Yardi Systems — an internationally trusted property management technology company — recently announced the launch of Mortgage Relief, an intuitive Homeowner Assistance Fund software. Targeted toward state agencies that manage American Rescue Plan (ARP) homeowner assistance programs, the platform streamlines the management of assistance applications, payments and funds into one single site.
The ARP, which passed in March 2021, made more than $9 billion available for the Homeowner Assistance Fund (HAF) in a bid to assist households that were directly affected by the COVID-19 pandemic. Funds will be distributed to states, territories and Native American tribes, which will then assist households in paying mortgages, utilities and other home expenses that are covered.
The launch of Mortgage Relief comes on the heels of Yardi’s previous success with Rent Relief, a platform that has been used to manage more than $1 billion in emergency rental assistance payments. Specifically, Rent Relief simplified the agencies’ management of emergency rental assistance, while simultaneously making the process of receiving aid for tenants and landlords more transparent by clarifying available remaining funds and simplifying the application and approval process.
For its newest Homeowner Assistance Fund software, Yardi drew upon its decades of experience in software development and insight from government partners to turn Mortgage Relief into a flexible and scalable product. Homeowners and lenders will be able to apply for mortgage or utility relief directly through Yardi’s new HAF software, with funds being deposited directly with mortgage holders and utility providers in most cases.
“We’re excited that this all-in-one solution is implementable now for government agencies as they work to effectively distribute ARP funds,” said Jeff Bischoff, senior director of sales at Yardi. “Mortgage Relief provides a seamless way to collect applications, manage cases, make payments securely and monitor program performance.”
Read more about the Mortgage Relief platform or watch a video to learn more.
