NEIGHBORHOOD HOUSING SERVICES SILICON VALLEY
PO Box 682, SAN JOSE, CA 951060682 www.nhssv.org

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Organizations Filed Purposes: Neighborhood Housing Services Silicon Valley (NHSSV) worked to improve the living environment of low- and moderate-income families. NHSSV provided programs and services that promote and support responsible home ownership as a means of revitalizing neighborhoods and engendering community pride and economic stability among residents.

NHSSV worked to improve the living environment of low- and moderate-income families.

Home Ownership CenterThe Home Ownership Center program provided 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 assisted prospective homebuyers in obtaining mortgage financing. To date, the organization's Homeownership Center had educated and counseled over five thousand prospective homebuyers.In addition to its first-time homebuyer programs, the Organization provided 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. Since establishing these services, the organization had 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 assisted 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 - served 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 obtained high level intensive training from NeighborWorks America to take on their most challenging neighborhood projects. - Responsible Landlord Engagement Initiative (RLEI) - The Organization partnered 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 leveraged these partnerships and grass roots efforts to build additional credibility and support for its other lines of business. These programs ceased in fiscal year 15-16.

Lending ProgramMortgage Lending - Secondary Financing: The Organization provided 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 provided performing second mortgages with deferred interest and payments to low- and moderate-income individuals. The CalHome program provided deferred second mortgages to low-income individuals. The HVF - Performing Secondary financing was capitalized by the City of San Jose and Housing Trust of Santa Clara County.Mortgage Lending - Retail Loan Origination: The Organization originated, underwrote, and funded AND BROKERed first mortgages for qualifying individuals and sold the first mortgages to Fannie Mae. The financing of these loans came from the Organization's line of credit from Focus Bank, Dignity Health loan and the religious community investment fund. Mortgage Lending - Wholesale Loan Orgination: The Mortgage Lending - Wholesale Loan Origination fee-based program operated under a real estate broker's license issued by the State of California Department of Real Estate. The program charged 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 refinanced existing mortgages using conventional mortgage products. These programs ceased in fiscal year 15-16. All loan portfolios were transferred.

Real Estate Sales and DevelopmentThe Real Estate Sales fee-based program operated under a real estate broker's license issued by the State of California Department of Real Estate. The program charged a commission, based on the purchase price, to support homebuyers with the purchase of their home. Real estate sales agents researched available properties, helped prospective homebuyers submit offers, negotiated terms and ensured a smooth escrow closing. Neighborhood Housing Services Silicon Valley's agents also specialized in short sale negotiation giving families an alternative to foreclosure. The Organization also served 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 had also managed and sold the BMR units developed by the nonprofit housing agency South County Housing, based in Gilroy. The Organization had further responded to the need for more unrestricted affordable properties by launching a comprehensive Acquisition, Rehabilitation, Resale (ARR) Program. These programs ceased in fiscal year 15-16.

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