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  1. #1
    Super Moderator Newmexican's Avatar
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    HUD and National Community Stabilization Trust Announce National ‘First Look’ Program

    Do yiou want to guess who the "grantees are? Old ACORN and LaRaza....

    HUD and National Community Stabilization Trust Announce National ‘First Look’ Program

    September 01, 2010
    FOR IMMEDIATE RELEASE: Wednesday, September 1, 2010
    Contacts:
    HUD Public Affairs, (202) 708-0980
    National Community Stabilization Trust, (202) 223-3237

    HUD SECRETARY ANNOUNCES NATIONAL FIRST LOOK PROGRAM TO HELP COMMUNITIES STABILIZE NEIGHBORHOODS HARD-HIT BY FORECLOSURE

    Nation’s top lenders agree to give NSP grantees first crack at buying foreclosed homes

    WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced an unprecedented agreement with the nation’s top mortgage lenders to offer selected state and local governments, and nonprofit organizations a “first look” or right of first refusal to purchase foreclosed homes before making these properties available to private investors.

    The National First Look Program is a first-ever public-private partnership agreement between HUD and the National Community Stabilization Trust (Stabilization Trust). In collaboration with national servicers, Fannie Mae, and Freddie Mac, the First Look program is intended to give communities participating in HUD’s Neighborhood Stabilization Program (NSP) a brief exclusive opportunity to purchase bank-owned properties in certain neighborhoods so these homes can either be rehabilitated, rented, resold or demolished.

    “This groundbreaking agreement will help rebuild neighborhoods that have been struggling with blight and declining home values due to foreclosures,” said HUD Secretary Shaun Donovan. “Local communities will now get an exclusive option to buy foreclosed properties in targeted neighborhoods so they can turn the homes into affordable housing or, in some cases, tear them down. This agreement helps us level the playing field to give communities a better chance to stabilize these neighborhoods.”

    “The Stabilization Trust is delighted to be working with HUD Secretary Donovan on the National First Look Program,” said Craig Nickerson, President of the NCST. “By serving as the operations ‘engine’ behind the First Look Program, the Stabilization Trust can facilitate the transfer of more foreclosed property for participating financial institutions to local community buyers, thereby accelerating the road to neighborhood recovery.”

    HUD’s NSP grantees, which include state and local governments and non-profit organizations, often find themselves competing with private investors for real estate-owned (REO) properties, which can hinder their efforts to stabilize neighborhoods with high foreclosure activity. With today’s announcement, HUD and the Stabilization Trust, working with national servicers, Fannie Mae, and Freddie Mac, will standardize the acquisition process for NSP grantees, giving them an exclusive option to purchase foreclosed upon homes in certain targeted neighborhoods.

    The Stabilization Trust pioneered the ‘First Look’ model to create a transparent and streamlined process to facilitate the transfer of foreclosed and abandoned properties from key financial institutions to local government housing providers. First piloted in 2008, the model has gained recognition as a critical tool for positively tipping the scale in neighborhoods hard hit by foreclosures.

    NSP grantees will also be aided by REOMatch™, a web-based mapping and acquisition management tool developed by the Stabilization Trust. REOMatch will assist NSP grantees easily identify REO properties and make more strategic decisions about which properties to acquire, based on real-time data on an interactive mapping platform.

    The nation’s leading financial institutions are participating in the National First Look Program, representing approximately 75 percent of the REO marketplace. Participating institutions include: Bank of America, Chase, Citi, Deutsche Bank, GMAC, Nationstar Mortgage, Ocwen Financial Corporation, Saxon Mortgage Services, U.S. Bank, Wells Fargo, Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA).

    The National First Look Program will allow NSP grantees the exclusive opportunity to purchase available REO properties located within the defined boundaries of NSP target areas. NSP grantees will be immediately notified when a property becomes available and will have 24-48 hours to express interest in pursuing a specific property. Furthermore, these institutions will provide NSP purchasers with the opportunity to purchase REO properties at a discount their appraised value, reflecting the cost savings of a quick sale. NSP grantees may acquire these properties with the assistance of NSP funds for any eligible use.

    After expressing interest in a property, the First Look Period will last approximately five to 12 business days during which the NSP Grantee will conduct inspections and establish costs to repair in anticipation of the financial institution’s price offer. In the event that no NSP grantee exercises its preference to purchase an REO property during the First Look period, the financial institution will follow its normal process to sell the home on the open market.

