Freddie Mac, with its grant to NeighborWorks, is helping prepare homeownership counselors.

Freddie Mac's most recent grant to NeighborWorks America ensures that homeownership counselors are properly trained to serve their communities.

Freddie Mac recently awarded a $250,000 grant to the NeighborWorks Center for Homeownership Education and Counseling (NCHEC), a new national initiative focused on tripling the number of certified homeownership counselors by 2006. The funds supplement Freddie Mac’s ongoing five-year, $2 million partnership with NeighborWorks America, a national nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts.

“Freddie Mac’s mission is to expand homeownership opportunities for everyone in America, particularly low- to moderate-income people and those in underserved areas,” said Jackie Prior, Freddie Mac’s director of national alliances, expanding markets, and community investments. “We see our relationship with NeighborWorks America as one that helps us achieve our mission and objectives. We’re very supportive of NCHEC’s mission of providing homeownership counselors with the tools they need to increase their capacity and better serve borrowers.”

Freddie Mac has been a key supporter of NeighborWorks America initiatives since 1994. As part of the 2003-2007 partnership with NeighborWorks, Freddie Mac will provide $2 million to support NeighborWorks programs, including NeighborWorks HomeOwnership Centers and high-profile symposia on emerging issues affecting affordable housing.

HomeOwnership Centers, located in underserved communities, provide all the information, training, and services needed to become a homeowner. With Freddie Mac’s support, the number of centers was increased from 70 to 88.

NeighborWorks America provides grants and training to a network of more than 238 local organizations across the country. “NeighborWorks organizations are extremely competent, and a lot of it has to do with the affiliation with the training and oversight provided by NeighborWorks America”, said Prior. “Working with NeighborWorks America is an efficient way to select local partners because we can rely on the NeighborWorks affiliation as an indication of a high-achieving organization that we can work well with.”

Previous Partner Spotlight Articles:

Wells Fargo Foundation and the NeighborWorks Network Step Up Partnership to Promote Homeownership,  April 2004

Home Depot Partnership , June 2005

 

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