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Practitioners Gather in Cincinnati for Major Foreclosure Symposium
NeighborWorks America hosted a national symposium on neighborhood stabilization at its NeighborWorks Training Institute on May 7 in Cincinnati. Speakers included Federal Reserve Board Governor Randall S. Kroszner and FDIC Director Thomas J. Curry. The symposium examined a range of issues affecting neighborhoods where homeowners are facing foreclosure. A number of resources from the symposium are available online.
See also NeighborWorks announces new partnership with the Federal Reserve during the Cincinnati Symposium.
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| NeighborWorks America Releases Annual Report |
| The 2007 annual report, Shared Solutions, Shared Success, outlines NeighborWorks many accomplishments in 2007, including its comprehensive response to the foreclosure crisis. The report notes continued progress in increasing the availability of and access to high-quality rental homes. The corporation also continues to provide the highest quality professional development and skill-building training to community development practitioners across the country, educating more people and encouraging the highest standards of practice and professionalism. NeighborWorks America also continues to pursue an ambitious rebuilding agenda in the Gulf Coast region, training resident leaders and supporting the development and preservation of affordable housing critical to recovery. Learn more. |
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| Thousands of Homeowners Receive Free Foreclosure Help Through NeighborWorks Outreach |
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NeighborWorks America has teamed up with the HOPE NOW Alliance on a multi-state tour to help homeowners avoid foreclosure. The tour consists of home preservation events that offer struggling homeowners face-time with their mortgage servicing company and/or a housing counselor. The Home Preservation Tour kicked off in California on March 3, and each event has attracted hundreds of homeowners. In addition to California, the tour has hit major cities in Ohio, Pennsylvania, Georgia, Wisconsin, Indiana, Illinois, Tennessee and Florida, and will move to Texas in June. Through these events, NeighborWorks has provided more than 3,500 homeowners a chance to develop loan modification and financial plans with their mortgage servicers or a housing counselor. Learn more.
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| Community Strategies represent the shared experience of NeighborWorks America and its member organizations in various topics of community development and affordable housing. |
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| The
NeighborWorks Training
Institute is dedicated to providing the highest quality training
for community development practitioners. Learn about the latest
classes and symposia on leading-edge topics. |
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| NeighborWorks Announces New Default and Loss Mitigation Module in CounselorMax™ Case Management Tool for Housing Counselors |
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On May 15, NeighborWorks America, through the NeighborWorks Center for Homeownership Education and Counseling (NCHEC), launched a new default management module enhancement in CounselorMax™, a web-based client management system broadly available to housing counseling organizations. This roll-out complements a newly released foreclosure management module for NeighborWorks organizations utilizing NSTEP, a NeighborWorks internal client management and reporting tool. Features of the new CounselorMax Default/Foreclosure Module include:
- Standard default and loss mitigation tracking utilizing a customized guiding and planning work-flow system
- Fully track and report National Foreclosure Mitigation Counseling (NFMC) requirements, including Level 1, 2 and 3 monitoring
- NFMC data collection — ready to export to intermediary and to NeighborWorks America
NFMC grantee or sub-grantee organizations are eligible for a one-year license of this software application at no charge. For more information, contact the CounselorMax team at counselormax@nw.org, or visit www.counselormax.com.
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| U.S. Foreclosure Filings Surge 65 Percent in April |
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More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year, and contributing to a deepening slide in home values, according to RealtyTrac Inc. Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up significantly from 147,708 in the same month last year and up 4 percent since March. Nevada, Arizona, California and Florida were among the hardest hit states, with metropolitan areas in California and Florida accounting for nine of the top 10 areas with the highest rate of foreclosure. One in every 519 U.S. households received a foreclosure filing in April. Foreclosure filings increased from a year earlier in all but eight states. Irvine, California-based RealtyTrac monitors default notices, auction sale notices and bank repossessions. Read more in The New York Times.
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| Abandoned Properties Are Putting Stresses on Properties and Pets |
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Local and state governments have become concerned about the upkeep of foreclosed homes, which can drag down real estate values in neighborhoods and provide havens for drug users and gangs. Over the last year, localities have stepped up code enforcement by levying fines on mortgage companies for the degradation of homes they are repossessing. Contractors in some communities are keeping busy maintaining abandoned homes. Some have noticed abandoned pets, which has led to at least one nonprofit effort to find homes for them. View New York Times article
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| NHS of New Haven Converts a Blighted Commercial Property into a Home |
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Just months ago, two adjoined commercial properties in a New Haven, Connecticut neighborhood were called "abandoned" and "blighted." But in the wake of an unconventional renovation by NeighborWorks member Neighborhood Housing Services of New Haven Inc., someone will call them "home." The former laundry and retail storefront have been converted into a two-family house the agency unveiled during an open house on May 14. The project marks the first time Neighborhood Housing Services has transformed a commercial property into a residence. It also is one of the rare occasions in which a nonprofit developer is selling a home at market rate. Read New Haven Register article.
