HUD for later this month. I've mentioned to many of you our plan to reach out to distressed borrowers and citizens across the state, and while we're finalizing our plans for Borrower Outreach Days, I'm asking for your help. For those of you I haven't talked to, Borrower Outreach Days will be forums where borrowers will be invited to work directly with their servicers and to receive loan counseling. There will also be opportunities for them to learn about foreclosure prevention, refinance options, legal rights, loss mitigation, and credit counseling. We intend to hold five events that will take place in Northeast, Northwest, Southeast, Southwest, and Central Ohio. The first event will take place in Cleveland at the Renaissance Hotel on Public Square on Thursday, August 30, 2007 from 2 p.m. to 8 p.m. The dates, times, and locations for the other four events have not yet been finalized. To demonstrate your willingness to work with your borrowers, I'm asking that you not only plan to send a representative(s) from your loss mitigation division to as many of the Borrower Outreach Days as feasible, but also that you reach out to your borrowers to encourage their attendance and offer them an incentive to attend. We strongly encourage you to consider offering a monetary incentive such as waiving late fees, prepayment penalties, or attorney fees as an incentive for borrowers to attend. Additionally, Governor Strickland will be providing you with a letter that we ask you to send to your troubled borrowers in Northeast Ohio notifying them of the Borrower Outreach Day in their area. The Governor's office will be printing the letters and forwarding them to you in sealed envelopes for you to address and mail to your borrowers who could benefit from attending. A copy of the letter is attached. Also attached is a tentative agenda for the first of these events. I would appreciate if you would determine how you are willing to help your borrowers who attend Borrower Outreach Days and let me know by Tuesday, August 14, 2007 what your financial incentive or incentives will be. Please return the attached RSVP form to Jennifer Flatter at jennifer.flatter@com.state.oh.us . If you have any questions regarding Borrower Outreach Days, please do not hesitate to contact Jennifer by email or by phone at 614.644.0161. I very much appreciate your assistance. Kimberly A. Zurz
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