NACA Blog

*****PRESS RELEASE*****
 FOR IMMEDIATE RELEASE
May 20, 2020

CONTACT:

Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com 
Abriel St. Ange – Media Specialist; Cell: 857-529-3220; abriel.st.ange@naca.com 

NACA CREATES NEW MORTAGE LENDING STANDARDS AND OPPORTUNITIES

(BOSTON– May 20, 2020) – Mortgage industry history was made over the past weekend as thousands of homebuyers were counseled in the first of a series of massive virtual homebuying events.  NACA, America’s largest HUD certified counseling agency, conducted the entirely online event in which buyers were given access to NACA’s extraordinary mortgage: no down-payment, no closing costs, no fees at a below market fixed rate (3.125% 30-year and 2.375% 15-year as of 5/19/20). 

More than 7,500 people were counseled during NACA’s first-ever virtual Achieve the Dream Event over four days, May 14-17.  NACA made use of its state-of-the-art technology to allow thousands of primarily low- and moderate-income homebuyers to access NACA’s Best in America mortgage program to buy a home with the best terms in the country. Many were NACA Qualified (i.e. pre-approved) the same day, all without leaving the comfort and safety of their homes.

By making use of webinars, videoconferencing and electronic document submission, homebuyers were able to complete NACA’s process to be qualified for NACA’s unequaled mortgage product. The virtual Achieve the Dream event used the same four basic steps as their live Achieve the Dream events conducted across the country the past two years. During the virtual event, homebuyers:

• Attended an online version of NACA’s Homebuyer Workshop to learn how the NACA program works and to learn how to become NACA members.
• Uploaded required documents to their NACA file.
• Met with a NACA counselor by videoconference to review readiness for homeownership and an affordable payment.
• Met with a NACA underwriter by video conference or phone to be NACA Qualified (i.e. pre-approved) or their next steps.

NACA, with $15 billion of this outstanding mortgage, uses character-based underwriting instead of credit scores to qualify buyers. As a result of the phenomenal success of the first event, additional events are scheduled through May with more coming in June to meet the greater-than-expected demand.

Comments from just a few of the many people qualified at the virtual Achieve the Dream Event:

Shanetta Little, New Jersey: https://vimeo.com/419429758

Michelle Gutierrez, California:  https://vimeo.com/419332120

Akele Gause, North Carolina : https://vimeo.com/418986325

Nyeisha Morris, North Carolina: https://vimeo.com/419150194

NACA Founder and CEO Bruce Marks said, “Just as with our live events, our counselors and underwriters were staying until one o’clock in the morning to make sure every single person was helped. Nothing like this has ever been done before in the history of mortgage lending, especially at this scale. Even during the pandemic, NACA is continuing to create new homeownership opportunities on a massive scale while still protecting the health and safety of the participants and staff.”

Registration for the second and third virtual Achieve the Dream Events May 21-24 and May 28-June 1 is already full, and the series will be continued well into June.

Bruce Marks continued, “The online Achieve the Dream Events are going to change the mortgage industry as we know it and make affordable homeownership available to more people than ever before. Even more homebuyers will now have the opportunity to take advantage of the unbeatable terms of the NACA program and do so on a scale never seen before. 

Media links:

Fox 4 Dallas: https://youtu.be/0yYV3AODw7A?list=PLOKHTNNOOuimIC1fm8sxnjg4OzHIIeY5B
CBS 3 Philadelphia: https://youtu.be/-Bfbjdui0_A
Maria Lara Testimony: https://youtu.be/L2uUrtDVBhU?list=PLOKHTNNOOuimIC1fm8sxnjg4OzHIIeY5B
CNBC at Miami Event: https://www.facebook.com/watch/?ref=external&v=564349637328357

Information and registration for Homebuyer’s Workshops and the Achieve the Dream Events are on www.naca.com.

NACA (NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA (www.naca.com)

Started in 1988, NACA is the largest HUD-Certified nonprofit, community advocacy, and homeownership organization in the United States. NACA has been the forefront in fighting predatory lending and has been the most effective organization in providing affordable solutions to over 250,000 homeowners.  NACA provides the best mortgage in the country through its 48 offices nationwide. NACA’s founder and CEO Bruce Marks was named Bostonian of the Year for 2007 because of his work in getting the major lenders and servicers to modify home loans. He has also testified before Congress on numerous occasions including September 12, 2000—being one of the few to sound the alarm of the pending mortgage crisis. For more information, please visit www.naca.com.

