patricia algaze, chair miami-dade office broward office...

NHSSF STAFF

Patricia Algaze, ChairCiti

Mario Coryell, TreasurerNewOrg Management System

Emilio D. Fernandez, Vice ChairCitiMortgage

Donna AdamsTours by Donna, Inc.

Marie Brea HyppoliteFirst Business Consulting, Inc

Eric JohnsonMiami-Dade Economic Advocacy Trust

Stanley Remy JosephSRJ Construction Corporation

Beverly Kovach, SecretaryMercantil Commercebank

Maria Lee-ForbesChase Bank

Luldina QuinonesBimbo Bakeries, USA

Leo TocaWells Fargo

Jim WellsWellspring Consulting International, Inc.

BOARD OF DIRECTORS

NHSSF MIAMI-DADE300 NW 12th AvenueMiami, Florida 33128

Tel 305-751-5511

Toll free 1-800-401-7601 • www.nhssf.org

MIAMI-DADE OFFICEArthur AlleyneOlga ArciniegasDaniel ArjonaMia BatlleNicolle CanoOlga CuadraJacqueline DuranMichele FinsethTerry FinsethKamalah FletcherMartha GarciaNestor GongoraLazara GonzalezLudlow GordonDana GruenertMikal HaminMordy LafortuneYanick LandessJose LoyaMarcia MackEli MatosAntoinette PattersonMykerlange PoulardBenji PowerKatherine RiveraLeeAnn RobinsonArden ShankMaria SierraRosa Urrea

BROWARD OFFICEReg FroeseJones AndreArmando LooHurduise SimonKathy Taborda

HOMEOWNERSHIPREALTYSuzanne CloughMargo MorganMiriam Reyes-CiavolaSuzanne Weiss

FANNIE MAEMORTGAGE HELPCENTERAdriana AlfonzoLoreta BenitoBernard FrancoisLaura ReyesKenia RoizJamie SmithJudith TavarezJennifer UrreaAngelica Vasquez

NHSSF BROWARD2800 W. Oakland Park Blvd

Suite 301Ft. Lauderdale, Florida 33311

Tel 954-564-4037

MORTGAGE HELP CENTER2671 NW 28th StreetMiami, Florida 33142

Tel 305-704-0444

HOMEOWNERSHIP REALTY100 NE 84th Street

Miami, Florida 33138Tel 786-517-9521

Neighborhood Housing Services of South Florida expanded in significant ways in FY2010. In January 2010, HUD announced its awardees for the second round of theNeighborhood Stabilization Program, which provides federal funding to acquire, rehab,and rent or sell foreclosed properties. NHSSF is the lead member in the Miami-DadeNSP Consortium which received an award of $89,375,000, the sixth largest NSP2 awardin the country. Consortium members Carrfour Supportive Housing, Little Haiti HousingAssociation, Opa-Locka CDC, St. John CDC, Urban League of Greater Miami, andthe city of North Miami are all working diligently on their portion of the Consortium’sproduction. Within three years we will complete at least 1255 housing units in the certaincensus tracks in north Miami-Dade and get them back into residential use.

In February 2010, NHSSF in partnership with Fannie Mae opened the first in thecountry Fannie Mae Mortgage Help Center. This co-sponsored center provides a seriesof foreclosure avoidance services to keep Fannie Mae borrowers in their homes. At yearsend, the center’s seven NHSSF staff were working with hundreds of South Floridahomeowners and their lenders to prevent the negative impact of foreclosure.

The NHSSF offices in Miami-Dade and Broward continued to provide foreclosureavoidance assistance and homebuyer training and counseling. NHSSF worked withrecord numbers of homeowners and potential homeowners throughout the year.

While NHSSF has expanded with new resources, the housing and finance markets haveprovided major challenges with the continuing decline in real estate values the increasein borrower delinquencies. The impact of the market has not only effected our realestate and lender partners, but NHSSF as well.

