The Neighborhood Reinvestment Corporation, doing business asNeighborWorks America, is a congressionally chartered nonprofit organization that supports community development in the United States and Puerto Rico. The organization provides grants and technical assistance to more than 240 community development organizations. NeighborWorks America provides training for housing and community development professionals through its national training institutes.[2] Since 2007, NeighborWorks America has administered the Congressionally created National Foreclosure Mitigation Counseling Program.[3]
The NeighborWorks network comprises more than 240 community development organizations working in urban, suburban and rural communities across the country.[4]
Early origins of the nonprofit NeighborWorks® America are traced to 1968, when Dorothy Mae Richardson, a Central North Side resident of Pittsburgh, started a campaign for better housing in her neighborhood.[5][6][7][8] Dorothy Mae Richardson worked with city bankers and government officials to convince 16 financial institutions to give out conventional loans in the community.[9] Her legacy was an organization named the Neighborhood Housing Services (NHS) of Pittsburgh.[10] Eventually, Neighborhood Housing Services of Pittsburgh became the national model for community-based housing initiatives throughout the country.[11][12][13] In 1970, the Federal Home Loan Bank Board, became involved with Neighborhood Housing Services (NHS) of Pittsburgh, and started expanding the program by training savings and loan officers for urban areas nationally.[14]
In 1978, Congress chartered Neighborhood Reinvestment Corporation, with a mission to recreate Neighborhood Housing Services of Pittsburgh's housing program throughout the nation's cities.[15]
In 1984 the first Neighborhood Housing Week[16] (now called NeighborWorks Week) was congressionally established. President Ronald Reagan proclaimed a national observance.
During the 1980s, the Ad Council worked with Neighborhood Reinvestment Corporation and created “NeighborWorks.”
Neighborhood Reinvestment Corporation began doing business as NeighborWorks America in 2005.[17]
In 2007, Congress selected NeighborWorks America to administer the National Foreclosure Mitigation Counseling program. In a continuing effort to assist in recovery from the housing crisis, in 2009 NeighborWorks launched the Loan Modification Scam Alert campaign and Stable Communities Initiative. In June 2011, the U.S. Department of Housing and Urban Development, in partnership with NeighborWorks America, launched the Emergency Homeowners' Loan Program to assist homeowners across the country at risk of foreclosure.[18]
There are now more than 240 NeighborWorks organizations operating in urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the past five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America has become a leading trainer of community development, financial capability and affordable housing professionals. NeighborWorks America has helped more than 1.7 million homeowners through its congressionally funded National Foreclosure Mitigation Counseling program. [18]
Community Leaders
In honor of its namesake, NeighborWorks America nationally offers the Dorothy Richardson Award for Resident Leadership.[19]
Dorothy Richardson continued to live in Pittsburgh, Pennsylvania as an active community member and supervisor of the Pittsburgh Housing Clinic, until her death on April 28, 1991, at Allegheny General Hospital. She lived to 68.
The Home Owners' Loan Corporation (HOLC) was a government-sponsored corporation created as part of the New Deal. The corporation was established in 1933 by the Home Owners' Loan Corporation Act under the leadership of President Franklin D. Roosevelt. Its purpose was to refinance home mortgages currently in default to prevent foreclosure, as well as to expand home buying opportunities.
Redlining is a discriminatory practice in which services are withheld from potential customers who reside in neighborhoods classified as "hazardous" to investment; these neighborhoods have significant numbers of racial and ethnic minorities, and low-income residents. While the best-known examples involve denial of credit and insurance, also sometimes attributed to redlining in many instances are denial of healthcare and the development of food deserts in minority neighborhoods. In the case of retail businesses like supermarkets, the purposeful construction of stores impractically far away from targeted residents results in a redlining effect.
The United States Department of Housing and Urban Development (HUD) is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. It is headed by the Secretary of Housing and Urban Development, who reports directly to the President of the United States and is a member of the president's Cabinet.