*****PRESS RELEASE*****
 FOR IMMEDIATE RELEASE
May 16, 2020

CONTACT:

Tim Trumble – Media Coordinator; Cell: 617-947-2632; ttrumble@naca.com 
Abriel St. Ange – Media Specialist; Cell: 857-529-3220; abriel.st.ange@naca.com 

DESPITE PANDEMIC, THOUSANDS ATTEND HOMEOWNERSHIP EVENT TO ACCESS NACA’S BEST IN AMERICA MORTGAGE

COUNTER TO “CONVENTIONAL WISDOM”, WORKING PEOPLE IN HUGE NUMBERS ARE ENGAGING IN THE HOMEBUYING PROCESS

(BOSTON– May 16, 2020) – Starting Thursday May 14^th NACA, America’s largest HUD certified counseling agency, is conducting a series of massive four-day virtual homebuying events. NACA is changing the face of mortgage lending nationwide by counseling thousands of homebuyers each day and providing access to an extraordinary mortgage: no down-payment, no closing costs, no fees at a below market fixed rate (3.0% 30-year and 2.375% 15-year as of 5/14/20).  While lenders are tightening their underwriting, NACA, with $15 billion of this outstanding mortgage, uses character-based underwriting to qualify buyers instead of credit scores. 

These virtual Achieve the Dream Events will take advantage of NACA’s state of the art technology to allow thousands of primarily low and moderate income homebuyers to access NACA’s Best in America mortgage program to buy a home with the best terms in the country. Many will get NACA Qualified (i.e. equivalent of pre-approval) the same-day, all without leaving the comfort and safety of their homes.

NACA’s technology allows homebuyers to submit all necessary documents electronically and meet with a NACA counselor via teleconference creating a virtual environment.  NACA provides comprehensive counseling and access to the NACA mortgage to thousands of homebuyers over the four-day event.  Additional events are scheduled through May with more coming in June to meet the tremendous demand.

NACA Founder and CEO Bruce Marks said, “The virtual Achieve the Dream Events allow us to maintain the unprecedented success we created with our live Achieve the Dream events and transfer it into an entirely online environment. This not only allows NACA to continue to create new homeownership opportunities on a massive scale, but to also make every event a nationwide event instead of a local or regional one, all the while protecting the health and safety of the participants and staff. It’s all hands-on deck for our team. Nothing like this has ever been done before in the history of mortgage lending, especially at this scale.”

NACA’s will have more than 250 counselors from coast to coast participating in the events, which means homeownership counseling will be happening on a scale not seen since NACA’s historic “Save the Dream” events during the mortgage crisis. Advance registration for the first week’s event is already at capacity of over 7,500 homebuyers, and the following weeks are filling rapidly.

The virtual Achieve the Dream events will have the same four basic steps:

• Attend an online version of NACA’s Homebuyer Workshop to learn how the NACA program works and to learn how to become NACA members.
• Upload required documents to their NACA file.
• Meet with a NACA counselor to review readiness for homeownership and an affordable payment.
• Meet with a NACA underwriter to be NACA Qualified (i.e. pre-approved) or their next steps.

Bruce Marks continued, “These events will not only give homebuyers the continued opportunity to take advantage of the unbeatable terms of the NACA program but do so on a scale never seen before in American history.  The online Achieve the Dream Events are going to change the mortgage industry as we know it and make affordable homeownership available to more people than ever before.”

Media links:

Fox 4 Dallas: https://youtu.be/0yYV3AODw7A?list=PLOKHTNNOOuimIC1fm8sxnjg4OzHIIeY5B
CBS 3 Philadelphia: https://youtu.be/-Bfbjdui0_A
Maria Lara Testimony: https://youtu.be/L2uUrtDVBhU?list=PLOKHTNNOOuimIC1fm8sxnjg4OzHIIeY5B
CNBC at Miami Event: https://www.facebook.com/watch/?ref=external&v=564349637328357

Information and registration for Homebuyer’s Workshops and the Achieve the Dream Events are on www.naca.com.

NACA (NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA (www.naca.com)

Started in 1988, NACA is the largest HUD-Certified nonprofit, community advocacy, and homeownership organization in the United States. NACA has been the forefront in fighting predatory lending and has been the most effective organization in providing affordable solutions to over 250,000 homeowners.  NACA provides the best mortgage in the country through its 48 offices nationwide. NACA’s founder and CEO Bruce Marks was named Bostonian of the Year for 2007 because of his work in getting the major lenders and servicers to modify home loans. He has also testified before Congress on numerous occasions including September 12, 2000—being one of the few to sound the alarm of the pending mortgage crisis. For more information, please visit www.naca.com.

