The Homeownership Preservation Foundation (HPF) has announced it is teaming up with students at Harvard Business School to support the foundation’s mission of preventing foreclosure and preserving homeownership.

Beginning in the fall semester, students of the class of 2010 will work with the HPF in several independent field studies aimed at helping struggling American homeowners, according to a statement.

As part of their second-year curriculum, the students will participate in field studies, working with the HPF team to design and implement new management strategies, and marketing, operations and social media methods.

The idea for the partnership began when a recent Harvard Business School graduate and a former member of Lehman Brothers’ corporate strategy team discussed what MBA students could do to help Americans affected by today’s financial crisis, according to a statement.

With the help of Harvard Business School professor and consumer finance expert Peter Tufano, the two narrowed their scope to focus on mortgages and foreclosures and were introduced to the team at the Homeownership Preservation Foundation.

"As we read in the newspaper every day, the threat of foreclosure continues to place many American families in jeopardy," said Colleen Hernandez, president of the Homeownership Preservation Foundation. "HPF is committed to doing our part to stem this tide and we are thrilled to support the development of Harvard Business School’s graduate students as they contribute their practiced business expertise to support our mission of preserving homeownership."