Piece by Piece
Study: Counseling Effective
Redlining, again?
Lending to Low-Mod Incomes Down
HUD Launches New Ads
Will VA Meet Goal?
New VA Awards
Community: Homeowner vs Renters
Judgments Follow Foreclosed
Distressed Sale Program Changed
Meet the New Landlords
Hispanics Fastest Growing Buyers
New Mortgage Mapping Tool
Student Debt Hampers Buying
2014 Paycheck to Paycheck
Draft FHFA Goals Announced
Thoughts on Community Gardens?
Calendar Items


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Piece by Piece Update

October 2014





Please take note of the following news and calendar updates:


New Study Shows Foreclosure Prevention Counseling is Very Effective


(Courtesy of NHC, Rebekah King) The Urban Institute has announced its findings from a four-year evaluation of Rounds Three through Five of the National Foreclosure Mitigation Counseling (NFMC) program. The evaluation found that foreclosure prevention counseling is very effective; counseled homeowners are more likely to cure a delinquency or foreclosure and more likely to modify their loan than non-counseled homeowners.  MORE


Study Reveals Atlanta's Spotty Housing Recovery; Raises Concerns about Redlining


(Courtesy of Saporta Report, David Pendered): The greatest rebound of home prices in metro Atlanta has occurred in communities that are predominately white and comparatively affluent, according to a new report by Dr. Dan Immergluck, Georgia Tech.  "There are places that recovered, but they tend to be affluent and they don't depend on mortgage markets," Immergluck said.  The report shows the need for regulators to refocus on fair lending. Risk-averse lenders have gone so far in restricting loans that entire sections of metro Atlanta are essentially off limits to groups of home shoppers who traditionally bought in those neighborhoods, according to Immergluck.  MORE |  REPORT SLIDES


HMDA Data Shows Decline in Home Purchase Lending to Low- and Moderate-Income Borrowers


(Courtesy of NHC): The Federal Financial Institutions Examination Council (FFIEC) released 2013 Home Mortgage Disclosure Act (HMDA) data for 7,190 financial institutions. The HMDA data cover 2013 lending activity and includes applications, originations, purchases and sales of loans, denials and other actions related to applications. According to NCRC, the data showed that home purchase lending to low- and moderate-income borrowers declined to 28.4 percent in 2013 from 33.4 percent in 2012.  MORE  |  STATEMENT FROM NCRC

HUD Launches New Public Service Ads to Reach Struggling Homeowners


HUD, in partnership with the Department of Treasury and the Ad Council, launched a new series of public service announcements (PSAs) to increase awareness of the Making Home Affordable program (MHA). This newest phase is targeted to homeowners who may be current on their payments but because of a hardship are struggling financially. Treasury has already extended MHA to run through Dec. 31, 2016.  MORE


Will Veterans Administration Meet its Goal to End Homelessness


(Courtesy of New York Times): Since 2010, the Obama administration has spent $4 billion seeking to fulfill a pledge by Eric Shinseki, the former secretary of Veterans Affairs (VA), to end veterans' homelessness by the end of next year.  By most accounts, the effort has made significant strides, placing 51,000 veterans in housing and establishing what advocates for the homeless say is a promising model.  But with a little more than a year to go, few experts believe the department will come close to meeting Mr. Shinseki's deadline. An estimated 50,000 veterans are still homeless.  MORE

VA Awards New Supportive Housing Funds to Help End Veteran Homelessness


The VA recently announced that it has awarded an additional $207 million in grants to nonprofit organizations across the country to assist them in their local push to end veteran homelessness.Under the terms of the SSVF grants, homeless providers offer Veterans and their family members outreach, case management, assistance in obtaining VA benefits and assistance in receiving other public benefits.  Community-based groups can offer temporary financial assistance on behalf of Veterans for rent payments, utility payments, security deposits and moving costs. MORE

Homeowners, Renters Differ on Views of Communities


(Courtesy of Housing Matters): Fifty-five percent of homeowners feel safe in their neighborhoods, while only 30% of renters say the same, according to the Atlantic Media/Siemens State of the City poll. Among other findings: 46% of owners say their community is excellent, while 27% of renters feel that way.  MORE