Here is a quick update on how the COVID-19 crisis is affecting NACA operations and how you can continue to move forward toward your American Dream of homeownership during this time.

While nearly all NACA offices are open and running at this point in time, they remain closed to the public during the pandemic to protect the health and safety of our members and staff. 

All counseling appointments are being conducted as scheduled, but continue to be done online as a videoconference through the GoToMeting app.  Members will be advised by email a few days before the appointment on how to access the appointment online.

Many of our staff members are working from home.  This does make communications with them somewhat more difficult as they are not at their office desk and therefore cannot answer their office phone.  Therefore, please communicate with your counselor by email whenever possible, unless specifically instructed by your counselor otherwise.

Likewise, please do not email your counselor more than once per day with a specific topic or question.  Doing so only serves to further clog up an already full mailbox and will likely result in only delaying the response you are seeking.

We have developed new techniques for helping you get through the process as completely and efficiently as possible during the remainder of the pandemic.  One example is the ability for our members to now sign their bank application electronically, saving one more trip and helping to maintain social distancing.

While closings still require an in-person meeting, our offices and partnering title firms and closing attorneys have devised some effective and sometimes very creative ways to conduct the closing while maintaining the safety of all concerned.

While some cities, counties and states are starting to announce plans to begin phased reopenings of their economies, there are no dates set as of yet for any NACA offices to reopen to the public. Likewise, there are no dates yet for the return of our Achieve the Dream events, though it is clear it will be August at the very earliest , if that soon, before it will potentially be safe for our staff to get back on the road.

In lieu of the live ATD events we are developing the idea of a series of virtual ATD event in the weeks ahead. We hope to combine the best elements of the live events with the advances we have made in virtual workshops and video-conferenced counseling sessions to conduct large-scale pre-approval events.  We will provide more information as we develop the concept and begin to make plans.

With many NACA staff members presently working from home, many local office phones are automatically rolling over to NACA Member Services. This is creating a very large backlog on the Member Services lines, resulting in abnormally long wait times.  Please remember as noted above to contact your counselor via email wherever possible. This will reduce the number of unnecessary calls rolling over to Member Services, thus reducing their backlog and enabling them to better assist all of our members.

Like so many of you, we are more than ready for our lives to return to something close to normal but understand that we must continue to practice social distancing and other safety procedures to ensure that we beat the COVID-19 virus for everyone’s sake.  In the meantime, we must all find an extra measure of patience and tolerance, understanding that this crisis affects us all, whether or not we come into direct contact with the virus.  Be assured that NACA is continuing to work every day, continuing to fight for economic justice and helping you reach your American Dream of affordable homeownership.

Here’s updated information on how the COVID-19 pandemic has affected NACA operations and what actions we are taking to continue helping you become a homeowner with NACA’s Best in America Mortgage.

First and most importantly, MOST of our offices across the country are still open. While some of our offices have had to close as a result of shelter-in place orders or similar directives, the majority of our offices, including the NACA National Counseling Center in Charlotte, NC are open and conducting counseling sessions as scheduled.

Presently, all NACA offices are open with the exception of the following:

Connecticut: Hartford

Pennsylvania: Philadelphia

Massachusetts: Lawrence

However, please be aware that it is NOT ENTIRELY business as usual. To comply with social distancing, there have been a few changes.

All counseling sessions are currently being conducted remotely by video conferencing.  This allows you to speak directly with your NACA counselor and conduct a full counseling session while eliminating the need to make an unnecessary trip away from the safety of your home or workplace. This also reduces traffic through our offices and greatly reduces risk of exposure for everyone concerned. Please contact NACA Member Services at 425-602-6222 if you have any questions about how the video conferencing is done.

Likewise, submitting documents to your NACA file is presently being done entirely online. Documents can be scanned and submitted securely though your NACA web-file on any internet connected computer with a scanner, and even from some smartphones. Documents may also be submitted by email or fax from members. Again, please contact NACA Member Services for details.

NACA members who do not have access to a computer scanner may still come in to the local NACA office and scan their documents into their file using the member kiosk located in each office. However, calling to provide advance notice to the office and a specific time or arrival is required to be allowed entry into the office. After each use, kiosks will be thoroughly cleaned and sanitized in preparation for future use.

We are even working on the means for our members to sign their bank application electronically to once again implement social distancing and reduce the risk of contamination.

