Funding Partners to Present to Federal Banking Audience�
Fort Collins, CO, July 1, 2008 - Funding Partners, a not-for-profit Community
Development Financial Institution (CDFI), has been asked to present a model program
for addressing the foreclosure crisis at an upcoming symposium co-sponsored by
the Federal Reserve Bank of San Francisco, the Federal Deposit Insurance Corporation
and Office of the Comptroller of the Currency.�
�Stabilizing Communities � Addressing the Negative Impacts of Foreclosure� will be held at the Hollywood Renaissance Hotel in
Los Angeles on July 15 and 16th.� The symposium will convene national experts to answer questions and share best
practices for stabilizing communities and for mitigating the negative impacts
of foreclosures on borrowers.� The workshops and plenary sessions are designed for local practitioners working
to develop solutions to the foreclosure crisis.� Attendees will include lenders, loan servicing agents, community development
organizations, housing counselors, housing developers, public officials and policy-makers.
Funding Partners Executive Director,
Joe Rowan, will present the FP Foreclosure Reset program, describing the financial structure
and functional issues associated with this model program developed by the organization.� The Foreclosure Reset program relies on numerous partnerships to: identify households
subject to financial distress and mortgage default; engage households with counseling
agents; intervene with lenders to modify loan terms; negotiate property or mortgage
note sales; provide interim financing and stabilize highly impacted neighborhoods.� The Foreclosure Reset program is intended to provide a method for allowing affected
families to remain in their home as renters while they prepare to re-acquire the
home at some point in the future.
For more information on the symposium, visit:� http://www.frbsf.org/community/resources/2008/0715/index.html
For more information on Funding Partners, visit www.fundingpartners.org