NeighborWorks’ Achieving Excellence Program Named Finalist for National Housing Conference “Pioneering Housing Strategies” Award

Today NeighborWorks, the nation’s leading trainer of community development professionals, announced that its Achieving Excellence program was named a finalist for the National Housing Conference’s “Pioneering Housing Strategies” award. The award acknowledges forward-thinking strategies that are changing the way the industry approaches affordable housing and community development initiatives.

“We are delighted the National Housing Conference has recognized the NeighborWorks Achieving Excellence program. Achieving Excellence is an innovative organizational investment program that transforms the way community development nonprofits do business. As a result, nonprofits are better equipped to increase the availability of quality affordable housing, stem the tide of foreclosures, and revitalize communities,” said Ken Wade, CEO of NeighborWorks America.

NeighborWorks is currently accepting applications from nonprofit leaders for the 2010-2011 Achieving Excellence class. The application deadline for the Achieving Excellence program is March 15, 2010. Applications, as well as additional program information, are available online at www.nw.org/ae.

NeighborWorks America COO Eileen Fitzgerald Urges Homeowners to Watch Out for Loan Modification Scams

In an interview with nationally syndicated Home and Family Finance Radio, NeighborWorks America COO Eileen Fitzgerald talked about a growing problem across the country: homeowners facing foreclosure losing their money and their homes to loan modification scams.

She urged homeowners to be cautious about whom they go to for help when facing foreclosure and described some of the warning signs that a scam may be taking place. Fitzgerald directed homeowners to http://www.loanscamalert.org/, the Web site of a national campaign that Congress asked NeighborWorks America to launch to raise awareness of this national problem. She also said homeowners in trouble can find free, trusted help by going to http://www.findaforeclosurecounselor.org/ to locate a HUD-approved housing counselor.

Listen to the interview here. It is the first Home and Family Finance podcast listed and the segment starts about 10 minutes into the broadcast.

FHA Announces Policy Changes

Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes announced today are the latest in a series of changes Stevens has enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

The FHA will propose to take the following steps: increase the mortgage insurance premium (MIP); update the combination of FICO scores and down payments for new borrowers; reduce seller concessions to three percent, from six percent; and implement a series of significant measures aimed at increasing lender enforcement. Source: HUD

NeighborWorks Congratulates Its Local Organizations on Stabilization Funding

Today NeighborWorks America announced that 19 local NeighborWorks organizations, along with their local, regional, and state partners, were awarded $548,381,663, or 27 percent of the total $1.93 billion awarded in the second round of Neighborhood Stabilization Program (NSP) funding from the U.S. Department of Housing and Urban Development.

The NeighborWorks organizations received the funding as part of consortium partnerships with state and local government offices, the private sector, and other nonprofits in their communities, and will build on the stabilization efforts already underway in many communities. Stabilization efforts include acquisition, rehabilitation or demolition of vacant or abandoned foreclosed properties, and/or financial assistance to low- to middle-income homebuyers to purchase foreclosed properties.

For more information about the grants and the organizations that received them, please visit the NeighborWorks newsroom or StableCommunities.org.

Champlain Housing Trust to Bring Solar Water Heaters to Affordable Rental Properties

About 1,000 families in Vermont will benefit from an energy saving solar water project announced on Jan. 13 by Senator Bernie Sanders (I-VT) in cooperation with NeighborWorks chartered member Champlain Housing Trust. Senator Sanders launched the project at the Champlain Housing Trust's Salmon Run Apartments, one of the four affordable rental developments that will be part of this project.

According to Senator Sanders, the $500,000 project is the largest of its kind in the state. The grant, secured from the U.S. Department of Energy, will put solar equipment in 80 apartments in Salmon Run. It will also help finance installation of water heaters in 322 more apartments at three other affordable housing developments in Vermont. The grant will be matched by $700,000 in additional public and private funds, according to Senator Sanders.

Learn more.