African-Americans are more than twice as likely as whites to receive high-cost subprime mortgage loans, according to an analysis of data that U.S. lenders have begun disclosing for the first time, reports the Wall Street Journal.

While the disparity reflects a variety of factors, Kenneth D. Wade, chief executive officer of NeighborWorks America, told the Journal: "Some customers who end up in subprime loans could qualify for prime loans." The article mentions that Neighborhood Reinvestment (now doing business as NeighborWorks America) trains about 700 counselors for low-income borrowers per year and aims to triple that level within three years.

Neighborhood Reinvestment Corporation, now doing business as NeighborWorks America, and State Farm® Insurance are launching the development of an online financial fitness course for educators to help keep pace with the growing demand for community-based financial literacy education.

“The need for more accessible, personalized financial literacy education and counseling has never been greater,” said NeighborWorks America CEO Kenneth D. Wade. “This will help us keep pace with the growing demand at our NeighborWorks Training Institutes for more courses to certify financial literacy educators. We thank State Farm for recognizing the importance of financial literacy not only for individual consumers, but also for communities and our national economy.”

View news release.

Federal Reserve Board Chairman Alan Greenspan told Congress that limiting the mortgage holdings of Fannie Mae and Freddie Mac is the cornerstone for any new federal regulation over the mortgage giants, according to CBS MarketWatch.

If Congress does not limit the portfolios, "we run the risk of solidifying investors' perceptions that the government-sponsored enterprises are instruments of the government and that their debt is equivalent to government debt," Greenspan told the Senate Banking Committee.

Fannie and Freddie keep some mortgages on their books, known as retained portfolios. The companies hold about $1.5 trillion under these accounts.

Amazon.com is accepting applications for the Amazon.com Nonprofit Innovation Award, which recognizes and rewards nonprofit organizations whose innovative approaches most effectively improve their communities or the world at large. If your nonprofit has breakthrough ideas, read more about the program and how to apply for the award.

Ten organizations selected as finalists will have a unique opportunity to raise funds and awareness for their programs on Amazon.com. All 10 finalists will be profiled on their own Amazon.com pages, where customers will be invited to vote for their favorites by making monetary donations. The organization that receives the largest amount of customer contributions by the deadline will receive the award, along with a matching grant of up to $1 million from Amazon.com. Learn more.

There is still time to register for the NeighborWorks Training Institute in Minneapolis! The institute will feature more than 70 courses in affordable housing and community development, including a Spanish-language course on Homebuyer Education Methods, and other events, such as a luncheon with Richard Lord, author of "American Nightmare: Predatory Lending and the Foreclosure of the American Dream", and a daylong symposium on April 20.

The symposium — When Gentrification Comes Knocking – Navigating Social Dynamics in Changing Neighborhoods — will examine the range of challenges related to gentrification. Industry experts will identify the indicators of stress within changing neighborhoods and provide practical tools for you to take away to help manage these social stresses. Featured symposium luncheon speaker Linda Goode Bryant, an award-winning filmmaker, will offer film clips and commentary from her PBS documentary “Flag Wars,” which chronicles the social dynamics of a newly gentrified Columbus, Ohio, neighborhood.

To register, bring your registration form (downloaded from www.nw.org/training) and payment to the Registration area at the Minneapolis Hilton starting Sunday, April 17 at 3 p.m. For details on course availability and additional information on the symposium, please visit www.nw.org/training.

Published in conjunction with the symposium “Resident Services: Linking Affordable
Housing and Opportunities for Families” Washington, D.C., March 2005
View [PDF, 4.4 MB]

Q: When do ordinary outdoor spaces become great outdoor places?

A: When they are designed like outdoor rooms.

Anything people sit on outside — whether it's a bench, a set of stairs, or the edge of a planter - can be designed to add beauty and function to a development. And designing great outdoor seating isn't just about what the seats are made of — it's also about where the seats are placed, what they look at, and how they relate to other elements of the site design, like pedestrian paths and play areas. This Design Update looks at three developments that went beyond just buying a few benches and created delightful outdoor seating areas. Learn more at www.designadvisor.org/updates.

All selected projects will be showcased on the Affordable Housing Design Advisor, an online design Web site, a key element in the Campaign for Excellence in Affordable Housing Design. Projects will also be showcased at the 2005 AIA National Convention Housing Awards Reception in Las Vegas. Submit your project — you may be greener than you think! To get more information, click here.