APRIL 2008
Nehemiah WINS Lawsuit against HUD!
Judge Lawrence K. Karlton of the United States District Court for the Eastern District of California upheld Nehemiah’s motion for summary judgment and invalidated the U.S. Department of Housing and Urban Development (HUD) rule to ban private downpayment assistance as proposed in the “Standards for Mortgagor’s Investment in Mortgaged Property” regulation published October 1, 2007.
To be clear, this rule cannot be enforced by HUD and is no longer a threat to private downpayment assistance programs.
We are thrilled with the Court’s decision to support low-to-moderate income families across the country by ruling against HUD’s attempt to ban private downpayment assistance,” said Scott Syphax, President and CEO of Nehemiah Corporation of America. This is a major and conclusive judgment, leaving no uncertainty that downpayment assistance is a life line to the families that Nehemiah serves. It is heartening to see that the Court’s arguments echo our sentiments and concerns. This decision preserves access and supports the use of sensible and reasonable approaches to homeownership for millions of working class families. It is a privilege to continue providing a helping hand to America’s underserved families by building both safer communities and financial strength through homeownership. As we have said before, we look forward to working with HUD to support deserving families across the country.”
To read more about Nehemiah's court victory, visit: http://www.getdownpayment.com/updates/insidetrack.asp
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The busy home buying season is here! Nehemiah offers many unique value-added services and resources that can assist you in procuring buyers.
At Nehemiah we are dedicated to training mortgage and real estate professionals on The Nehemiah Program® and downpayment assistance which will enable you to assist more buyers in their quest for homeownership.
Contact me today to schedule a training session for your group or office on The Nehemiah Program.
All attendees will earn a Designated Nehemiah Specialist Certificate and a $100 off coupon on their first Nehemiah transaction.
Using The Nehemiah Program is Simple!
The Nehemiah Program® is committed to providing the easiest and best service possible. Did you know that your homebuyers only have to sign a one-page gift letter? Did you know that the seller only signs a one-page Participating Home Agreement?
Mortgage Lenders:
Register to use Nehemiah’s Online
Processing System
Nehemiah gift funds can be requested using the Nehemiah Online Processing System (OPS®) or with a standard paper form. Online gift funds requests are processed same day. If you’re new to Nehemiah, there is a simple one-time registration process to begin using our online system.
To register for
OPS, go to:
https://www.getdownpayment.com/ops/lendertype.asp and
follow the screen prompts to complete your
registration.
Should you have any questions or concerns while you are completing your registration, please call Customer Service at (877) 634-3642. Customer Service Specialists are available Monday through Friday from 9:00am to 8:00pm EST.
Since 1997, The Nehemiah Program® has provided over $1 billion in downpayment assistance gifts, resulting in $32 billion in real estate transactions and has helped over 250,000 families and individuals achieve their dream of homeownership.
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The Nehemiah Program® 424 North 7th Street, Suite 250 Sacramento, CA 95811 (877) 634-3642 © 2008 |
