Addressing the Negative Impacts of Foreclosure: Establishing a Framework for Intervention
In this opening plenary panel, national experts provided an overview of the issues related to the impacts of concentrated foreclosures. |
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Moderator: Ann Sewill, Community Foundation Land Trust |
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Changes in Housing Markets and the Effects on Families, Neighborhoods and Local Governments (PDF - 589KB)
Kim Rueben, The Urban Institute |
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The Foreclosure Process and Community Loss Mitigation (PDF - 22KB)
Frank S. Alexander, Emory Law School |
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Learning from the Past: The Experiences of the Home Owners Loan Corporation and the Resolution Trust Corporation (PDF - 687KB)
Andrew Jakabovics, Center for American Progress |
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REO Property Disposition: The Lender Perspective
Heidi Coppola, Citibank |
Using Data and Research to Target Interventions
The scale of the foreclosure crisis requires that municipalities and nonprofits target their interventions to neighborhoods where they will have the greatest impact. The presentations in this session shared methods for for how groups can use data to help identify distressed neighborhoods and REO properties. |
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Moderator: Raphael Bostic, USC |
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Using Data to Target Foreclosure Interventions (PDF - 2.87MB)
Michael Grover, Federal Reserve Bank of Minneapolis |
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The NEO CANDO Model: Improving Community Action through Neighborhood Information (PDF - 2.22MB)
Michael Schramm, Case Western Reserve University |
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Using Data to Target Interventions: From Borrower Outreach to Property Acquisition (PDF - 812KB)
Andy Nelsen, Urban Strategies Council |
The Servicer/Investor Perspective
One of the challenges for municipalities and nonprofits wanting to buy foreclosed properties is understanding who is responsible for REO property disposition within the bank or servicing agency, and how to negotiate a purchase price or donation. In this session, panelists discussed their internal procedures for working with governments and nonprofits to acquire REO properties, as well as pilot initiatives they are undertaking in cities across the country. |
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Moderator: Sharon Canavan, Office of the Comptroller of the Currency |
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David Sunlin, Bank of America |
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Joan Dallis, HSBC (PDF - 415KB) |
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Tammy L. Massone, U.S. Department of Housing and Urban Development (PDF - 73KB) |
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Zeeda Daniele, Fannie Mae |
Nonprofit Property Rehabilitation
For cities and counties wanting to convert REO properties into affordable rental and homeownership opportunities, nonprofits are likely to be the key partner in rehabbing and managing the properties. In this workshop, leading nonprofits discussed approaches for rehabbing foreclosed properties. |
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Moderator: Craig Nickerson, Freddie Mac |
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Renovation Models and Challenges (PDF - 399KB)
Dale Prunoske, Rural Opportunities Inc, Rochester |
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Redevelopment through Lending (PDF - 712KB)
Glennis Ter Wisscha, NHS Minneapolis |
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REO Rehabilitation and Energy Efficiency (PDF - 328KB)
Floyd Gardner, NHS Chicago |
Stabilizing Communities through Foreclosure Prevention
The costs of foreclosure are substantial, both to borrowers and communities, and efforts to prevent foreclosure are critical to ensuring neighborhood stability. In this session, panelists described key strategies for preventing foreclosure and for improving the loan modification process. |
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Moderator: John Olson, Federal Reserve Bank of San Francisco |
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National Strategies to Facilitate Loan Modifications (PDF - 114KB)
Faith Schwartz, HOPE NOW Alliance |
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Engaging Communities in Foreclosure Prevention
Lori Gay, NHS Los Angeles |
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Delinquent No-Contact Borrower Outreach Initiative
Rick Harper, CCCS of San Francisco |
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Working With Lenders to Prevent Foreclosure
Edward Delgado, Wells Fargo |
Innovative Strategies for Stabilizing Communities
Several municipalities and nonprofits have developed innovative strategies for converting REO properties and stabilizing communities. In this session, panelists presented these established and emerging strategies along with the challenges and best practices that have emerged from their experiences. |
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Moderator: Linda Ortega, Federal Deposit Insurance Corporation |
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Models for Reusing Distressed Properties (PDF - 974KB)
Floyd Gardner, Neighborhood Housing Services of Chicago |
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Massachusetts: A Multi-Pronged Approach to Addressing the Foreclosure Crisis (to come)
Rebecca Regan, Boston Community Capital |
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Preserving Neighborhoods: Mitigating the Foreclosure Crisis in Los Angeles (to come)
Mercedes Márquez, Los Angeles Housing Department |
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Fostering Innovation: Strategies for Addressing Foreclosures from Across the Country (PDF - 85KB)
Tamir Novotny, Living Cities |
Converting Foreclosed and REO Properties into Community Assets
