Homeownership Preservation Foundation Names VantageScore Solutions President/CEO Barrett Burns to Board
June 24, 2010 – WASHINGTON, D.C. -– VantageScore Solutions President and Chief Executive Barrett Burns has joined the board of directors of the Homeownership Preservation Foundation (HFP), a national non-profit organization dedicated to reducing foreclosures and preserving homeownership in the United States.
His two year term began May 2010.
“The current Board and staff of HPF (or the Foundation) are delighted to welcome Barrett Burns as the newest member of our Board of Directors,” said Colleen Hernandez, chief executive officer of the Homeownership Preservation Foundation. “The Foundation looks to extend its reach and engage new leaders who support our mission to provide assistance and solutions-focused counseling to financially-distressed homeowners.
“We depend upon the expertise and guidance of our board members as we work to develop innovative solutions for preserving and expanding homeownership and helping to restore a vibrant and healthy housing market and economy,” Hernandez added.
Burns joined VantageScore Solutions in 2005 and has more than three decades of professional experience in risk and credit management. He has held various senior leadership positions at major financial institutions, including Citibank, U.S. Trust, Ford Motor Credit and Bank One.
A resident of Greenwich, Conn., Burns currently serves as co-chair of the United Way of Greenwich Annual Leadership Campaign and previously served on The Texas Institute for Arts in Education’s board of directors. “I’m honored to serve with the Homeownership Preservation Foundation at a time when many Americans are facing foreclosure,” said Burns. “Avoiding foreclosure benefits the homeowner but also lowers losses for the mortgage sector and helps the economy.”
Recent Mortgage Banking Association statistics show the percentage of loans in foreclosure or with at least one payment past due was a non-seasonally-adjusted 14 percent in the first quarter of 2010. Mortgages in the foreclosure process reached a record high at a non-seasonally-adjusted 4.63 percent, up from 4.58 percent in the fourth quarter of 2009.
Last year, more than 1.9 million homeowners called the HPF’s Homeowner’s HOPE™ Hotline and more than 340,000 have participated in housing counseling sessions.
About the Homeownership Preservation Foundation
Founded in 2003, the Homeownership Preservation Foundation (HPF) is a 501(c)(3) independent national nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners. HPF provides a comprehensive foreclosure prevention counseling service available to homeowners for free 24 hours a day, seven days a week, 365 days a year, in over 160 languages. For more information about the Homeownership Preservation Foundation or the Homeowner’s HOPE™ Hotline by calling 888-995-HOPE™ or please visit www.995hope.org
About VantageScore Solutions
Stamford, Conn.-based VantageScore Solutions, LLC (www.vantagescore.com) is an independently managed company that holds the intellectual property rights to VantageScore, a generic scoring model introduced in March 2006. Created by America’s three major credit reporting companies (CRCs) — Equifax, Experian and TransUnion — VantageScore’s highly predictive model uses an innovative, patent-pending scoring methodology to provide lenders with a more consistent interpretation of consumer credit files across all three major credit reporting companies and the ability to score more people.
Wayne E. Travers Jr.
VantageScore Solutions, LLC
Homeownership Preservation Foundation