NFMC Releases Fourth Congressional Report
On November 16, NeighborWorks America released its fourth report to Congress on NFMC Program activity. The program continues to help homeowners facing foreclosure by providing them with much needed loss mitigation counseling. To date, the program has provided 762,284 struggling homeowners with foreclosure prevention counseling.
The report covers counseling activity reported by program Grantees and counselor training provided by NeighborWorks between March 1, 2008 and August 18, 2009. It includes a preliminary analysis of the effectiveness of the NFMC Program through a matching effort conducted by the Urban Institute. The report also details the NFMC Program’s role in President Obama’s Making Home Affordable program and the successes and challenges counselors face when helping homeowners avoid foreclosure.
Highlights of the report include:
- 633,294 homeowners received counseling during the reporting period
- 5,237 scholarships provided to foreclosure counselors
- Descriptive statistics about clients served through the program
- Successful counseling strategies, including the importance of early intervention
- The challenges counselors face in the current economic environment
Report Description [PDF, 45 KB]
Executive Summary [PDF 132 KB]
Full Report [PDF, 3.4 MB]
NFMC Releases Third Congressional Report (June 2, 2009)
NeighborWorks America is pleased to report that the National Foreclosure Mitigation Counseling (NFMC) Program continues to help homeowners facing foreclosure by providing them with much needed loss mitigation counseling. As of May 31, 2009, the program has provided 405,172 struggling homeowners with foreclosure prevention counseling.
On June 2, NeighborWorks America released its third report to Congress on NFMC Program activity. The report covers counseling activity reported by program Grantees and counselor training provided by NeighborWorks between March 1, 2008 and March 31, 2009. It includes a preliminary look at the effectiveness of the NFMC Program through a matching effort conducted by the Urban Institute that looks at the post-counseling status of loans held by NFMC Program clients. The report also details the NFMC Program’s role in President Obama’s Making Home Affordable program.
Highlights of the report include:
- 373,169 homeowners received counseling during the reporting period
- 4,447 scholarships provided to foreclosure counselors
- Descriptive statistics about clients served through the program
- Information on the loan status of clients previously counseled through the program
- Successful counseling strategies, including the importance of early intervention
- The challenges counselors face in the current economic environment
Report Description [PDF, 56 KB]
Executive Summary [PDF 129 KB]
Full Report [PDF, 4.1 MB]
NFMC Releases Second Congressional Report (February 25, 2009)
NeighborWorks America released its second report on homeowners receiving counseling through the NFMC Program in February 2008. The report covers counseling activity reported by program grantees between March 1, 2008 and January 15, 2009. The report looks at the reasons clients are defaulting, monthly mortgage payment, demographic information, geographic location of clients receiving NFMC Program counseling, and the challenges counselors face when working with clients. The report also shows that in calendar year 2008, 3,264 scholarships were awarded to nonprofit staff members who provide foreclosure counseling, and 1,825 certificates of completion have been earned in the online Foreclosure Basics course.
Report Description [PDF, 43 KB]
Executive Summary [PDF, 116]
Full Report [PDF, 5.7 MB]
NFMC Releases First Congressional Report (October 30, 2008)
On October 30, NeighborWorks America submittedan interim report to Congress on the impact of the National Foreclosure Mitigation Counseling (NFMC) program. The report reveals that as of September 15, 2008, nearly $55 million has been disbursed to NFMC Program Grantees, and 105,071 homeowners in all 50 states have been provided assistance to address their mortgage delinquency and foreclosure challenges. The report includes such information asreason for default, monthly mortgage payment,demographic information and geographic location of homeowners who received NFMC counseling. The report also shows that during the same time period, scholarships have been provided through the NFMC Program to 2,555 nonprofit staff members who provide foreclosure counseling and 4,608 training certificates in foreclosure-related courses have been issued.
Brief Description [PDF, 37 KB]
Executive Summary [PDF, 213 KB]
Full Report [PDF, 5.5 MB]
»Back to Home and Round 3 Award Information