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NeighborWorks Paints! Community Building Effort Launches June 7, 2008
Initiative to Kick off the 25th Annual NeighborWorks Week |
| NeighborWorks America announces its new NeighborWorks Paints! community building effort, the first event in a series of weeklong community celebration and education events around the country that will kick off the 25th annual NeighborWorks Week from June 7-14, 2008. The NeighborWorks Paints! initiative is comprised of more than 60 local NeighborWorks organizations that will collectively use several hundred gallons of paint to beautify and preserve neighborhoods from Jacksonville, Florida, to Aberdeen, Washington, and Anchorage, Alaska, to San Juan, Puerto Rico. Learn more about NeighborWorks Paints!, NeighborWorks Week and find an event near you. |
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| FHA Commissioner, NeighborWorks Board Member Wins Affordable Housing Honor |
| Federal Housing Administration commissioner and NeighborWorks America Board member Brian Montgomery has received the 2008 Robert J. Corletta Award for Achievement in Affordable Housing. The award, presented annually by the National Association of Home Builders and the Neighborhood Development Collaborative, honors individuals who have shown extraordinary creativity and dedication to the cause of affordable housing. Montgomery was recognized for his efforts to keep FHA programs viable for the production and rehabilitation of affordable rental apartments, including his successful opposition to increasing the mortgage insurance premiums on certain FHA affordable housing programs. Learn more about the award. |
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| NeighborWorks America CEO Ken Wade Testifies Before Congress on Importance of Financial Literacy |
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On May 1, NeighborWorks CEO Ken Wade testified before the Senate Banking, Housing and Urban Affairs Committee, Economic Policy Subcommittee, on the importance of quality consumer education and counseling, particularly when working with low- and moderate-income and/or credit impaired
borrowers, or non-traditional mortgage products. Wade outlined NeighborWorks' programs and efforts in this regard: Financial Fitness; pre-purchase counseling and education; post-purchase counseling and education; counselor training in this area; and National Industry Standards for Homeownership Education and Counseling.
Read full testimony.
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| Senate Panel Approves Housing Bill |
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A plan to rescue hundreds of thousands of homeowners at risk of foreclosure cleared the Senate on May 20. The legislation would authorize the Federal Housing Administration to help at-risk borrowers trade mortgages with escalating monthly payments for more affordable loans backed by the federal government. It would also impose stricter regulations on Fannie Mae and Freddie Mac, including dedicating a portion of their profit — about $500 million a year — to a new fund for low-income rental housing. View Washington Post article.
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| OCC Offers Consumer Tips to Avoid Foreclosure Rescue Scams |
| The Office of the Comptroller of the Currency is offering advice to help prevent borrowers from becoming victims of foreclosure rescue scams. The office also is providing a list of resources people can use to find qualified sources for help. View tips. |
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| Green Building Initiative Planning Grants from Kresge Foundation |
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The Kresge Foundation awards planning grants on an ongoing basis for the renovation and historic preservation of existing structures – as well as new green construction. Grants range from $50,000 to $100,000 to support the integrated design process for the following projects:
- Renovation
- Historic preservation
- New construction designed to achieve LEED – Leadership in Energy and Environmental Design – certification at the Platinum level from the U.S. Green Building Council
- New construction designed to meet the Cascadia Region Green Building Council’s Living Building Challenge (also endorsed by the U.S. Green Building Council)
- New construction designed to be net-zero energy efficient (the facility produces as much energy as it consumes each year)
The Foundation recently announced grant awards totaling nearly $43 million. Visit the Kresge Foundation online for more information on the costs covered by the planning grants, as well as application and eligibility criteria.
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| HUD Announces Green Building Funds, Deadline July 1 |
| The U.S. Department of Housing and Urban Development has announced funding availability for Community Housing Development Organizations (CHDOs) to provide energy efficient and environmentally-friendly housing for low-income families. Approximately $1 million is available for eligible home development organizations to green affordable housing. The announcement was made in the May 16 issue of the Federal Register. |
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| Champions for Minority Homeownership HOPE Awards, Deadline December 5, 2008 |
The HOPE Awards is a national industry awards program that recognizes individuals and organizations that are making outstanding contributions to increase minority homeownership, revitalize communities and expand affordable housing opportunities.
HOPE Awards winners receive a $10,000 honorarium, national media coverage, paid travel expenses to attend and speak at a minority housing symposium, recognition at the HOPE Awards Gala in May 2009 in Washington, D.C., and much more.
Deadline for entries is December 5, 2008. For entry forms and submission guidelines, visit www.hopeawards.org.