Deficiency Judgments Follow Foreclosed Borrowers


(Courtesy of Housing Matters): Some former homeowners who lost their homes in the housing bust are seeing their bank accounts frozen, wages garnished and assets seized as lenders pursue deficiency judgments, or the amount owed that was not recovered through the sale of the house. Fannie Mae is among the most aggressive debt pursuers; a spokesman says Fannie Mae is focused on "strategic defaulters."  MORE

HUD Makes Changes to Distressed Asset Sale Program


(Courtesy of NHC, Rebekah King): Recently, HUD announced some program changes which aim to improve the Distressed Asset Sales Program (DASP). The changes include expanding the Direct Sale program for local governments, enhancing loss mitigation quality control processes and more outreach and support to nonprofits that want to participate. Also, HUD will expand the number of loan pools in the neighborhood stabilization outcome (NSO) sale to 13 pools and create micro-pools that are small to mid-sized, putting more loans into the NSO pool and giving nonprofits a better chance to participate.  MORE

RELATED STORY: An opinion piece by Sarah Edelman and Julia Gordon (Center for American Progress) published in the American Banker offers recommendation on how auctioning troubled mortgages can help boost the housing recovery. MORE

Meet the New Landlords; Rise of Single Family Investors in Housing Market


(Courtesy of Community Investments, Summer/Fall 2014, Federal Reserve Bank of San Francisco): In the first quarter of 2014, cash buyers, who are often likely to be investors, made up about 43 percent of all home purchases, according to Sarah Edelman with the Center for American Progress.  Instead of reselling the homes, they are largely choosing to convert them into single-family rental homes.  Edelman examines the opportunities and risks.  MORE  


Hispanics Are Fastest-Growing Group of Home Buyers 


(Courtesy of Housing Matters): The growth in Hispanic homeownership in the U.S. is outpacing homeownership growth in the general population by a wide margin, with Hispanic homeownership increasing 59% between 2000 and 2013, compared with an 8% growth rate overall, according to Christina Diaz-Malone, vice president of housing and community outreach at Freddie Mac. The trend points to Hispanics as a key group when it comes to housing demand in coming years.  MORE


Urban Institute Releases Mortgage Mapping Tool


(Courtesy of Enterprise Community Partners Capitol Express Newsletter):

A new tool developed by the Urban Institute maps 12 years of data on more than 100 million mortgage originations throughout the U.S. by race and ethnicity, illustrating how the housing boom and bust affected borrowers of different backgrounds by metropolitan area.According to the data, not only were African-American and Hispanic communities particularly damaged by the housing bust, but they have also been the least likely to recover since the recession. The map also shows how geographically uneven the housing recovery has been. MORE


Student Loan Debt Hampers Millennials' Ability to Buy Homes


(Courtesy of NeigborWorks America Blog): A growing number of millennials are carrying student loan debt, and the burden can hamper their ability to find affordable homes. NeighborWorks America blog post provides insights into the extent of the problem and how early intervention with financial education can help.  MORE


NHC Releases Annual Paycheck to Paycheck Report


(Courtesy of NHC): When full-time wages are not sufficient to afford housing, the health and vitality of America's communities suffer. Unfortunately, renting or buying typical housing in many U.S. metro areas requires higher than median earnings for police officers, nurses, teachers, janitors, and other key roles that make our communities safe, healthy, and vibrant places to live.  MORE


FHFA Publishes Draft Affordable Housing Goals 


(Courtesy of Enterprise Community Partners, Capitol Express Newsletter): On August 29, the Federal Housing Finance Agency (FHFA) issued a draft rule that proposes new affordable housing goals for Fannie Mae and Freddie Mac for 2015 through 2017. Among other provisions, the rule proposes steady increases of Freddie Mac's low-income and very low-income multifamily production goals (while keeping Fannie Mae's steady), as well as new goals for affordable small multifamily lending. The FHFA is also seeking comments on three alternative approaches to measuring and tracking these goals.  MORE


Can You Help Advise on Community Gardens?