Likewise, NACA’s workshops have also changed from local in-person workshops to virtual ones.  NACA staff members are now conducting webinars in place of local workshops for both the initial Qualification Workshop and the Purchase Workshop that our members attend after becoming NACA Qualified.

Qualification Workshops for people beginning the NACA program are conducted in English three times each Saturday, at 9:00 am, 1:00 pm and 5:00 pm Eastern time, and in Spanish at 1:00 pm Eastern time every Saturday. NACA Purchase Workshops are conducted every Thursday at 6:00 pm and 9:00 pm Eastern time.

Because of the huge demand, we are also conducting Qualification Workshops on Facebook Live twice per month on Saturday mornings at 9:00 am Eastern Time on the NACA Facebook page at http://www.facebook.com/nacaofficialpage .

To register for the workshops, please go to the NACA website at www.naca.com and click on the red “Schedule” button in the upper right corner of the page.

NACA’s weekly informational webinars are also being held as normally scheduled. Webinars ranging from our NACA Program Overview to Property Qualification to our Mobilize Georgia community advocacy campaign are all available by again clicking on the “Schedule” button on the home page of the NACA website.

NACA’s Member Services team, HAND department and Real Estate Department are all open during their normal business hours as well to help you reach your American Dream of homeownership.

As you can see, we are creating new and groundbreaking ways to keep everyone safe during this difficult time. NACA is still working every day to provide you with our Best in America Mortgage, with no down payment, no closing costs, a below market fixed rate, and no need for perfect credit. The NACA staff is continuing the fight for economic justice and affordable homeownership as we all work together as a nation to defeat the COVID-19 threat.

For more information on how the NACA team is continuing to make affordable homeownership a reality, go to www.naca.com, visit any of our social media pages, or contact NACA Member Services.

Here’s an update on how the corona virus outbreak has affected NACA operations and what actions we are taking to continue helping you become a homeowner with NACA’s Best in America Mortgage.

First and most importantly, MOST of our offices across the country are still open. While some of our offices have had to close as a result of shelter-in place orders or similar directives, the majority of our offices, including the NACA National Counseling Center in Charlotte, NC are open and conducting counseling sessions as scheduled.

However, please be aware that it is NOT ENTIRELY business as usual. To comply with social distancing, there have been a few changes.

All counseling sessions are currently being conducted remotely by video conferencing.  This allows you to speak directly with your NACA counselor and conduct a full counseling session while eliminating the need to make an unnecessary trip away from your home or workplace. This also reduces traffic through our offices and greatly reduces risk of exposure for everyone concerned.

Likewise, submitting documents to your NACA file is presently being done entirely online. Documents can be scanned and submitted securely though your NACA web-file on any internet connected computer with a scanner, and even from some smartphones.

NACA members who do not have access to a computer scanner may still come in to the local NACA office and scan their documents into their file using the member kiosk located in each office. After each use, kiosks will be thoroughly cleaned and sanitized in preparation for future use.

We are even working on the means for our members to sign their bank application electronically to once again implement social distancing and reduce the risk of contamination.

Likewise, NACA’s workshops have also changed from local in-person workshops to virtual ones.  NACA staff members are now conducting webinars in place of local workshops for both the initial Qualification Workshop and the Purchase Workshop that our members attend after becoming NACA Qualified.

Qualification Workshops for people beginning the NACA program are conducted in English three times each Saturday, at 9:00 am, 1:00 pm and 5:00 pm Eastern time, and in Spanish at 1:00 pm Eastern time every Saturday. NACA Purchase Workshops are conducted every Thursday at 6:00 pm and 9:00 pm Eastern time.

To register for the workshops, please go to the NACA website at N-A-C-A DOT COM and click on the red “Schedule” button in the upper right corner of the page.

NACA’s weekly informational webinars are also being held as normally scheduled. Webinars ranging from our NACA Program Overview to Property Qualification to our Mobilize Georgia community advocacy campaign are all available by again clicking on the “Schedule” button.

NACA’s Member Services team, HAND department and Real Estate Department are all open during their normal business hours as well to help you reach your American Dream of homeownership.

As you can see, we are creating new and groundbreaking ways to keep everyone safe during this difficult time. NACA is still working every day to provide you with our Best in America Mortgage, with no down payment, no closing costs, a below market fixed rate, and no need for perfect credit. The NACA staff is continuing the fight for economic justice and affordable homeownership as we all work together as a nation to defeat the Covid-19 threat.

For more information on how the NACA team is continuing to make affordable homeownership a reality, go to NACA-DOT-COM, visit any of our social media pages, or contact NACA Member Services at 425-602-6222.

