SANTA BARBARA, Calif., June 23, 2021 /PRNewswire/ -- Following the success of the Yardi® Rent Relief platform, which has been used to manage more than $1 billion in emergency rental assistance payments, the company announced the launch of Mortgage Relief. Mortgage Relief is a software platform for state agencies to manage American Rescue Plan (ARP) homeowner assistance programs.
The ARP passed in March 2021 allocated $9.3 billion to homeowner assistance for those negatively impacted by COVID-19. Funds are provided directly to states, territories, and Native American tribes to administer. Eligible households may receive funds for mortgage payments, utility payments and some home maintenance expenses.
Yardi developers used decades of software experience and insight from government partners to make Mortgage Relief an easy-to-implement, scalable and flexible solution for agencies. Applications for homeowner assistance may be submitted by either a homeowner or a lender on behalf of a homeowner. In most cases, funds will be paid directly to mortgage holders and utility providers.
"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."
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/yardi-launches-mortgage-relief-platform-to-help-agencies-disburse-arp-funds-301318676.html