Patricia AlgazeBoard Chair

Arden ShankPresident/CEO

NEIGHBORHOOD HOUSING SERVICES OF SOUTH FLORIDA

Founded in 1978, Neighborhood Housing Services ofSouth Florida builds empowered communities,

revitalizes neighborhoods and createsaffordable housing opportunities in South Florida.

TURNING

HOUSING

DREAMS

REALITY

FROM OUR BOARD CHAIR & PRESIDENT

For over 30 years Neighborhood Housing Services of South Florida (NHSSF), anonprofit “one-stop-shop,” has worked to revitalize neighborhoods and strengthencommunities across South Florida. NHSSF provides programs and services that promoteand support homeownership and community revitalization throughout Miami-Dadeand Broward Counties.

NHSSF is a life-changing organization that transcends the definition of a nonprofit orcommunity-based program; it helps people – who wouldn’t have otherwise been able– to purchase a home or get a mortgage; providing families with a foundation and senseof security in their lives.

OUR SERVICES

ANNUAL REPORT 2010

* Includes NeighborWorks® America

NHSSF Originated Loans New HomeownersHomes Saved from Foreclosure Est. Value of Purchased HomesEst. Value of Saved Homes

52334518

$53,440,000$93,240,000

Loans & Homes FY 2010 Total

ASSETSAssetsInvestments in DevelopmentFixed Assets (Net of Depreciation)TOTAL ASSETS

LIABILITIESLiabilitiesFund BalancesTOTAL LIABILITIES & FUNDS

$3,397,688$3,172,711$1,589,358$8,159,758

$6,879,626$1,280,132$8,159,758

Balance Sheet Consolidated FY 2010

1. Grants*2. Contributions3. Interest4. Program FeesTOTAL INCOME

Income: Fiscal Year ‘10 % of Income FY 2010

$1,391,423$408,597

$89,436$440,035

$2,329,491

59.73%17.54%

3.84%18.89%

100.00%

FINANCIAL OVERVIEW

NHSSF offers the following services in Miami-Dade and Broward counties in English, Spanish, and Creole:

Foreclosure Prevention• Analyze situations, educate about the foreclosure process• Assist in compiling necessary documentation• Help develop a budget and spending plan that work• Help manage debt• Help with refinancing and modification opportunities• Develop customized action plans

Homebuyer Preparation• 8 Hour Homebuyer Education Class• Credit counseling• Post-purchase counseling

Housing Development• Acquisition and rehab of single-family houses for resale• Projects such as Rio Palma and Dupuis Pointe

Mortgage Lending• Pre-purchase qualifying• Loan pre-approval• Subsidies and grants through municipalities• Loan servicing

Real Estate Sales• General real estate sales and listing• Residential foreclosures and lender owned REO’s• Short Sales• Residential Rentals

Community Building and Organizing• Community-based leadership classes• Partnerships for neighborhood improvement• Annual Paint and Landscape Day in Brownsville

02003 2004 2005 2006 2007 2008 2009

EDUCATION & COUNSELINGForeclosure counselingHBE graduates counseling

Homes saved from foreclosureFirst time homebuyers

HOMEOWNERSHIP

2003 2004 2005 2006 2007 2008 2009 2010

Neighborhood Housing Services of South Florida expanded in significant ways in FY2010. In January 2010, HUD announced its awardees for the second round of theNeighborhood Stabilization Program, which provides federal funding to acquire, rehab,and rent or sell foreclosed properties. NHSSF is the lead member in the Miami-DadeNSP Consortium which received an award of $89,375,000, the sixth largest NSP2 awardin the country. Consortium members Carrfour Supportive Housing, Little Haiti HousingAssociation, Opa-Locka CDC, St. John CDC, Urban League of Greater Miami, andthe city of North Miami are all working diligently on their portion of the Consortium’sproduction. Within three years we will complete at least 1255 housing units in the certaincensus tracks in north Miami-Dade and get them back into residential use.