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November 2015

HLP Teams Up with NFL Star Tim Brown to Help African-American and Hispanic Homebuyers Starting in December, HLP is teaming up with NFL Hall of Fame member Tim Brown, Freddie Mac and the Hispanic Action Network to help low and moderate-income Afri-

Take 5 NFL Hall of Famer, Tim Brown talks about his efforts to help more African-Americans and Hispanics become homeowners.

can-American and Hispanic families buy their own homes. HLP and the other three organizations have created a financial education project called the American Dream Homeownership Initiative (ADHI). The group’s first event will be on December 5 in Oakland, California, where Brown starred as a wide receiver with the Oakland Raiders. Brown will take the lead role in promoting the events as part of his nonprofit foundation, the Tim Brown Foundation.

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On December 5, families in Oakland and the East Bay area can attend a free, one-day financial education program to get started on the path to buying a home. Similar events

Introducing HLP.Guru! New app helps prospective homebuyers qualify for homeownership and supports affordable lending for mortgage companies. Page 3

are planned in 2016 in Miami, Los Angeles, Las Vegas, Chicago, Detroit, Dallas-Fort Worth and San Antonio. People can register for the Oakland event at www.adhi81.org. “Homeownership rates have reached a 48-year low and many individuals and families that want to buy a home have been left behind,” said Cam Melchiorre, HLP’s president and chief executive officer. “With Tim Brown’s leadership, the Hispanic Action Network’s connections and with Freddie Mac’s support, we will give people the financial education, tools and confidence needed to move homeownership from a dream to a reality.” The one-day program will include information and tips from mortgage professionals and

American Dream Homeownership Events

nonprofit counselors on a wide range of financial and homeownership topics. At the conclusion of the event, each person will receive an individualized assessment of their readiness to become a homeowner and concrete action steps to take to move them forward.

Locations for 2016 and outline educational workshop sessions

For those who are ready to get started, the event will also offer connections with real

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In addition to the day’s events, each attendee will receive a free credit score and be en-

estate professionals, mortgage lenders and other services related to purchasing a home.

rolled in the new HLP Homebuyer Club (HLP.guru) at no cost. The club will provide each …continued on page 4


Tim Brown won the Heisman Trophy at Notre Dame and was inducted into the NFL’s Hall of Fame earlier this year. In 1999, he founded the Tim Brown Foundation, which works with America’s youth through a variety of programs. The foundation has recently initiated an effort to educate and assist individuals and families to become homeowners through a partnership with Freddie Mac.

Why have you decided to team up with Freddie Mac and HLP to promote homeownership? Freddie Mac approached us to explore how together we could increase homeownership in the Hispanic and African-American communities. The Hispanic Action Network, which is affiliated with our organization, has ties with approximately 20,000 churches, will help us reach prospective homebuyers. Freddie Mac, HLP and all of the organizations involved in this effort really want to make a difference, so when they asked me to get involved, it just felt right.

How is this initiative different? The new HLP HomeBuyer Club is unique program that will help many people take the steps needed to become a homeowner. We want to educate people to make certain that they understand how a mortgage works and where they can find funds for a down payment. Everyone who attends one of our events will be enrolled for free in HLP HomeBuyer Club. We also want to make sure that they understand that owning a home is a long-term financial commitment.

What are the biggest obstacles facing lowand moderate-income families that want to buy a home? Without a doubt, it’s good credit and how it impacts people that want to purchase a home. During our financial education events, we’re going to focus on the importance of good credit and how people can improve it. We’re also

going to give them information about down payment assistance programs offered in many states. For those who may not qualify for a home right away, we’ll put them in touch with credit counselors who can teach them the budget skills, and the discipline, needed to get approved for a home loan.

What are the benefits of growing up in a home owned by your family? A child is more likely to feel safer if they grow up in a house owned by their family. As a young child, I lived in a duplex near another duplex, so four families lived in a cramped space. The walls were thin, there was little privacy and it didn’t feel secure. When I was seven or eight, we moved to a single-family home with a yard, so I felt safe and protected. Children that grow up in their own homes are also much more likely to strive for homeownership.

How will you be involved in the first event on December 5 in Oakland? I’ll help promote it through radio ads leading up to the event, as well as media interviews. Our homeownership event is on a Saturday, so I’ll be there at the event opening, speak with people at the event during the day, and be there for the close. The timing is perfect because I’ll be receiving my NFL Hall of Fame ring at the Oakland Coliseum on Sunday when the Raiders play Kansas City. The Saturday event will be a wonderful way for me to give back to the people of Oakland before the ceremony on Sunday.