    Currently, the Federal Housing Administration (FHA) offers a complementary pilot program in which NSP grantees receive an exclusive option to purchase so-called ‘HUD Homes’ at a discount prior to those homes being made available to the investor community. The FHA pilot, alongside today’s agreement expands the opportunity for NSP grantees to gain access to REO properties through a national first-look standard option.

    HUD’s Neighborhood Stabilization Program was created to address the housing crisis, create jobs, and grow local economies by providing communities with the resources to purchase and rehabilitate vacant homes. NSP grants are helping state and local governments, as well as non-profit developers, acquire land and property; demolish or rehabilitate abandoned properties; and/or offer downpayment and closing cost assistance to low- to middle-income homebuyers.

    Grantees can also stabilize neighborhoods by creating "land banks" to assemble, temporarily manage, and dispose of foreclosed homes. To date, HUD has allocated nearly $6 billion in funding to state and local governments and non-profit housing developments. In the coming weeks, HUD will allocate an additional $1 billion in NSP funding, which was provided through the Dodd-Frank Wall Street Reform and Consumer Protection Act.


    ###
    About the U.S. Department of Housing and Urban Development: HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

    http://www.housingfinance.com/news/h...closed-homes_o

    Archive.
    Last edited by Newmexican; 06-08-2015 at 01:56 PM.

  2. #2
    Super Moderator Newmexican's Avatar
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    FHA Announces First Look Initiative for NSP 1 & 2 Grantees
    JULY 15, 2010
    HUD released a Notice in today’s Federal Register outlining the Federal Housing Administration (FHA) First Look Sales Method for Grantees, Nonprofit Organizations, and Subrecipients under the Neighborhood Stabilization Program (NSP). This program applies to both NSP 1 and NSP 2 and is effective today through May 31, 2013.

    Through this new temporary FHA real estate-owned (REO) sales method, HUD will provide eligible NSP purchasers with a preference – or first look – to acquire FHA REO properties, also called “HUD homes,” that are available for purchase within NSP areas. The program will also provide NSP purchasers with the opportunity to buy FHA properties at a discount of 10 percent below their appraised value, less the cost of applicable listing and sales commissions.

    Eligible NSP purchasers seeking to acquire FHA REO properties through the program are not required to complete an approval process, but must have information entered into HUD’s Single-Family Asset Management Systems (SAMS).

    The first look period will last approximately 14 days. Properties not purchased during that period will be listed and sold according to standard FHA procedures.

    https://www.ncsha.org/blog/fha-annou...p-1-2-grantees

  3. #3
    Super Moderator Newmexican's Avatar
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    Property Acquisition


    Program Overview


    NCST's national Property Acquisition Program, links the REO and distressed inventories of financial institutions (Sellers) with local housing providers who seek to acquire foreclosed, abandoned, or distressed properties within designated, targeted areas to stabilize neighborhoods. NCST facilitates the transfer of these properties from the Sellers to local providers engaged in neighborhood stabilization. This program is the nation’s only scalable platform to establish a systematic, predictable, and transparent means of moving properties from Sellers to local housing providers.


    REO properties are purchased through two programs:



    • First Look Program. Community Buyers receive an exclusive view of newly available REO properties in select neighborhoods from financial institutions, before those properties are listed for sale on the open market.


    • Donation Program. To supplement the purchase of REO properties in neighborhoods of greatest need, participating financial institutions make available vacant REO properties for donation to eligible organizations.


    Pre-foreclosure, low-value assets are conveyed through two programs:



    • The ReClaim Project: We work with community buyers in struggling, left-behind markets that are often plagued with low-value, non-performing assets. We identify and pursue solutions for these assets to help remediate serious borrower delinquency and disrepair - solutions that support neighborhood stabilization.


    • Mortgage Resolution Fund (MRF): MRF is the partnership of Mercy Portfolio Services, Enterprise Community Partners, the Housing Partnership Network, and NCST. We seek to further neighborhood stabilization efforts by preserving homeownership. We purchase non-performing loans and offer borrowers the opportunity for a permanently modified, affordable fixed-rate mortgage at a new reduced principal balance.


