Statement by Faith Schwartz, Executive Director of the HOPE NOW Alliance, on the Obama Plan to Help Homeowners Avoid Foreclosure

WASHINGTON, DC--(Marketwire - February 18, 2009) - HOPE NOW, the industry-created alliance of mortgage servicers, investors, counselors, and other mortgage market participants that since October 2007 has been helping homeowners deal with their mortgage concerns, today released the following statement by its executive director, Faith Schwartz:

         HOPE NOW applauds the Obama administration for its "Homeowner
         Affordability and Stability Plan" and supports the
         administration's efforts to help homeowners.  Over the past year
         HOPE NOW has collaborated across the housing and counseling
         industries to minimize foreclosures and keep as many people in
         their homes as possible.  We will continue to work toward this
         goal and are committed to making the president's program as
         effective as possible.  We're greatly looking forward to working
         with the Obama administration to implement this program and will
         do our best to make it a success.

For more information about HOPE NOW, go to www.HopeNow.com.

Contact Information: Media Contacts: Kara Ross (202) 683-3117 kross@qorvis.com