Governments and nonprofits are examining the possibility of acquiring REO properties and converting them into affordable rental and homeownership opportunities. In this workshop, learn about the key issues and strategies for acquiring and returning REO properties to productive use, including financing, holding strategies, and models for property redevelopment. |
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Moderator: Scott Turner, Federal Reserve Bank of San Francisco |
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REO Property: The Second Wave of the Tsunami
Frank Ford, Neighborhood Progress Inc., Cleveland |
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Stabilizing Neighborhood Landslides: A Strategy to Keep Families in Place
Joe Rowan, Funding Partners for Housing Solutions, Colorado |
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San Diego Land Bank: A Community Partnership Approach (PDF - 484KB)
Jim Bliesner, San Diego City/County Reinvestment Task Force |
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Foreclosed Property Initiative: The Coalition Model
Paul Harris, Local Initiatives Support Corporation, Phoenix |
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Lessons Learned through REO Programs (PDF - 263KB)
Richard Pine, Enterprise Community Partners, Dallas |
Community Preservation: Strategies for Addressing Vacant Properties
This session examined innovative approaches to ensuring that vacant and foreclosed properties do not have a negative spillover effect on the neighborhood. Attendees learned how city governments, nonprofits, and servicers are addressing the issues associated with vacant buildings; gained a better understanding of the foreclosure process; and obtained ideas about how to lessen the decline of neighborhoods that have the highest numbers of foreclosures. |
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Stabilizing Communities Affected by Foreclosure (PDF - 1.23 MB)
Alan Mallach, The Brookings Institution |
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Strategies for Identifying the Property Owner and Maintaining Contact with Institutional Owners (PDF - 2.03MB)
Peter Lemos, City of Stockton |
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Managing Vacant Properties Before and After Foreclosure
Sherilee Massier, Wells Fargo |
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Lessons Learned from Using Ordinances to Ensure Property Maintenance
Doug Leeper, City of Chula Vista |
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The Role of Property Managers in Maintaining Foreclosed Properties and Bringing them to Market
Raymond Eshaghian, Raymond Realty Group |
Assisting Borrowers After Foreclosure
This workshop was designed to build a better understanding of the range of issues that former homeowners and renters are facing as a result of foreclosure, and the strategies and resources for helping them recover. Speakers addressed questions such as: what happens to borrowers after foreclosure, what are the specific tools for recovery and resettlement, what is the process for repairing damaged credit, and what legal rights do foreclosed borrowers have? |
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Homelessness Created by the Foreclosure Crisis
Tanya Tull, Beyond Shelter |
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Beyond Intervention and Mitigation: An Overview of the Foreclosure Cycle
Gabe del Rio, CommunityHousing Works |
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Housing Relocation Strategies: Flexible Tenant Selection Criteria
Malcolm Bennett, International Realty and Investments |
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Reaching Borrowers in Need of Credit Repair
Michele Johnson, CCCS Nevada |
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Understanding the Legal Rights and Options of Foreclosed Borrowers and Tenants
Amrita Mallik, Public Counsel |
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Services Available for Getting Borrowers Back on the Economic Ladder
Jeff Schrager, No Homeowner Left Behind |
Looking Forward: Financing Long-Term Homeownership Affordability
Homeownership remains a major goal for low- and moderate-income households. Learn how governmental agencies, CDFIs, and nonprofits are developing innovative products and programs to help stem the foreclosure crisis by helping families access responsible credit and financing for homeownership and by promoting the long-term affordability of housing. |
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Moderator: Jim Park, New Vista Asset Management |
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Financing Affordable Homeownership in a Tightened Credit Market (PDF - 70KB)
Craig Nickerson, Freddie Mac |
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The Lease to Purchase Model: Creating a Path to Affordability for REO Recapture (PDF - 841KB)
Steve Zuckerman, Self-Help |
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Using NMTC to Develop Shared Equity Homeownership in Washington, D.C. (PDF - 377KB)
Colin Bloch, BlochWorks |
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Helping to Finance the Purchase of Foreclosed Properties: The CalHFA Community Stabilization Home Loan Program
Gary Braunstein, California Housing Finance Agency |
National and State Strategies: Supporting Local Efforts to Address Concentrated Foreclosures
A number of efforts are underway to direct resources and technical assistance to neighborhoods and cities affected by concentrations of foreclosures. Panelists described national and state efforts to mitigate the impact of foreclosures and will provide updates on the status of federal legislation that is designed to assist local communities in stabilizing neighborhoods. |
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Moderator: Barry Wides, Office of the Comptroller of the Currency |
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Doris Koo, Enterprise Community Partners |
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Mary Burkholder, Local Initiatives Support Corporation (PDF - 738KB) |
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Eileen Fitzgerald, NeighborWorks America (PDF - 91KB) |