    Collaborative initiatives currently include two projects:



    • Neighborhood Stabilization Initiative (NSI): The NSI program is a joint program with the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac, and NCST as the non-profit partner. The program seeks the best disposition of distressed properties in particularly hard hit markets.
    • Block-by-Block Initiative: NCST will support Freddie Mac's Block-by-Block initiative, a program designed to revitalize urban neighborhoods that are struggling to recover from the economic crisis. It is intended to demonstrate that a holistic, collaborative plan involving local government, housing industry partners, nonprofit organizations and the tools and resources of a prominent secondary market solution provider can help facilitate sustainable neighborhood recovery.


    Program Goals

    • To stabilize neighborhoods left behind and devastated by foreclosures and abandonment.
    • To assist local government, non-profit, and socially motivated for-profit organizations efficiently acquire vacant and foreclosed properties.
    • To collaborate with financial institutions to serve as an efficient national conduit for REO and distressed asset transfers.


    Program Principles

    • Concentration is key for effective neighborhood stabilization efforts. We help local housing providers focus on key houses within targeted neighborhoods.
    • In left-behind neighborhoods with high levels of foreclosures and abandoned properties, coordinated participation from all mortgage servicers gives communities a better chance at creating solutions for vacant or foreclosed properties through renovation and reuse.
    • Local governments and non-profit organizations benefit from lower acquisition costs and decreased competition for REO properties and distressed assets when they are transferred through NCST, increasing the impact of community stabilization funds.
    • A stabilized neighborhood benefits all property holders (homeowners, renters, servicers and investors).

      http://www.stabilizationtrust.com/programs_services/property_acquisition/


  4. #4
    Super Moderator Newmexican's Avatar
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    National Community Stabilization Trust

    Sponsors


    NCST started as a unique experiment in collaboration, innovation, and visionary leadership, emerging from the grave concern of national and local organizations and municipalities about the devastating impact of home foreclosures on low- and moderate-income communities. Local housing providers needed a better way to work with financial institutions to access the foreclosed properties. Knowledge and experience in this area was limited. In addition, funding to cover costs associated with the purchase of these properties by local housing providers was grossly inadequate. But the need for neighborhood-based solutions was growing.

    Enterprise Community Partners, Housing Partnership Network, Local Initiatives Support Corporation(LISC) and NeighborWorks America, national organizations with extensive reach to hundreds of local non‐profit organizations, were driven by the immense scope of the foreclosure crisis into this collaboration. Given the important nature of the crisis, the founding organizations were joined by the National Urban League (NUL)and the National Council of La Raza (NCLR). These six national organizations joined forces to establish NCST to coordinate the transfer of REO properties/assets from financial institutions nationwide to local housing organizations, to assist in neighborhood stabilization efforts

    These non-profit intermediaries form the governance structure for NCST, provide leadership, and collaborate on the strategic direction of the organization to ensure that NCST is able to meet the needs of local communities working to stabilize neighborhoods.


    Enterprise Community Partners is a national nonprofit with 25 years of experience in the community development and affordable housing field. As one of the nation's leading nonprofit organizations, Enterprise is active in more than 800 communities around the country. Working directly with community development partners, Enterprise developed more than 200,000 affordable homes serving over a half a million low-income people, as well as comprehensive support systems necessary to sustain a community's growth, childcare, job training and education.

    The Housing Partnership Network is an award-winning business alliance of the nation's top performing nonprofit development organizations. Network members develop, manage and finance affordable homes that revitalize communities and provide economic opportunities for lower-income and working families. Entrepreneurial, innovative, and grounded in local markets, the Network forges partnerships with the private and public sectors to achieve large scale impact. Through the Network, members share knowledge and innovation, collaborate on business development, and advocate for policy changes to increase their performance and sustainability. Cooperative social enterprises organized by the Network enable nonprofits to pool their resources to access the capital markets on terms that reflect their scale and superior performance.

    Local Initiatives Support Corporation (LISC) helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones - good places to live, do business, work and raise families. By providing capital, technical expertise, training and information, LISC supports the development of local leadership and the creation of affordable housing, commercial, industrial and community facilities, businesses and jobs.

    NeighborWorks America is a national nonprofit organization created by Congress in 1978 to provide financial support, technical assistance, and training for community-based revitalization efforts. NeighborWorks America creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. Composed of three interrelated components – NeighborWorks America, the 230 plus local nonprofit organizations that are members of the NeighborWorks network and Related Capital Corporations - the NeighborWorks® system has generated significant investment in thousands of underserved communities across the nation as an effective and efficient model for leveraging significant private-sector resources in support of community revitalization and affordable housing opportunities.

