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In The News

JUNE 20, 2012

National Foreclosure Mitigation Counseling Seventh Report

NeighborWorks® America released its seventh report to Congress detailing the activity of the National Foreclosure Mitigation Counseling (NFMC) program. As of June 11, 2012 , the program has served more than 1.3 million U.S. homeowners. This report details program activities through March 19, 2012.

Highlights of the report include:

SOURCE: NFMC website


APRIL 18, 2012

California Attorney General Releases Homeowner Bill of Rights

California Attorney General Kamala D. Harris announced the California Homeowner Bill of Rights on February 29, 2012. The bill of rights is designed to protect homeowners from unfair practices by banks and mortgage companies and to help consumers and communities cope with the state's urgent mortgage and foreclosure crisis.

Joined by Senate President pro Tem Darrell Steinberg and Assembly Speaker John A. Pérez, Attorney General Harris announced her sponsorship of six bills designed to guarantee:

SOURCE: Safeguard Properties Alert


APRIL 17, 2012

HUD Releases Compilation of NSP Policy Alerts

HUD released its most recent compilation of all of the NSP Policy Alerts on March 29, 2012. The 204-page document, aptly titled “HUD NSP Policy Alerts,” includes policies as recent as the Updadated NSP2 Guidance on Reporting on (released March 29, 2012) and as far back as the Guidance on SNP-Supported Homeownership: Affordability, Financial Structure, and Program Income (released March 3, 2009).

SOURCE: HUD NSP Resource Exchange site


JANUARY 25, 2012

NSP2 50% Expenditure Deadline Procedures

HUD has released guidance to their field offices on the NSP2 deadline procedures.   NSP2 grantees with reported exenditures less than 50% of the grant allocation will be receiving letters from HUD.  Drawdowns are a proxy for reported expenditures, but are not the ultimate measure of success. Each grantee must use the QPR module to report expenditures as of Close of Business Feb 11.

SOURCE: The U.S. Department of Housing & Urban Development


DECEMBER 16, 2011

Guidance on Potential Issues With Foreclosed Residential Properties

In the current economic environment, national banks and federal savings associations  are facing challenges resulting from unprecedented numbers of troubled residential mortgage loans. Foreclosures on residential properties also are occurring in unprecedented numbers and are projected to continue this trend in the near term. Among the many consequences of high levels of foreclosures are growing inventories of foreclosed residential and commercial properties.

SOURCE: Office of the Comptroller of the Currency


NOVEMBER 10, 2011

Apply NOW for Free Technical Assistance from PPS & Livability

Has your community set goals for achieving improved livability, smart growth, or sustainability? Are you running into barriers in achieving these goals?

Applications for free technical assistance from the Project for Public Spaces to address this challenge are now available on the Livability Solutions website. PPS will be offering this technical assistance with its partners at Livability Solutions thanks to a grant from the EPA Office of Sustainable Communities Building Blocks for Sustainable Communities Program.

SOURCE: Project for Public Spaces


NOVEMBER 10, 2011

Demolition a Vast Improvement for Empty, Tattered Newark, NJ, Homes

NSP funding is being used to improve Newark neighborhoods by removing vacant homes deemed unsafe and unstable. The city’s code enforcer said neighbors have been enthusiastic in their support of the city's efforts. The city has used different sources of grant money to demolish about eight dilapidated homes that were beyond repair; the recent demolitions were the result of Neighborhood Stabilization Program funds. The average cost is about $5,000, but asbestos abatement adds another $1,500, according to the city’s code enforcer.

SOURCE: Newark (NJ) Advocate, 10/23/11


OCTOBER 20, 2011

Las Vegas Clearinghouse Joins NSP

A leading reseller of real estate in Las Vegas, called Lenders Clearing House LV, LLC, has joined the Neighborhood Stabilization Program (NSP) to help banks reduce their REO inventories in Las Vegas, Nevada.  Over the past few years, Lenders Clearing Housing LV has been creating certified “move in ready” homes by acquiring foreclosed or abandoned homes, restoring them and offering them at or above the current market price.

SOURCE: Market Watch


OCTOBER 20, 2011

Walkable Communities: Don’t Forget Schools!

The EPA has recently made a public statement about the impact of sprawling schools on the environment and is encouraging more “green” and walkable school development plans. Because schools are the center of the community for students, families and others in the community who take advantage of adult programming, community meetings and athletic events, it’s important to consider the site and location of schools during the development phase.

SOURCE: New Urban Network


OCTOBER 12, 2011

Enterprise Community Partners Testifies at House Subcommittee

Andrew Jakabovics, senior director of policy development and research at Enterprise Community Partners (Enterprise), testified before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity on Oct. 7. Enterprise is a national nonprofit organization that creates opportunities for low- and moderate-income people through fit, affordable housing and diverse, thriving communities. He discussed mechanisms and policy options to facilitate bringing the private sector back into the housing market in a supportive and sustainable way.

SOURCE:, 10/7/11


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