Are you involved with an educational or community gardening project? The Atlanta Community Food Bank is conducting a survey on Metro Atlanta's gardening needs, and we would value your feedback. If you have already participated in a phone survey or visit in the last two months from us, then thank you again and there is no need to respond.  The purpose of this survey is to learn about your success stories, and understand the principle barriers starting and maintaining a community, school, or educational garden. We are interested in your opinions and experiences. The survey should not take more than 30 minutes of your time. TAKE THE SURVEY.  The survey can also be done in person or by phone, if you would prefer. Contact ACFB.




Share your calendar items with us! Please email Susan Adams at [email protected] with news of your upcoming events.


For the HomeSafe Georgia calendar items below, visit www.HomeSafeGeorgia.com for more information.



Come-In-To-Connect! Middle Georgia Community Event; October 25, 2014; 10:00 a.m. - 2:00 p.m.; Buck Melton Community Center, Macon;


Upcoming November events:


Veterans Career Fair, November 6, 2014; 9 a.m. - Noon; Gainesville Career Center;


Total Employment for American Military; November 6, 2014; 10 a.m. - 2 p.m.; Wiregrass Technical College, Valdosta;


Health Fair; November 15, 2014; 10 a.m. - 3 p.m.; Lovejoy Community Center; Lovejoy;


Veterans Helping Veterans; November 19, 2014; 9 a.m. - 1 p.m.; Hilton Garden Inn, Midtown, Savannah.


Homeowners who became unemployed or underemployed within the last 36 months may be eligible for temporary mortgage payment assistance;   and homeowners who have experienced other financial hardships within the last 36 months i.e. those associated with military service, death of a spouse, or medical hardships may be eligible for HomeSafe Georgia assistance.    We encourage potential eligible homeowners to attend one of the events.


Churches, clubs and community organizations are encouraged to inform others about the above events and to help those without internet access to apply for these funds. For more information, please visit www.HomeSafeGeorgia.com



October 7 - Community and Economic Development Symposium "On the Rebound," Georgia Tech Hotel and Conference Center.  This event, hosted by APD Solutions,  will bring business and community leaders, elected officials, board members and others involved in community redevelopment and economic development across the southeast to collaborate on innovative strategies that stimulate sustainable growth in our communities. MORE


October 27 - 31; NHC Solutions Webinar Week.   If you're considering attending Solutions 2014 but aren't sure what to expect, Solutions Webinar Week is for you! Get a taste of Solutions 2014 by joining us for a week of webinars that will showcase the depth of expertise, range of perspective and quality of information you can expect at the conference.  Register for a webinar.


October 29 - Save the Date - Fall Affordable Housing Conference, Presented by Georgia ACT. State Bar of Georgia, 104 Marietta Street, Atlanta, GA 30303. Register Now.

November 5; 8:30 am - 12 pm, Information Exchange and Dialogue about Inclusionary Housing, Atlanta Regional Commission, Harry West B,  40 Courtland St. NE, 30303. Please RSVP to Marisa Ghani ([email protected]) by Friday, October 31st.  Event is hosted by The Atlanta Equitable Transit Oriented Development Collaborative, in partnership with Georgia State University and with

support from the Ford Foundation.


November 18-20: National Housing Conference (NHC) Solutions 2014 Conference in Oakland, CA.  National conference on state and local housing policy will feature best practices in helping communities across the country meet affordable housing challenges.  Online registration is now available.  www.nhc.org/Solutions-2014.html 



November 19: 4th Annual GSHA Conference Policy Day, GSHA Policy DAY, Wednesday November 19, 2014 from 7:30 AM to 4:30 PM EST

The State Bar of Georgia's Conference Center, 104 Marietta St. NW, Suite 100, Atlanta, GA 30303. For more information, contact Paul Bolster of Georgia Supportive Housing Association, 404-627-1697, [email protected] 






Susan Adams

Piece by Piece Coordinator