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Mortgage Bankers Association Partners with NeighborWorks America to Prevent Foreclosures
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The Mortgage Bankers Association has joined NeighborWorks America's national campaign to help borrowers stay in their homes. The campaign will link homeowners in danger of foreclosure to a free counseling hotline (888-995-HOPE) provided by the Homeownership Preservation Foundation and establish intervention programs in cities with high rates of foreclosure. Read more.
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NeighborWorks America Expands its Presence in Mississippi to Address Pressing Community Needs
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| NeighborWorks America held the official grand opening of the Rebuilding Communities office located in Jackson, Mississippi on April 12. The office will work with local, regional and national partners to help rebuild homes, develop new affordable housing and strengthen Gulf Coast communities devastated by Hurricanes Katrina and Rita. It serves as the home base for the coordination of NeighborWorks rebuilding efforts in the state. Read more. |
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| NeighborWorks Applauds Mortgage Market Moves to Find Answers to Subprime Foreclosure Crisis |
| NeighborWorks America has applauded the commitments of lenders and the secondary market to develop viable mortgage refinance solutions. For the tens of thousands of borrowers who are in danger of losing their homes, these solutions are a crucial component for saving the dream of homeownership and communities. Read more. |
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| Fannie Mae, Freddie Mac Developing New Home Loans to Help Distressed Borrowers |
| Fannie Mae and Freddie Mac have announced that the mortgage finance giants are developing new types of loans to help distressed borrowers with high-risk mortgages keep their houses at a time of rising foreclosures. Read 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 America produces a wide variety of publications. Most
are free and others cost a nominal fee to order. For a complete
listing and order forms, go to NeighborWorks Publications. |
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| States Blocked from Regulating Mortgage Industry, U.S. Supreme Court Rules |
| The U.S. Supreme Court has ruled that states cannot regulate lending by mortgage subsidiaries of national banks, blocking Michigan's efforts to regulate these subsidiaries. The court ruled 5-3, arguing that regulation of national banks by the Office of the Comptroller of the Currency (OCC) preempts state regulation. Read more |
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| St. Petersburg NHS of Florida Develops Energy Efficient Modular Homes in Bartlett Park |
| St. Petersburg NHS, a NeighborWorks network member, in partnership with Nick Ferraro Homes, Palm Harbor Homes, and the City of St. Petersburg, is developing modular homes in the Bartlett Park neighborhood of St. Petersburg. The new energy efficient homes offer the traditional character associated with residential development within St. Petersburg neighborhoods. The homes are also built to exceed the state standards for resistance to storms. To read more, visit SPNHS's newsroom. |
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NeighborWorks America's CEO Ken Wade Testifies before House Financial Services Committee, Emphasizing Importance of Pre-Purchase Education
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On April 17 NeighborWorks America's CEO, Ken Wade, testified before the House Financial Services Committee's hearing on "Possible Responses to Rising Mortgage Foreclosures." His testimony focused on NeighborWorks America's effort to address rising foreclosures through the NeighborWorks Center for Foreclosure Solutions, emphasizing the importance of objective, pre-purchase homeowner counseling as well as the partnership with the Homeownership Preservation Foundation in regard to a national "crisis hotline" (888-995-HOPE) and the soon to be launched national Ad Council campaign aimed at reducing foreclosures. NeighborWorks America board member and FHA Commissioner Brian Montgomery also testified at this hearing.
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Banking Regulators Issue Joint Statement to Help Subprime Borrowers
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Anticipating a dramatic increase in the number of borrowers who may not be able to meet the contractual obligations of their home loans, the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of Thrift Supervision (OTS) and National Credit Union Administration (NCUA) issued a joint statement to the financial institutions they regulate on April 17, 2007. The statement encourages lenders to develop work out arrangements for consumers who hold adjustable rate mortgages (ARMS) that are expected to reset in the coming months. The joint statement can be found at the FDIC Web site.
