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HUD Housing Counseling National Federation of Community Development Credit Unions. Presented by Sarah Gerecke Deputy Assistant Secretary, Office of Housing Counseling. April 4, 2013. Agenda. What is HUD Housing Counseling? Impact of Housing Counseling HUD’s Role

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hud housing counseling national federation of community development credit unions

HUD Housing CounselingNational Federation of Community Development Credit Unions

Presented by Sarah GereckeDeputy Assistant Secretary, Office of Housing Counseling

  • April 4, 2013
agenda
Agenda
  • What is HUD Housing Counseling?
  • Impact of Housing Counseling
  • HUD’s Role
  • How to find agencies in your area
slide3

What is Housing Counseling ?

About 2,500 nonprofit agencies nationwide are approved to provide numerous counseling services, including:

  • Pre-purchase Education
  • Reverse Mortgage
  • Mortgage Delinquency
  • Financial Management
  • Rental Assistance
  • Homelessness
  • Applying for Making Home Affordable Modifications
  • Many agencies provide more services and programs, including down payment assistance, emergency utility assistance, job/interview training, daycare, food banks, homeless shelters, or managing low income housing
goals of housing counselors
Goals of Housing Counselors
  • Provide unbiased assistance to help clients resolve their housing problems or needs
  • Provide education and one-on-one counseling
  • Design an action plan to address barriers to housing
  • Help clients to access community resources
  • Monitor client’s progress in meeting their housing goals
  • Assist client to work with lenders to resolve mortgage delinquencies
hud office of housing counseling
HUD Office of Housing Counseling

“The mission of the Office of Housing Counseling is to help families to obtain, sustain and retain their homes. We will accomplish this mission through a strong network of HUD-approved housing counseling agencies and counselors.”

  • Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act
  • 67 HUD staff from the HUD Single Family Program Support Division
  • National office with staff spread across the county from Alaska to Florida

Goals:

    • To help clients assess their financial situation and achieve their housing goals.
    • To increase public awareness of HUD’s housing counseling programs.
    • To increase the knowledge and capacity of HUD’s housing counseling network.
    • To improve the impact of housing counseling on consumers and neighborhoods nationwide.
impact of pre purchase counseling
Impact of Pre-purchase Counseling
  • A recently released study of the two-year loan performance of over 18,000 pre-purchase counseling clients from the NeighborWorks America network of counseling agencies finds that those counseling clients are one-third less likely to become 90+ days delinquent in the two years since obtaining their loan than those who did not receive pre-purchase counseling (Mayer and Temkin, 2013). This study was controlled for selection bias.
  • A Turnham and Jefferson (2012) HUD study analyzed the outcomes of 573 pre-purchase counseling clients 18 months after completing counseling and found that 35 percent of the participants became homeowners, with only 1 person falling 30 days or more behind in their mortgage payments.
  • Study by Peter Zorn, Vice President in Freddie Mac’s Models, Mission and Research Division suggest that the overall delinquency rates of borrowers receiving counseling are 15 percent lower than otherwise identical borrowers not receiving counseling.
neighborworks research on pre purchase counseling
NeighborWorks® Research on Pre-Purchase Counseling

Data provided in “Pre-Purchase Counseling Impacts on Mortgage Performance: Empirical Analysis of NeighborWorks® America’s Experience “

*All “with NeighborWorks Counseling data” is from NeighborWorks Affiliates, not agencies that received NeighborWorks training

hud office of housing counseling1
HUD Office of Housing Counseling

“The mission of the Office of Housing Counseling is to help families to obtain, sustain and retain their homes. We will accomplish this mission through a strong network of HUD-approved housing counseling agencies and counselors.”

  • Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act
  • 67 HUD staff from the HUD Single Family Program Support Division
  • National office with staff spread across the county from Alaska to Florida

Goals:

    • To help clients assess their financial situation and achieve their housing goals.
    • To increase public awareness of HUD’s housing counseling programs.
    • To increase the knowledge and capacity of HUD’s housing counseling network.
    • To improve the impact of housing counseling on consumers and neighborhoods nationwide.
slide11

Monitoring HUD Agencies

Housing Counseling Agencies seeking HUD approval submit their applications to the Office of Housing Counseling for review.

Applications are reviewed using a checklist on the following major areas:

  • Tax exempt nonprofit status
  • Audited Financials
  • Experience in counseling
  • Facilities
  • Compliance capacity
  • Agency Work Plan

Performance Reviews are performed every two to three years and re-evaluate the information provided in their initial application for approval, plus:

  • Client Files Reviewed
  • Updates to work plan or staff
  • Reported Client numbers
  • Survey Letters sent to clients
  • Grant administration review
ohc program initiatives
OHC Program Initiatives
  • Strengthen relations and communication between HUD and housing counseling network, in order to achieve broader community impact.
  • Encourage Housing Finance Agencies, regional and local coalitions to consider options of bonding as intermediary networks
  • Increase the visibility of housing counseling to help consumers and strengthen the industry.
  • Explore incorporating housing counseling into more public and private rental and mortgage programs, including FHA.
  • Solicit comments and best practices from industry partners.
why partner with housing counseling agencies
Why Partner With Housing Counseling Agencies?
  • Prepare your clients to make sound financial decisions from an unbiased professional counselor experienced in the local housing market
  • Receive notifications on new initiatives, scam alerts and other valuable information that comes from nonprofit impartial sources
  • Exchange referrals and resources with agencies serving clients typically served by the NFCDCU
partnership models
Partnership Models
  • Marketing and outreach
  • Cross-Referrals
  • Financial Education to reach housing goals
  • Employer-Assisted Housing programs
  • Participation in Mortgage Lending programs
  • Neighborhood Redevelopment
ways to partner with housing counseling agencies
Ways To Partner With Housing Counseling Agencies

Every area has unique needs and existing collaborations to serve the public. HUD Agencies have countless initiatives to meet local needs.

    • Use HUD’s website to find agencies within your area to make contact
    • Discuss formal and informal ways you can work with each other
  • Refer clients!
  • Join task forces, community development roundtables, and meetings, outreach events
  • Join agency mailing lists for news
  • Ask for agency counselors to present home buyer education as part of financial education courses
how to find a hud approved agencies
How to Find a HUD approved Agencies

Contact counseling agencies by HUD’s

interactive voice system by calling

(800) 569-4287

to search by zip code

Receives over 2,000 calls daily

Online referrals to approved housing

counseling agencies are available on

www.hud.gov

directly on the main page

how to find a hud approved agencies1
How to Find a HUD approved Agencies

The next screen takes you to a drop down of states to select your area from, or you can click on states directly on the map

how to find a hud approved agencies2
How to Find a HUD approved Agencies

The search results show agency’s address, contact numbers,email, languages, provided, and certified services

for more information
For More Information

Contact counseling agencies through hud.gov at www.hud.gov/findacounselor

Or call (800) 569-4287to search by zip code

Check out our new iPhone app in the app store (search housing counseling)

For grant information, training and events, counselor resources and to sign up for our listserv.www.hud.gov/housingcounseling

Questions or comments: housing.counseling@hud.gov