The Association of Community Organizations for Reform Now (ACORN) is an international collection of autonomous community-based organizations that advocates for low- and moderate-income families by working on neighborhood safety, voter registration, health care, affordable housing, and other social issues. They, along with a number of other community unions, are affiliated under ACORN International.
The Community Reinvestment Act is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods. Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.
Nehemiah Corporation of America is a non-profit organization based in Sacramento, California specializing in homeownership, affordable housing and community development. It started in 1994 as a small organization, but grew to prominence later in the 1990s after it developed a program that allowed home buyers to make down payments on their purchases using funds that were derived from the home sellers. This program, the Nehemiah Program, became popular and was widely emulated, giving birth to what came to be known as the seller-funded down-payment assistance industry. The industry attracted criticism from U.S. federal agencies and was ultimately shut down in 2008 by a change in federal law.
Mortgage discrimination or mortgage lending discrimination is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion.
Title 12 of the United States Code outlines the role of Banks and Banking in the United States Code.
The Hope Now Alliance is a cooperative effort between the US government, counselors, investors, and lenders to help homeowners who may not be able to pay their mortgages. Created in 2007 in response to the subprime mortgage crisis, the alliance claims to have helped over 1 million homeowners avoid foreclosure through January 2008. Critics of the alliance contend that the assistance provided does not go far enough, and that not enough homeowners are being helped.
Housing prices peaked in early 2005, began declining in 2006.
The Helping Families Save Their Homes Act of 2009 is an enacted public law in the United States. On May 20, 2009, the Senate bill was signed into law by President Barack Obama. The stated purpose of the act, a product of the 111th United States Congress, was to allow bankruptcy judges to modify mortgages on primary residences, among other purposes; however, that provision was dropped in the Senate and is not included in the version that was eventually signed into law. In addition, the bill amends the Hope for Homeowners Program as well as provide additional provisions to help borrowers avoid foreclosure.
Foreclosure rescue in the United States is where a mortgage that is in arrears and where the lender is at the stage of foreclosing on the loan agrees to stop the foreclosure in exchange for funds received through loan modification or from a government grant. It may also refer to funds that allow the homeowner to repurchase the property at or after foreclosure.
Women in Housing and Finance (WHF) is a membership organization of professionals in the area of housing and finance located in the greater metropolitan area of New York City. Founded in 1981, WHF promotes and supports the professional growth of women in housing, finance and development and provides a vehicle through which members share knowledge and experience.
The National Community Stabilization Trust is a Washington, D.C.-based non-profit organization that facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations to promote property reuse and neighborhood stability. According to U.S. Banker, the Stabilization Trust was "created to act as a middleman between cities looking to acquire abandoned properties and the lenders looking to unload them."
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve. Of the total 4.6 million units in the social housing sector, non-profit developers have produced approximately 1.547 million units, or roughly one-third of the total stock. Since non-profit developers seldom have the financial resources or access to capital that for-profit entities do, they often use multiple layers of financing, usually from a variety of sources for both development and operation of these affordable housing units.
Dorothy Mae Richardson was an African American community activist who is credited with introducing a new model of community development in the late 1960s when she led a resident campaign for better housing in her neighborhood on the Central North Side of Pittsburgh, Pennsylvania.
Joseph M. Otting is an American businessman and government official. He served as the 31st Comptroller of the Currency from November 27, 2017 to May 29, 2020.
The Thai Community Development Center is a nonprofit NGO in Los Angeles, California that assists Thai and other immigrants.
The Union Miles Development Corporation is a nonprofit community development corporation serving the Union-Miles Park statistical planning area in Cleveland, Ohio, in the United States. Created in 1981 by the Union Miles Community Coalition, it was successful in drawing national attention to discriminatory practices in lending practices and won passage of an Ohio law reforming housing foreclosure procedures.
Nadine Kuniko Nakamura is an American politician and Democratic member of the Hawaii House of Representatives. She represents District 14, encompassing east and north Kaua`i, from Wailua to Haena. She won the seat after incumbent Democrat Derek Kawakami decided to run for a seat in the Kauai County Council. Nakamura won re-election in 2020 against Republican candidate Steve Monas, 76.2% to 23.8%.
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