Funding Partners to Present to Federal Banking Audience
Release Date:July 1st, 2008

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

Contact Information:
Megan Gifford
970.494.2021
Funding Partners for Housing Solutions
214 S. College Ave, Second Floor
Fort Collins, Colorado 80524