NCST serves as an advocate for neighborhood stabilization and blight remediation, and as such, we release articles and also share in press stories with our buyers and sellers to help call attention to their efforts, and to bring more understanding to the continued need for revitalizing our nation’s most vulnerable communities.
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NCST Partners with Freddie Mac and Fannie Mae in the NSI – Expanded to 10 New MSAs
NCST is pleased to announce that the Neighborhood Stabilization Initiative (NSI) partnership with Fannie Mae and Freddie Mac has been expanded to 10 additional markets. NSI will now operate in a total of 28 markets with large concentrations of distressed and low-value REO inventory. The 10 new…
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Hurricane Harvey and Housing
Nature’s fury is a concept we all understand, but it’s only when those forces are unleashed for all to see that we know the true extent of the destruction possible. We have watched, shocked, as those caught in the path of Hurricane Harvey fought to survive and…
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Here’s what it looks like when the foreclosure ‘pig’ moves through the housing-crisis ‘python’
While much of the U.S. housing market has been repaired since the end of the Great Recession, “in many neighborhoods,” according to advocates, “the foreclosure crisis isn’t over yet. As the effects of the housing crisis further recede, markers of distress are declining, with one notable exception:…
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NCST Community Buyers Experience Neighborhood Stabilization Evolution from 2008 – 2017
NCST is coming up on the NINTH anniversary of our formation and the launch of the First Look program, originally piloted in the fall of 2008 as a tool to stabilize neighborhoods at highest risk from foreclosures. All these years later we find ourselves on the other…
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Freddie Mac Follows Fannie Mae to Rental Market, With Affordability as Goal
When the government-controlled mortgage finance giant Fannie Mae agreed this year to guarantee a $1 billion financing deal for one of the biggest private-equity-backed landlords in the United States, the move prompted an outcry. Housing advocates and legislators questioned why the landlord, Invitation Homes, which is controlled…
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Mortgage Experts Weigh in on Vacant and Abandoned Properties
Recently, a report from the National Mortgage Servicing Association (NMSA) addressed the issue of vacant and abandoned properties in regard to instituting policies that standardize procedures, definitions, and best practices. The report, which was developed with input from several NMSA member organizations such as Wells Fargo, Bank…
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Updated NCST Program Guide Released to Support Stronger Collaboration with Partners
In the early years of NCST, our Community Buyers all participated in the Neighborhood Stabilization Program, which was governed by HUD rules related to property disposition and related matters. However, once NCST opened the program to any organization that could demonstrate funding, experience, and mission-driven outcomes, NCST…
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Corporate landlords may be getting a boost from the government
Las Vegas resident Kristy Maser has become so frustrated with her house-hunt, she said she sometimes cries herself to sleep at night. “I’ve just lost hope,” the 40 year-old banquet server said of the process. “It’s disheartening.” By Kimberly Adams | June 14, 2017 | http://bit.l/2vZsKAV She’s…
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Profiting off pain: Trump confidant cashed in on housing crisis
One of President Donald Trump’s closest friends and confidants took advantage of the Great Recession to build an unprecedented real estate business that makes him tantamount to a modern-day slumlord – buying up homes, bumping up rents and allowing the properties to fall into disrepair. Southern California…
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Here’s a Chance to Weigh In on Federal Support for Affordable Housing
In the U.S. government’s great wealth-building machine, Fannie Mae and Freddie Mac are the most important cog. The 30-year, fixed-rate single-family home mortgage that has made homeownership possible for so many (but not all) would not be so dominant today without these two so-called government-sponsored enterprises. A…
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