    The National Council of La Raza (NCLR) - the largest national Hispanic civil rights and advocacy organization in the United States - works to improve opportunities for Hispanic Americans. Through its network of nearly 300 affiliated community-based organizations (CBOs), NCLR reaches millions of Hispanics each year in 41 states, Puerto Rico, and the District of Columbia. To achieve its mission, NCLR conducts applied research, policy analysis, and advocacy, providing a Latino perspective in five key areas - assets/investments, civil rights/immigration, education, employment and economic status, and health. In addition, it provides capacity-building assistance to its Affiliates who work at the state and local level to advance opportunities for individuals and families. Founded in 1968, NCLR is a private, nonprofit, nonpartisan, tax-exempt organization headquartered in Washington, DC. NCLR serves all Hispanic subgroups in all regions of the country and has operations in Atlanta, Chicago, Los Angeles, New York, Phoenix, Sacramento, San Antonio, and San Juan, Puerto Rico.

    Established in 1910, the National Urban League is the nation's oldest and largest community-based organization devoted to empowering African Americans to enter the economic and social mainstream. Today, the National Urban League spearheads the non-partisan efforts of its local affiliates. There are over 100 local affiliates of the National Urban League located in 35 states and the District of Columbia providing direct services to more than 2 million people nationwide through programs, advocacy and research. With respect to neighborhood stabilization efforts, the National Urban League will focus on economic development/workforce issues, homebuyer education and resident empowerment.

    http://www.stabilizationtrust.com/about/sponsors/

  5. #5
    Super Moderator Newmexican's Avatar
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    This is page 1.
    From HUD
    CPD Allocations and Awards

    CPD allocation and award data is currently available for the following programs:




    CPD Allocations and Awards

    Browse the award data by selecting the next page or use the filters on the left to narrow results by Year, Program, State, and Grantee.

    Filter By


    • All Years 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
    • All Programs CDBG: Community Development Block Grant Program CoC: Continuum of Care Program Emergency Shelter Grants Program ESG: Emergency Solutions Grants Program HOME Investment Partnerships Program HOPWA: Housing Opportunities for Persons With AIDS Program NSP: Neighborhood Stabilization Program
    • All States Alabama Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Northern Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virgin Islands Virginia Washington West Virginia Wisconsin Wyoming


