Cascade Briefs

IN THIS ISSUE

Dear Colleague:

Welcome to the October 2009 issue of Cascade Briefs, a periodic electronic newsletter containing timely news and information on community development and financial education.

Cascade Briefs complements Cascade, our community development publication that is published three times a year. It is available at: www.philadelphiafed.org/community-development/publications/cascade/.

Resources

Publications

Events

People in the News

Issue Index


Please send any comments and suggestions about this newsletter to keith.rolland@phil.frb.org.

RESOURCES

Foreclosure Prevention

Prosecution of Foreclosure Rescue Scams, Mortgage Fraud, and Forged Deeds;
New FHA Loan Modification Programs; and Update on Making Home Affordable
The proceedings and speakers’ presentations from a September 30 meeting on these subjects at the Philadelphia Fed are available on the Bank’s website.

Delaware has a new Foreclosure Mediation Program. For an administrative directive and other details on the program, go to http://deforeclosurehelp.org/mediation.html. A press release on the program may be found on the Delaware State Housing Authority’s website.
 
New Jersey has resources and information on housing counseling agencies.

The Pennsylvania Housing Finance Agency (PHFA) has a Foreclosure Mitigation Counseling Initiative to help interested homeowners save their homes. Forty-five counseling agencies are participating in the PHFA Comprehensive Housing Counseling network. For information, go to PHFA’s website.

Foreclosure Prevention Workshops

Freddie Mac provides a national list of workshops on foreclosure prevention and other housing topics on its website. A recent list includes upcoming workshops in Philadelphia, Camp Hill, and Coatesville, Pa; and in Dover and New Castle, Del. Be sure to check details with local sponsors.

More Focus Needed on Rental Housing

HUD needs to rethink its emphasis on homeownership and refocus on rental housing, says John Kromer, senior consultant at the University of Pennsylvania’s Fels Institute of Government. His report, Reconstituting the Rental Housing Market in Pennsylvania, was recently released by the Fels Institute and the Housing Alliance of Pennsylvania.

New Pennsylvania Law Oversees Home Improvement Contractors

The Home Improvement Consumer Protection Act of 2009 requires contractors to register with the state of Pennsylvania. While not a seal of approval, the registration shows that the contractor has insurance coverage (at least $50,000 worth of personal injury liability coverage and $50,000 of property damage coverage), has complied with the law by registering, and indicates whether the contractor has a criminal record or any civil judgments (including bankruptcy) against him or her.Consumers can find information on the Pennsylvania Attorney General’s website. Consumers who have additional questions or complaints about a contractor can call 1-888-520-6680.

Regional Housing Legal Services (RHLS), which has offices in the Philadelphia area, and in Harrisburg, Pittsburgh, and Gettysburg, Pa., operates a center to assist applicants to apply for the Homeowners Emergency Mortgage Assistance Program (HEMAP). For information, contact info@rhls.org or go to RHLS’s website.

Demystifying the Federal Reserve

Charles I. Plosser, president and CEO of the Federal Reserve Bank of Philadelphia, delivered a speech entitled “Demystifying the Federal Reserve” at Lafayette College in Easton, Pa. on September 29, 2009.

Women and Money Project

The Pennsylvania Department of Treasury has started a Women and Money Project that supports projects and partnerships that contribute to women's success at stages when women become economically vulnerable. In one of its strategies, the department is beginning to organize Financial Advancement Network (FAN) Clubs for women in partnership with the Greater Philadelphia Urban Affairs Coalition. For information on the project, contact Elizabeth Randol, Ph.D. at (570) 963-2101 or erandol@patreasury.org.

GPUAC Fan Club Affiliates

The Greater Philadelphia Urban Affairs Coalition (GPUAC) is beginning to work with other organizations that want to form FAN Club chapter affiliates. (See “Women and Money Project” above.)  The organizations choose the constituency they want to focus on for financial education. The GPUAC has been organizing FAN clubs, consisting of five to 20 people who participate in financial education workshops and peer group support, since 2004. For information, contact Shante Antrom-Gowans at (215) 851-1740 or sgowans@gpuac.org.

