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Tag Archives: Housing Counseling

Call for Return of Housing Counseling Dollars Resonates 445+ Strong

More than 445 nonprofit housing counseling agencies nationwide have one simple message for Congress: Restore housing counseling funds. Mandated federal budget cuts earlier this year stripped away $88 million in HUD funding that had been designated to support mortgage and foreclosure counseling programs. Those working on the front lines of the housing crisis everyday say counseling is critical to assisting distressed homeowners, and they're calling on lawmakers to restore funding at the level of $60 million.

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CredAbility Announces National Hispanic Outreach Initiative for 2012

CredAbility has announced the launch of its 2012 ""Reconstruye tu Futuro"" campaign, which will leverage grassroots efforts, social media networks, and traditional media communication to reach those in the Hispanic community who are at risk of foreclosure. With more than 50 million Hispanics in the United States and a downturn economy, CredAbility says Latino individuals and families have been more deeply impacted than other minority populations. By leveraging key financial tools, CredAbility aims to help Latino individuals, families, and communities recapture their American Dream.

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Bachus Calls for Higher Guarantee Fees, Cuts in Housing Programs

Republican members of the House Financial Services Committee point to the GSEs and the Obama administration's housing programs as areas for Congress' deficit reduction super-committee to examine as it works toward cutting $1.5 trillion of the nation's debt. A letter drafted by Chairman Spencer Bachus and signed by 20 Republican committee members first calls for an increase in the GSEs' guarantee fees and then the elimination of such programs as HAMP and HUD's Neighborhood Stabilization Program.

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Fannie Mae Opens Mortgage Help Center in St. Louis

Fannie Mae has opened up a new Mortgage Help Center in St. Louis, Missouri, to provide free education and counseling services to struggling homeowners. The St. Louis facility is the GSE's 11th Mortgage Help Center to open across the country. It was developed in partnership with the Urban League of Metropolitan St. Louis, local community and elected officials, and area mortgage servicers.

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Credit Union Coalition Develops Foreclosure Intervention Toolkit

The National Federation of Community Development Credit Unions has completed a new Credit Union Foreclosure Intervention Toolkit to help credit unions combat the foreclosure crisis in their communities. The toolkit was developed with the support of a financial education grant from the National Credit Union Foundation (NCUF). The federation says it has seen the national foreclosure crisis reflected in a dramatic shift in demand between different types of counseling services, from pre-purchase to foreclosure intervention counseling.

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Wells Fargo Increases Funding for Nonprofits’ Home Retention Efforts

Wells Fargo says it will increase its commitment to credit counseling nonprofits by $5.4 million to a total of $12.4 million in 2011 - a 35 percent increase over the $9.2 million in 2010 - for national and local credit counseling agencies. The company notes that public funding for credit counseling is becoming more scarce, while demand for such services is growing. Wells Fargo's $5.4 million in new commitments this year will be provided in the form of grant money directly to nonprofit agencies and support foreclosure prevention counseling services and training.

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Chase Opens Mortgage Centers Near North Carolina Military Bases

Chase has opened two new Homeownership Centers in North Carolina to provide one-on-one help for borrowers struggling with their mortgage payments - one in Fayetteville, near Fort Bragg and the second in Jacksonville, near Camp Lejeune. The company is staffing all of its Homeownership Centers near military bases with employees who have served in the military or military family members. Chase also recently set up Centers near bases in Texas and Virginia, and has plans for openings later this year in Tennessee and Washington.

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Fannie Mae Opens Sacramento Mortgage Help Center

Fannie Mae last week opened a mortgage help center in Sacramento, California, to provide free education and counseling services to struggling local homeowners with Fannie Mae-owned mortgages. The facility is Fannie Mae's 10th mortgage help center across the country. The GSE developed the center in partnership with NeighborWorks HomeOwnership Center Sacramento Region, which staffs the office, as well as with local community and elected officials and area mortgage servicers.

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HUD Awards $10M to Housing Counseling Agencies

HUD has announced that it will distribute more than $10 million to housing counselors throughout the country. Grants have been awarded to 139 local counseling agencies and 23 housing counseling intermediaries. The funding is specifically earmarked to help distressed homeowners with mortgage modifications and other loss mitigation options, and to combat scams perpetrated by fraudulent foreclosure rescue companies. HUD says the grant money is unspent funding from its 2010 appropriation.

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HOPE LoanPort Names Industry Veteran to CEO Post

HOPE LoanPort announced Wednesday that Camillo T. Melchiorre will assume the role of president and CEO, effective September 1st. He replaces Larry Gilmore, co-founder of HOPE LoanPort and president and CEO since 2009, who has stepped down to pursue other opportunities. Melchiorre led the HOPE NOW Alliance Technology Committee that resulted in the creation of HOPE LoanPort and has served as a member of the board of directors since its inception.

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