    Total amount awarded for these results: $88,673,228,496.00

    Year Program Name & Type Organization Name Amount ($)
    2014 CDBG Alaska $2,418,984.00
    2014 ESG Alaska $198,264.00
    2014 HOME Alaska $3,017,887.00
    2014 HOPWA
    Competitive
    Alaska Housing Finance Corporation $956,642.00
    2014 CDBG Anchorage, AK $1,691,113.00
    2014 ESG Anchorage, AK $143,987.00
    2014 HOME Anchorage, AK $598,918.00
    2014 HOPWA
    Competitive
    AIDS Alabama $978,286.00
    2014 CDBG Alabama $22,212,610.00
    2014 ESG Alabama $2,315,912.00
    2014 HOME Alabama $8,906,848.00
    2014 HOPWA
    Formula
    Alabama $1,466,392.00
    2014 CDBG Anniston, AL $528,169.00
    2014 HOME Anniston, AL $333,179.00
    2014 CDBG Auburn, AL $456,750.00
    2014 CDBG Bessemer, AL $497,677.00
    2014 CDBG Birmingham, AL $5,465,565.00
    2014 ESG Birmingham, AL $453,937.00
    2014 HOME Birmingham, AL $1,113,639.00
    2014 HOPWA
    Formula
    Birmingham, AL $589,189.00
    2014 CDBG Decatur, AL $421,988.00
    2014 CDBG Dothan, AL $447,701.00
    2014 CDBG Florence, AL $334,410.00
    2014 CDBG Gadsden, AL $903,172.00
    2014 HOPWA
    Competitive
    Health Services Center $926,965.00
    2014 CDBG Hoover, AL $303,740.00
    2014 CDBG Huntsville, AL $1,172,513.00
    2014 HOME Huntsville, AL $504,625.00
    2014 CDBG Jefferson County, AL $1,746,595.00
    2014 ESG Jefferson County, AL $143,468.00
    2014 HOME Jefferson County, AL $632,924.00
    2014 CDBG Mobile County, AL $1,577,243.00
    2014 ESG Mobile County, AL $134,250.00
    2014 HOME Mobile County, AL $534,992.00
    2014 CDBG Mobile, AL $2,228,413.00
    2014 ESG Mobile, AL $183,790.00
    2014 HOME Mobile, AL $751,220.00
    2014 CDBG Montgomery, AL $1,622,903.00
    2014 ESG Montgomery, AL $135,350.00
    2014 HOME Montgomery, AL $719,339.00
    2014 CDBG Opelika, AL $207,730.00
    2014 CDBG Tuscaloosa, AL $832,927.00
    2014 HOME Tuscaloosa, AL $339,212.00
    2014 CDBG Arkansas $16,382,141.00
    2014 ESG Arkansas $1,967,063.00
    2014 HOME Arkansas $7,565,698.00
    2014 HOPWA
    Formula
    Arkansas $533,353.00
    2014 CDBG Bentonville, AR $168,177.00
    2014 CDBG Conway, AR $406,010.00
    2014 CDBG Fayetteville, AR $585,484.00
    2014 CDBG Fort Smith, AR $801,700.00
    2014 HOME Fort Smith, AR $315,294.00
    2014 CDBG Hot Springs, AR $355,404.00
    2014 CDBG Jacksonville, AR $208,089.00
    2014 CDBG Jonesboro, AR $573,150.00
    2014 CDBG Little Rock, AR $1,410,585.00
    2014 HOME Little Rock, AR $615,595.00
    2014 HOPWA
    Formula
    Little Rock, AR $317,342.00
    2014 CDBG North Little Rock, AR $574,300.00
    2014 HOME North Little Rock, AR $264,733.00
    2014 CDBG Pine Bluff, AR $544,114.00
    2014 HOME Pine Bluff, AR $207,521.00
    2014 CDBG Rogers, AR $387,735.00
    2014 CDBG Springdale, AR $800,474.00
    2014 CDBG Texarkana, AR $248,981.00
    2014 CDBG West Memphis, AR $331,035.00
    2014 CDBG American Samoa $1,032,423.00
    2014 ESG American Samoa $73,947.00
    2014 HOME American Samoa $192,906.00
    2014 CDBG Arizona $9,146,952.00
    2014 ESG Arizona $1,414,251.00
    2014 HOME Arizona $4,955,036.00
    2014 HOPWA
    Formula
    Arizona $230,863.00
    2014 CDBG Avondale, AZ $601,961.00
    2014 CDBG Chandler, AZ $1,191,063.00
    2014 HOPWA
    Competitive
    Cochise County, AZ $655,584.00
    2014 CDBG Douglas, AZ $191,598.00
    2014 CDBG Flagstaff, AZ $570,941.00
    2014 CDBG Gilbert, AZ $814,625.00
    2014 CDBG Glendale, AZ $2,080,497.00
    2014 ESG Glendale, AZ $169,835.00
    2014 CDBG Maricopa County, AZ $2,648,381.00
    2014 ESG Maricopa County, AZ $210,396.00
    2014 HOME Maricopa County, AZ $3,339,733.00
    2014 CDBG Mesa, AZ $3,172,935.00
    2014 ESG Mesa, AZ $257,074.00
    2014 HOME Mesa, AZ $993,434.00
    2014 CDBG Peoria, AZ $695,785.00
    2014 CDBG Phoenix, AZ $14,644,765.00
    2014 ESG Phoenix, AZ $1,201,782.00
    2014 HOME Phoenix, AZ $4,220,937.00
    2014 HOPWA
    Formula
    Phoenix, AZ $1,799,714.00
    2014 CDBG Pima County, AZ $2,498,848.00
    2014 ESG Pima County, AZ $204,473.00
    2014 CDBG Prescott, AZ $238,655.00
    2014 CDBG Scottsdale, AZ $895,072.00
    2014 CDBG Sierra Vista, AZ $206,330.00
    2014 CDBG Surprise, AZ $541,946.00
    2014 CDBG Tempe, AZ $1,380,837.00
    2014 CDBG Tucson, AZ $5,113,873.00




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