NACA Founder and CEO Bruce Marks conducted a nationwide conference call with all NACA staff members at 12:00 noon Eastern Time today to update everyone on NACA’s operational plans during the duration of the Coronavirus crisis.  Among the key points:

All NACA offices nationwide will remain open for the duration of the Coronavirus emergency. However, there will be significant changes in how we work with our members. All counseling sessions will be conducted by videoconference using the Go To Meeting app until further notice. The app is available for PC, Mac and mobile devices. This will allow our members to avoid unnecessary travel and will also reduce traffic in and out of our offices.  Local office kiosks will still be available for members to scan and upload their documents if they do not have scanning capabilities at work or at home.

All local Homebuyer Workshops/Qualification Workshops are cancelled until further notice. They are being replaced with online webinars that will be conducted through the Go To Meeting app.  English webinars will be conducted three times each Saturday, at 9:00 am, 1:00 pm and 5:00 pm Eastern Time. Spanish webinars will be conducted each Saturday at 1:00 pm Eastern Time.  Advance registration is a requirement without exception as access information must be sent out to each participant prior to the webinar.

Local Purchase Workshops are also cancelled until further notice and are being replaced with online webinars that will be conducted through the Go To Meeting app.  Purchase workshops will be conducted online each Thursday at 6:00 pm and 9:00 pm Eastern Time.  The same pre-registration requirements for Qualification Workshops apply to Purchase Workshops as well.

In each case, additional webinars will be added if the demand calls for it. Members may also sign up for counseling sessions online through their webfile.

NACA is also in the process of creating a secure means for our members to sign their bank applications electronically without compromising security.  We will announce this when it becomes available.

Both our Atlanta, GA and Raleigh, NC Achieve the Dream events have been postponed until further notice.  We hope to reschedule both for mid to late May. Our Charlotte event scheduled for April 2 though 5 has not been postponed yet, but it is a strong likelihood that it also will be postponed.  Please continue to monitor www.naca.com for the latest information.

Bank of America is still processing applications and closings will continue to happen during the days ahead.

Members needing their approval letters will be able to access them online in their webfiles AFTER they have attended the Purchase Workshop.

In summary, NACA is committed to remaining open and continuing to create homeowners during this troublesome period. We are not only open for business, but working on new and better ways to streamline the NACA process that also protect the health and well-being of our members and staff as we ride out the Corona virus outbreak.                                                                                                    

As of 10:45 am Eastern Time, March 13th, both the Raleigh and Atlanta Achieve the Dream events are postponed.

We received word from North Carolina sate officials late last night that we would not be able to conduct our Raleigh event March 26-29, and NACA CEO Bruce Marks made the decision to postpone the Atlanta event this morning because of the ongoing situation there.

These postponements are of course in response to the Covid-19 outbreak. All but two of the Coronavirus cases in North Carolina as of this writing are in the immediate Raleigh area. For now, our Charlotte event April 2-5 is still scheduled to take place as planned.

Please continue to monitor this page, NACA’s social media platforms and www.naca.com for the latest information regarding Achieve the Dream events, workshop or office closings that may occur or other schedule changes. NACA’s first concern at this time is the health and safety of our members and staff, and we will reschedule the Raleigh and Atlanta events and any others necessary for a future date.

Dear NACA Members,

NACA has created the national standard in achieving affordable homeownership. We are excited about 2020. It is time to renew your NACA Membership which continues to be only $25 per household for the year (click here to pay or access your Web-file). NACA staff will not be able to work on your file or provide services next year without payment of your 2020 Membership Dues.

There is tremendous demand for NACA’s comprehensive counseling and best in America Mortgage (i.e. no down-payment, no closing costs, at a below market fixed rate). To meet the demand, we are doing many four to five day Achieve the Dream events nationwide during 2020 where homebuyers can be pre-approved for the NACA Mortgage the same day (click here for events in 2020). We have also made major improvements in underwriting and closing mortgages to streamline the mortgage process. Bank of America, which has committed $10 Billion to the NACA Mortgage, has hired more staff to meet the increased demand as well.

Please continue to spread the word about NACA, includingour job opportunities. We find that the most effective staff come from our huge membership. Wecontinue to hire nationwide for NACA Counselors and Organizers. We are also hiring management staff based in Boston: Communications, Social Media, Researchers, and other positions.

NACA is an extraordinary place to work where you can do well by doing good. You can submit your applications through www.naca.com and for any job-related questions email us at jobs@naca.com.

Enjoy the Holidays,

Bruce Marks, NACA CEO & Founder