Women’s Financial Education

The Consumer Credit Counseling Service of Delaware Valley has started a program, called FinanciallyHers, that provides women with educational workshops, one-on-one financial counseling, and mentoring. The program is designed to meet women’s financial needs and equip them with the tools to better understand and manage their own finances. Events are scheduled in Philadelphia and Delaware County from October to December 2009. For information, contact Kim Cooper at (215) 563-5665, ext. 3332, or kcooper@cccsdv.org.

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PUBLICATIONS

Diane Sterner Shares Observations on Community Development Issues

The Housing and Community Development Network of New Jersey marks the 20th anniversary of its incorporation this year. Diane Sterner, the network’s founding executive director, shares her thoughts on issues in the community development field in this interview.

How to Counsel People Through the Emotional Stress of Foreclosure

A presentation by psychologist R. Dandridge Collins, Ph.D., on how housing counselors can assist families to deal with the stress of foreclosure, and how counselors can cope with the stress of foreclosure counseling, is available at our website. The presentation was given at an event organized by the Greater Philadelphia Urban Affairs Coalition’s Foreclosure Prevention Task Force held September 18 at the Philadelphia Fed.

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EVENTS

New Jersey Redevelopment Authority Training Institute Courses

Real Estate Development (8 CM credits), October 19-22, 2009, 9 a.m. - 4 p.m., HUD, Newark, N.J. This four-day course gives students an opportunity to get an in-depth overview of the terms and concepts used in real estate development as well as the players and process involved.
 
Project Finance, February 1-4, 2010, 9 a.m. - 4 p.m., Central New Jersey. This four-day course introduces the key components of project finance. For information, contact Tammori C. Petty at (609) 292-1069 or tpetty@njra.state.nj.us; www.njra.us.

Balanced Housing, Balanced Communities

Tuesday, November 10, 2009, 8:30 a.m. to 4:00 p.m., The Sheraton, Dover, Del.
This conference, organized by the Delaware Housing Coalition, will explore ways in which affordable housing is being regarded and built, as well as housing goals such as better geographic distribution, increased inclusion, and more opportunity. For information, contact Ken Smith at (302) 678-2286 or dhc@housingforall.org; http://www.housingforall.org/.

2009 Homes within Reach Conference

December 9-11, 2009, Hilton Harrisburg, Harrisburg, Pa.
Highlights of the Housing Alliance of Pennsylvania’s annual conference include fund-raising in today's economy, a federal housing policy roundtable, energy conservation, and opportunities in the emerging green economy.

Save the Date — Reinventing Older Communities: Rethink, Recover, Rebuild

May 12-14, 2010, Hyatt Regency Philadelphia at Penn’s Landing
The fourth national biennial conference organized by the Federal Reserve Bank of Philadelphia and sponsors examines issues confronting older communities, including the impact of the credit crisis on homeowners and communities and the opportunities generated by economic stimulus funds.  For information, contact keith.rolland@phil.frb.org.

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PEOPLE IN THE NEWS

Beverly Coleman, previously executive director of NeighborhoodsNow, has joined Urban
Ventures Group as a director. Urban Ventures Group works with foundations and nonprofits to plan and implement collaborative efforts that improve the quality of urban communities. She can be reached at (267) 514-4600 or beverly@urbanventuresgroup.com.

Thomas P. Corcoran has been appointed president of the Delaware River Waterfront Corporation (DRWC). Corcoran was previously at the Cooper’s Ferry Development Association, Inc., in Camden, N.J., where he served as founding president and CEO for 25 years.

Mary Dupont is director of the Division of State Service Centers in the Delaware Department of Health and Social Services. The division includes 15 community-based service centers, weatherization and low-income home energy assistance programs, and the state Office of Volunteerism. She is at (302) 255-9695 or mary.dupont@state.de.us.

Janet Milkman has become executive director of the Delaware Valley Green Building Council (DVGBC).  DVGBC’s mission is to help transform the Delaware Valley through sustainable and environmentally responsible planning, design, construction, and operation of the region's buildings, landscapes, cities, and communities. The DVGBC is a chapter of the U.S. Green Building Council for eastern Pennsylvania and Delaware. She can be reached at (215) 399-5790 or jmilkman@dvgbc.org.

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Federal Reserve Bank of Philadelphia
Community Affairs Department
Ten Independence Mall
Philadelphia, PA 19106-1574