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Hawaii Launches Mortgage Foreclosure Dispute Resolution Program
Date : 10/12/2011 @ 12:00AM Source : Business Wire
Stock : Hawai‘i Information Consortium, LLC (EGOV)
Quote : 11.93 0.0 (0.00%) @ 8:30AM



Hawaii Launches Mortgage Foreclosure Dispute Resolution Program
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Today : Wednesday 12 October 2011
The Hawai’i State Department of Commerce and Consumer Affairs (DCCA) unveiled the Mortgage Foreclosure Dispute Resolution (MFDR) program, designed to offer owner-occupants of residential property in non-judicial foreclosure the opportunity to meet directly with their lenders to modify their loans or work out an alternative to the foreclosure process.

“The Mortgage Foreclosure Dispute Resolution program came to be through the collaborative efforts of all three branches of government – executive, legislative, and judicial,” said Keali’i Lopez, Director of Commerce and Consumer Affairs. “In addition, the program is a key feature of the Abercrombie Administration’s ongoing commitment to invest in the people of Hawaii and may help prevent homeowners from losing their homes.” The MFDR program is the primary component established under Act 48 (Session Laws of Hawai’i 2011) which sought to implement a comprehensive strategy to reform the foreclosure process in Hawai’i. The program will be funded by fees paid by participating lenders and owner-occupants. Under Act 48, MFDR was required to commence on October 1, 2011, and will continue until September 30, 2014.

Starting today, lenders may begin submitting non-judicial foreclosure notice filings through the program’s website, http://mfdr.ehawaii.gov. To use the electronic filing system, a required subscriber account may be obtained by registering at http://portal.ehawaii.gov/subscriber-services.html.

Comprehensive answers to “Frequently Asked Questions” about the MFDR program are available at the following link or by calling 808-586-2886: http://hawaii.gov/dcca/oah/mfdr/mortgage-foreclosure-dispute-resolution-mfdr-program.

The MFDR online application was developed at no cost and is maintained via the eHawaii.gov program, a largely self-funded public-private partnership between the State of Hawai‘i and Hawai‘i Information Consortium, LLC. This partnership has allowed Hawai‘i to deploy award-winning applications such as: Hawaii Electronic Bench Warrants, Statewide Camping Permits, Hawaii Business Express and Online Motor Vehicle Renewals. Hawai‘i Information Consortium also recently redesigned websites for the State Energy Office, Hawai‘i State Judiciary and Hawai‘i County Public Works.

About ehawaii.gov

Hawai‘i’s official Internet portal, http://www.eHawaii.gov, is managed by Hawaii Information Consortium, LLC, a Hawai‘i corporation and wholly owned subsidiary of eGovernment firm NIC Inc. (NASDAQ: EGOV). Hawai‘i Information Consortium works with Hawai‘i state and county government agencies to enable them to conduct state business online and improve public access to government information.

About NIC

NIC Inc. (NASDAQ: EGOV) is the nation's leading provider of official government portals, online services, and secure payment processing solutions. The company's innovative eGovernment services help reduce costs and increase efficiencies for government agencies, citizens, and businesses across the country. NIC provides eGovernment solutions for more than 3,000 federal, state, and local agencies across the United States. Additional information is available at http://www.egov.com.