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| NeighborWorks America Launches First Online Learning Course: Foreclosure Basics |
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NeighborWorks America has launched an online learning center and is offering Foreclosure Basics, HO109el — an introduction to foreclosure intervention counseling — as its first course. Practitioners can stay on top of the demand for experienced and knowledgeable foreclosure counselors with the tools needed to help clients weather the current foreclosure climate. HO109el satisfies Part II of the requirements for the certification in one-on-one homeownership counseling and is equivalent to the two-day Foreclosure Basics course provided in classroom settings at the Training Institutes.
The Foreclosure Basics course is open to persons inside and outside the nonprofit community. For a limited time, NeighborWorks is offering the course at no charge to Department of Housing and Urban Development (HUD)-certified housing counseling organizations, state Housing Finance Agencies, municipalities and other government agencies. NeighborWorks America anticipates offering three additional non-foreclosure related online courses by the end of the calendar year. For others who are interested in taking the course, the cost is $195. Once registered, participants will have up to 60 days to complete the online course at their convenience (in actual online time, the course takes between
3-6 hours to complete). A final, online test will be used to ensure participants gained the knowledge delivered by the course. To learn more about the course, visit NCHEC at http://www.nw.org/nchec, or e-mail nchec@nw.org.
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| Chicago Training Institute and Symposium will Bring Community Organizers Together |
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Organizing in the Face of Foreclosure — What Can Communities Do? That is the question that community organizers and leaders will come together to discuss at the Chicago Training Institute August 20. This Community Organizing Symposium invites community builders and organizers, housing counselors, outreach staff, community residents, policy-makers and leaders in the nonprofit and for-profit sectors to join together in addressing questions such as: How can we stop the loss of families and properties from our neighborhoods, communities, cities and small towns because of foreclosure? Can communities defend themselves against predatory lending practices? What are the best policy options that protect our communities from predatory lending and foreclosures? What do we need to know to more effectively deal with this crisis? How can housing counselors and community organizing staff work together most efficiently to mitigate the negative impacts of this crisis?
Registration is now open for the Chicago Training Institute. Learn more about the over 100 courses being offered, the Symposium and how to register today.
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Native American Community Development Training Program at Chicago Training Institute
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Recognizing the need for homeownership and effective economic development strategies, the NeighborWorks Training Institute offers the Native American Community Development Training Program, a content area focusing on such essential courses as homebuyer education, building organizational capacity, financial literacy and leveraging resources. The five-day Native Asset Building Track of the Native American Community Development Training Program is being offered at the NeighborWorks Training Institute in Chicago, August 18-22. The program offers training on subjects such as financial education and self sufficiency. Scholarships are available. Those interested in applying must do so before June 6.
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| Research Report Examines Housing Crisis Impact on Rental Market |
| New research on rental housing from Harvard University's Joint Center for Housing Studies finds that the current housing crisis has increased competition for low-cost rentals while adding the threat of eviction for renters living in foreclosed properties. America's Rental Housing: The Key to a Balanced National Policy calls for policymakers to focus more attention on renters being put at risk by the mortgage crisis. Because of foreclosures and decreasing home sales, homeownership is declining while the number of renters is increasing dramatically — by almost a million just last year, which is four times the pace of renter growth from 2003-2006. For more information and to download the report, visit Harvard's Joint Center for Housing Studies. |
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| Preserving Affordable Multifamily Housing |
| The spring 2008 issue of Community Developments, a newsletter from the Comptroller of the Currency, focuses on the preservation of affordable multifamily housing by examining how four banks of various sizes and several multi-lender consortiums have invested resources in preserving the affordability of multifamily housing units. Barry Wides, Deputy Comptroller for Community Affairs, says that "banks that invest their resources in affordable multifamily housing preservation can receive not only a market-rate return on their investments, but may also obtain positive Community Reinvestment Act (CRA) consideration for these activities." Learn more. |
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| More States Including Green Building Criteria in Affordable Housing, According to Global Green USA |
| New analysis from Global Green USA has determined that progress is being made in the effort to make green building measures standard practice in affordable housing. For this report, Green Building Criteria in 2007 State Low Income Housing Tax Credit Programs, Global Green USA examined the changes made in the last three years to the green building criteria found in state Qualified Allocation Plans (QAPs), which states develop to guide the distribution of federal Low-Income Housing Tax Credits (LIHTC). In Global Green USA’s third annual analysis and ranking of each of the 50 states’ QAPs, the trends are clear: more states are including green building criteria, and those criteria are becoming increasingly comprehensive. Read the report. |
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| NeighborWorks Consumer Home Buying Guides |
| The newest additions to our growing range of valuable practitioner resources are the Consumer Home Buying Guides, a set of four consumer-focused guides to various stages of the home buying process. Developed by Fannie Mae Foundation, these guides deliver practical, specific and concise information in a user-friendly format. For more information on the guides, including translations into a number of languages and ordering details, click here. |
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