HLP Launches New App on December 5th to Help People Achieve Homeownership

With the goal of helping more people buy the right home, HLP has built the nation’s first application to help people qualify for homeownership. The new tool can be accessed at hlp.guru beginning on December 5. “HLP.guru is an easy-to-use app that puts borrowers in control of the home buying process,” said Mark Cole, HLP’s chief strategy officer. “It computes individualized home buying plans using advanced analytics and a proprietary workflow to guide the home buying experience.” HLP.guru also promotes transparency and collaboration among all the parties. By operating at a national scale with standardized processes and industry-leading security, HLP systems integrate all stakeholders into a unified platform that delivers better outcomes and regulatory compliance.

Putting the Buyer in Control Many people don’t know how to buy a home or believe they have little control over the process. HLP.guru changes all that with an app designed to support today’s consumers who want to be in control and use technology. It gives each person the tools needed to manage their credit, improve their borrowing capacity, connect with a certified nonprofit housing counselor and build their home buying team. Anyone can join for $99 for a 4 month subscription. It also puts buying power into the hands of consumers by connecting them with a marketplace where they can shop for services and have a variety of mortgage companies, realtors, title companies and other housing professionals compete for their business.

Working with Lenders and Other Stakeholders Many lenders see potential in HLP.guru assisting applicants who don’t yet meet mortgage underwriting standards. Several will recommend HLP.guru to any person turned down for a mortgage loan, offering a positive path toward achieving homeownership. “While our primary goal is to help consumers, we believe HLP.guru provides benefits to just about any company or organization involved in the mortgage origination process,” said Cole. Access to Gurus This new platform will also bring new activity to nonprofit counselors. Gurus are nonprofit housing counselors and educators that help each person navigate their own action plan towards buying a home. By utilizing HLP’s system, counselors and HLP.guru members can work seamlessly together. Future Releases The technology platform for HLP.guru was built by CE Analytics, a privately held firm headquartered in Dallas, Texas, with more than a decade of experience in this space. The platform will continue to grow and evolve in 2016, with integrations to automated underwriting tools, down payment assistance programs and consumer rating tools of marketplace service providers planned for future releases.

For more information about how your organization can connect with HLP.guru, please contact us at support@hlp.org.


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person with the tools needed to manage their credit, improve their borrowing capacity, connect with a certified nonprofit housing counselor and build their home buying team. The system creates an individual action plan that helps them understand the steps needed to be ready for homeownership. Plans are

American Dream Homeownership Initiative Event Dates/Locations 2015

automatically updated each month and include detailed steps in areas such as

December 5 Oakland, California

improving your credit score, paying down debt and saving money for a down

2016

payment.

Dates and venues to be announced, look for

“The new HLP Homebuyer Club is the first app that can help anyone learn how to take the right steps to qualify for homeownership,” said Melchiorre. “We believe it will help many people better understand the home buying process and encourage them to take the concrete steps needed to own a home.” (see

an event near you in these cities: Miami, Los Angeles, Las Vegas, Chicago, Detroit, Dallas-Fort Worth and San Antonio

related story on page 3 about the new HLP Homebuyer Club—HLP.guru).

Oakland Financial Education Event Sessions Session 1/Steps to Homeownership • Rent or Buy? • Understand What You Can Afford • Find the Right House Session 2/All About Credit • What’s your credit score? • What’s in your credit report? • Why does it matter?

Session 3/Money Management • How much money is left at the end of the month? • What are you worth? • Are you prepared for a financial emergency?

Session 4/The Home Buying Process • Understanding All the Steps • Finding Your Team • Get Help from Experts Session 5/Your Personal Assessment • Where are you on the path to homeownership?

Coming Next Month In our December issue, we’ll provide readers with an update on the kick-off of the American Dream Homeownership Initiative and thoughts from lenders supporting the program. We will also share more on the launch of HLP.guru and other initiatives to help families seeking affordable, sustainable homeownership.

mark.cole@hlp.org

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410.942.6464 x1021

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100 International Drive

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23rd Floor

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Baltimore, Maryland 21202

HLP News—November 2015  

News and updates from HLP. This month we take a look at HLP's role in the American Dream Homeownership Initiative.

HLP News—November 2015  

News and updates from HLP. This month we take a look at HLP's role in the American Dream Homeownership Initiative.