NeighborWorks Oshkosh Services & Activities

Presented to the City of Oshkosh July 12, 2011

July 12, 2011

Oshkosh Program Services

Proposed Contracted Activities and Services
The NWOSHKOSH Full-Cycle First Time Home Buyer Program, would contract with the City to: 1. Conduct a Full-Cycle First Time Home Buyer Program in the City of Oshkosh 2. Build Community and Neighborhood Partnerships to revitalize neighborhoods 3. NWOSHKOSH will maintain our organizations certification as a HUD-approved housing counseling agency, and remain HUD compliant 4. Market the First-time Home Buyer program community wide 5. Market RDA project properties to CDBG and HOME eligible creditworthy families participating in the First Time Home Buyer Program 6. For creditworthy non-bankable families, NWOSHKOSH will package seller-designed bridge financing to limit risk, enhance success, and build home buyer equity (with PJ to pre-determine policy parameters for sales prices and other qualifiers such as terms and conditions). The target market for the sale of the HOME built vacant houses are families that are in need of affordable housing that are both creditworthy but still not able to secure private home mortgage financing 7. NWOSHKOSH will interview and evaluate all customers interested in the First-Time Home Buyer program 8. NWOSHKOSH will provide property management services and warranty repair work for the ongoing maintenance of the RDA project properties 9. NWOSHKOSH will plan, attend, and execute the real estate closing as required 10. NWOSHKOSH will service seller-financed bridge loans as needed, calculating and tracking any program income generated from lending activities 11. NWOSHKOSH will provide pre- and post-purchase home buyer education (as a main feature of the First-time Home Buyer program), and will award education completion certificates consistent with the established national standards 12. NWOSHKOSH will form and staff the various expert committees to underwrite, recommend, and approve program decision making 13. NWOSHKOSH will be responsible for ongoing reporting, records, follow-up, evaluation, and compliance.

July 12, 2011

The NHS Mission Statement

The purpose of Neighborhood Housing Services of Southeast Wisconsin, Inc. is to renew pride, restore confidence, promote reinvestment, and revitalize the NHS neighborhoods through the efforts of local residents acting in concert with financial institutions, corporate enterprise and the business community, foundations and local government.

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NHS Credentials
Organized in 1982 501 C 3 Corporation Licensed State of Wisconsin Charitable Organization NeighborWorks Chartered Member Member NeighborWorks America Campaign for Home Ownership NeighborWorks America Full-Cycle Lender HUD-certified Counseling Agency Official NeighborWorks Home Ownership Center Status Unqualified Audit Opinions since inception in 1982 eHome America Member State of Wisconsin Licensed Dwelling Contractor Approved counseling agency for the City of Racine and the City of Racine IDA Program NHS home ownership course materials are endorsed by: Freddie Mac, American Bankers Association, National Association of Realtors, and NeighborWorksAmerica NHS has adopted and abides by the National Industry Standards for Home Ownership Education & Counseling, and the National Industry Code of Ethics and Conduct for Home Ownership professionals. (Visit www.homeownershipstandards.com for more information on NISHEC)

Campaign for Home Ownership Report 2010 Report

The NeighborWorks Campaign for Home Ownership is the largest national initiative of its kind and strives to make home ownership a reality for more Americans. NeighborWorks organizations like ours are a force for positive change both locally and nationally. Since 1998 NHS has counseled over 3,200 families in managing their finances, improving their credit, getting a mortgage loan, shopping for a home, keeping their home, and basic home maintenance. Most of our families have been low-income, Of the 3,200 families and more than half were minorities.

counseled at our Home Ownership Centers; 723 of them have become first time home buyers. Our efforts are making a difference to the clients we serve and to the neighborhoods where we work. Since 1998 NHS has brought investment to the neighborhood totaling $76,008,159. In 2010 the NHS Home Ownership Program trained 270 families resulting in 51 graduates who became prepared and qualified first time homebuyers that brought investment to our neighborhoods totaling $5,886,303! The work of NHS preserves and promotes community stability by improving the existing housing stock in Southeast Wisconsins inner city neighborhoods by encouraging Home Ownership, educating potential homebuyers about the financial markets available for home purchase, preparing families for Home Ownership by strengthening their credit, helping existing homeowners with home maintenance education, and promoting renewed pride in Home Ownership

NHS HAS A NEW PARTNER!

No time to attend an NHS Home Buyer Education class? Cant find a babysitter? Work weekends and evenings? Dont worry! You can still become an educated home buyer! NHS On-line!! Our Online Homebuyers Education Course gets homebuyers on the right track! Developed by a HUD-certified nonprofit agency, the course satisfies homeownership education requirements by governmental agencies. Cost is low and homebuyers learn our curriculum at their own pace from anywhere at www.eHomeAmerica.org/nhswi. Before you buy a house, use your mouse!

in the neighborhoods we serve. eliminating displacement and

Participation in our program encouraging growth of

is voluntary, and housing is purchased in the marketplace, investment in our neighborhoods. The pride of Home

Ownership and the creation of owner-occupied residences contribute to the security and stability of the neighborhood. Although NHS works with all families, low- to very-low income families will have access to special financing tools (down payment assistance, rehab grants/loans, low-interest financing) enhancing their efforts and helping them achieve their dream of affordable Home Ownership.

NHS Offers a New Financing Source for Home Buyers

NHS of Southeast Wisconsin proudly offers home buyers another powerful toola loan search engine that uses their unique credit profile to evaluate the loan options available to them from 80+ lenders. Within minutes buyers can be approved and choose from the best options available in the marketplace. Its like nothing you have seen in the market today. One underwriting systemall lendersone-stopshop. And endorsed by NeighborWorks America!

NeighborWorks Oshkosh 111 N. Main, Room 407, Oshkosh, WI Phone: 920-230-6766 | Fax: 920-230-6765 nwoshkosh@nhswi.org | www.nhswi.org