Yardi Introduces Mortgage Relief – the Homeowner Assistance Fund Software Connecting Homeowners and Agencies
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After the success of the Rent Relief platform in managing more than $1B in emergency rental assistance payments, Yardi launches Mortgage Relief — a Homeowner Assistance Fund software dedicated to managing applications, payments and funds. The all-in-one platform enables homeowners to apply for mortgage assistance, as well as helping government agencies distribute American Rescue Plan Act funds effectively.
What is Mortgage Relief, the HAF Software Powered by Yardi
Mortgage Relief allows for accessibility and transparency leading to more effectively disburse funds to help households that have experienced financial hardship due to COVID-19 and are in need of mortgage relief. Designed to help state and other agencies manage and distribute funds, Yardi’s cloud-based HAF software is also aimed at homeowners who can apply for mortgage assistance online and view their application status in real-time.
“Mortgage Relief provides a seamless way to collect applications, manage cases, make payments securely and monitor program performance,” said Jeff Bischoff, senior director of sales at Yardi.
It’s important to note that the Yardi Homeowner Assistance Fund software allows applications for homeowner assistance to be submitted by either a homeowner or a lender on behalf of the homeowner. In general, funds will be paid directly to utility providers and mortgage holders on a case-by-case basis.
Yardi developers focused on user-friendliness and flexibility. For example, the application portals are mobile-friendly and any loan details are verified through the Common Data File (CDF) or the loan servicer portal. This helps agencies process applications and distribute homeowner assistance funds more efficiently.
The release of the platform comes in response to the American Rescue Plan Act of 2021 as a $9.3B federal stimulus package was allocated to homeowner assistance for those negatively impacted by COVID-19. Through it, states, territories and Native American tribes receive funds to administer, while eligible homeowners can be provided with funds for mortgage payments, utility payments and various maintenance expenses.
Watch this quick video to learn more about Mortgage Relief powered by Yardi.
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Alexandra is a creative writer and researcher for RentCafe. With a background in e-learning content writing and a passion for knowledge-sharing platforms, she's covered topics from prop-tech to renters insurance to interior design tips. Very familiar with the renter lifestyle herself, Alexandra enjoys researching and writing about renter demographic shifts and residential real estate market trends as much as she loves writing about how to get along with roommates. You can connect with Alexandra via email.
Alexandra’s work includes collaborations with financial and business publications. Her articles have been featured in several national and international online publications, including the New York Times, Barrons, Inman, Forbes, Architectural Digest, Marketwatch, Bisnow, and Curbed. Her educational background includes a B.A. in Japanese and English and an M.A. in Journalism and Cultural Studies.
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