Neighborhood Housing Services Silicon Valley

Programs: Home ownership centerthe home ownership center program provides a "one-stop" service center for prospective homebuyers through ongoing classes in homebuyer education, credit repair, preventive maintenance and individual pre- and post-purchase counseling. The program also assists prospective homebuyers in obtaining mortgage financing. To date, the organization's homeownership center has educated and counseled over five thousand prospective homebuyers. In addition to its first-time homebuyer programs, the organization provides foreclosure intervention counseling to troubled homeowners who may lose their homes through foreclosure because of an overly burdensome mortgage loan, job loss, or other destabilizing events. During the year ended june 30, 2015 the organization assisted 111 families. Since establishing these services, the organization has assisted over 4,000 families and prevented over 600 or 20% of these homes from foreclosure. Community building and organizing - the community building and organizing (cbo) program assists neighborhoods leaders and their low- and moderate-income residents to become active in neighborhood revitalization efforts. The three main components include: - neighborhood development training conference - now serving up to 400 neighborhood leaders in co-sponsorship with san jose state university, city of san jose, communivercity, and the united neighborhoods of santa clara county. - community leadership institute - participants obtain high level intensive training from neighborworks america to take on their most challenging neighborhood projects. The organization continues to sponsor 6 participants each year from high profile neighborhoods needing assistance with community improvement projects. - responsible landlord engagement initiative (rlei) - the organization partners with united neighborhoods of santa clara county and several other stakeholders to hold private landlords accountable to making lasting improvements to their properties in some of the most marginalized neighborhoods in the region. The organization leverages these partnerships and grass roots efforts to build additional credibility and support for its other lines of business. In the first quarter of the fy 2014. 2015, the organization received $22,500 funding from the city of san jose and $ 2500 from nwa. This program served 126 people.

lending programmortgage lending - secondary financing: the organization provides special mortgage products to first-time homebuyers, including deferred or performing secondary financing, to bridge the affordability gap and achieve homeownership. The homeventure fund (hvf) program provides performing second mortgages with deferred interest and payments to low- and moderate-income individuals. The calhome program provides deferred second mortgages to low-income individuals. The hvf - performing secondary financing is capitalized by the city of san jose and housing trust of santa clara county. Mortgage lending - retail loan origination: the organization originates, underwrites, and funds and brokers first mortgages for qualifying individuals and sells the first mortgages to fannie mae. The financing of these loans comes from the organization's line of credit from focus bank, dignity health loan and the religious community investment fund. In the period ending june 30, 2015 the organization funded 71 first mortgages totaling over $21 million in local investment. Mortgage lending - wholesale loan orgination: the mortgage lending - wholesale loan origination fee-based program operates under a real estate broker's license issued by the state of california department of real estate. The program charges fees to low- and moderate-income homebuyers for arranging and packaging first mortgage loans, primarily for first-time homebuyers "graduating" from the homeownership center and/or participating in the hvf or other secondary financing programs. The organization also refinances existing mortgages using conventional mortgage products. This program served 71 people.

real estate sales and developmentthe real estate sales fee-based program operates under a real estate broker's license issued by the state of california department of real estate. The program charges a commission, based on the purchase price, to support homebuyers with the purchase of their home. Real estate sales agents research available properties, help prospective homebuyers submit offers, negotiate terms and ensure a smooth escrow closing. Neighborhood housing services silicon valley's agents also specialize in short sale negotiation giving families an alternative to foreclosure. The organization also serves as exclusive agent and manages below market rate (bmr) programs for several local jurisdictions including the cities of santa clara, burlingame, morgan hill, and los altos, los gatos. The organization has also managed and sold the bmr units developed by the nonprofit housing agency south county housing, based in gilroy. During the year ended june 30, 2015 the real estate sales team completed 40 transactions, 28 of which were bmrs. The organization has further responded to the need for more unrestricted affordable properties by launching a comprehensive acquisition, rehabilitation, resale (arr) program. The real estate team added a dedicated project manager whose duties included developing systems and protocols for analyzing and processing acquisition opportunities including foreclosed properties acquired from thenational community stabilization trust, purchasing distressed bmr properties, and submitting cash offers on lower priced homes in targeted neighborhoods of san jose.