Funding Partners to Present to Federal Banking Audience
Fort Collins, CO, July 1, 2008 - Funding Partners, a not-for-profit Community
Development Financial Institution (CDFI), has been asked to present a model program
for addressing the foreclosure crisis at an upcoming symposium co-sponsored by
the Federal Reserve Bank of San Francisco, the Federal Deposit Insurance Corporation
and Office of the Comptroller of the Currency.
“Stabilizing Communities – Addressing the Negative Impacts of Foreclosure” will be held at the Hollywood Renaissance Hotel in
Los Angeles on July 15 and 16th. The symposium will convene national experts to answer questions and share best
practices for stabilizing communities and for mitigating the negative impacts
of foreclosures on borrowers. The workshops and plenary sessions are designed for local practitioners working
to develop solutions to the foreclosure crisis. Attendees will include lenders, loan servicing agents, community development
organizations, housing counselors, housing developers, public officials and policy-makers.
Funding Partners Executive Director,
Joe Rowan, will present the FP Foreclosure Reset program, describing the financial structure
and functional issues associated with this model program developed by the organization. The Foreclosure Reset program relies on numerous partnerships to: identify households
subject to financial distress and mortgage default; engage households with counseling
agents; intervene with lenders to modify loan terms; negotiate property or mortgage
note sales; provide interim financing and stabilize highly impacted neighborhoods. The Foreclosure Reset program is intended to provide a method for allowing affected
families to remain in their home as renters while they prepare to re-acquire the
home at some point in the future.
For more information on the symposium, visit: http://www.frbsf.org/community/resources/2008/0715/index.html
For more information on Funding Partners, visit www.fundingpartners.org