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| Preservation of Affordable Multi-Family Housing Supported by New Massachusetts Volume Cap Bond: Policy Could Add Greater Value to LIHTC Incentives |
| New changes in Massachusetts' volume cap bonds will allow state agencies a greater percentage of money for multi-family projects. The new policy also increases the volume cap amount committed to economic development. To read the press release, click here. |
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| Office of Thrift Supervision Issues Final CRA Rule on Bank Regulations
In Effort to Reestablish Uniformity
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The Office of Thrift Supervision (OTS) has issued a final rule to realign their Community Reinvestment Act (CRA) regulations with those of the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC). Read more [PDF 79.4 KB]
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| HUD Announces $2.4 Billion Available Through 38 Grant Programs |
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Deadline: Various deadlines, ranging from May 25, 2007 -- June 8, 2007 ~ Applicants strongly encouraged to update their registration to avoid a last minute crush
The Department of Housing and Urban Development has published HUD's Fiscal Year 2007 "SuperNOFA," a notice that makes available approximately $2.4 billion in funding through 38 individual grant programs. Click here for the announcement, a list of programs, and application deadlines.
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| U.S. Department of Labor Announces Grant Competition for Homeless Veterans' Employment and Training Service -- Applications Due May 14, 2007 |
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Both urban and non-urban areas serving homeless veterans will be considered for funding under these available grants. Urban areas are those that serve a high concentration of homeless veterans in the metropolitan areas of the 75 U.S. cities largest in population and the metropolitan area of San Juan, Puerto Rico.
These grants are intended to provide services to assist in reintegrating homeless veterans into meaningful employment within the labor force; and to stimulate development of programs that aid homeless veterans. Click here to read more.
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| Good Realtors Who Do Good Works: 2007 Good Neighbor Award Grant Announced -- Applications Due May 25, 2007 |
The Good Neighbor Award recognizes
REALTORS
who have made an extraordinary commitment to improving the quality of life in their communities through volunteer work. This year, five winners will receive $10,000 grants for their cause. For more details and an application, click here.
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NeighborWorks Training Institute ~ Phoenix ~ May 7-11 -- Onsite Registration Opens May 6 at the Hyatt Regency Phoenix
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A limited number of seats are available in some of our popular, new, advanced or updated community development courses in Phoenix. We offer specialized courses in affordable housing, neighborhood revitalization, community building and organizing, management and leadership, and more! Check out some of our featured courses below or visit www.nw.org/training to see a complete course listing for Phoenix.
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Post-Disaster Recovery Conference: (ICMA) International City/County Management Association May 2 - 4, New Orleans
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ICMA’s Restoration 2007 conference will help you learn how to foster community redevelopment and revitalization following a disaster. New this year is the Restoration Transaction Forum, a venue for property owners to showcase up to three sites to a captive audience of developers, financiers, and investors. The properties do not need to have been affected by a disaster to be eligible for this property redevelopment event. Get conference and forum details from ICMA at www.restoration2007.org
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New Community Development Group Formed: The National Alliance of Community Economic Development Associations (NACEDA)
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Fifteen state community economic development (CED) associations have formed NACEDA, to build the CED field by advocating for programs that bring jobs, affordable housing and economic development to low-income communities. NACEDA has named Jane DeMarines, previously director of external relations and development for National American Indian Housing Council, as its first executive director.
Ken Wade, CEO of NeighborWorks America, stated: “I want to extend my sincere best wishes to the board, staff, friends and supporters of the National Alliance of Community Economic Development Associations (NACEDA) upon the launch of this important new organization. I want you to know that NeighborWorks America is fully committed to work with you to determine ways in which NeighborWorks America can best support the work of NACEDA and extend its services to further support the important work of your state associations and local CDC members.”
For further Information about NACEDA, contact: Jane DeMarines at (301) 229-2077 or janedemarines@aol.com
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Affordable Housing Through Historic Preservation Case Study Published
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The National Park Service has published a case study on "Affordable Housing through Historic Preservation" [PDF, 329KB] featuring 10 projects of Community Housing Initiatives (CHI), a NeighborWorks organization in Iowa. The study provides an in-depth analysis of the Van Allen Department Store tax credit restoration into affordable housing, apartments and retail in Clinton, Iowa. CHI is highly respected for its work in preservation and housing.
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