Members of the National Training and Information Center of Chicago along with Metanoia Centers signing a partnership agreement with Ocwen Financial Services in the fight against predatory lending. Seated next to Board President Rev. Barnes is Marilyn Evans (Secretary) and immediately rear left is Joseph Mariano and standing next to Ron Faris (President of Ocwen Loan Servicing, LLC).

PROGRAM HIGHLIGHTS
Participants
11 Community Organizations
2 Corporate Partners: Citifinancial & Select Portfolio Servicing, Inc.

LOANS REPAIRED & HOMES SAVED
509 loans review
410 loans repaired
376 loans adjusted
34 loans modified
320 foreclosures proceedings suspended

FINANCIAL RETURNS
$23 Million in housing assest protected in low to moderate income communities from foreclosure

$577,000 returned to low-moderate income housseholds through loan adjustments

$1.6 million in savings back to low-moderate income households through loan modifications

PROGRAM DESCRIPTION
The National Training and Information Center (NTIC) is focused on protecting neighborhoods by helping families save their homes from foreclosure and preventing predatory lending. To do this, NTIC and community organizations have engaged the financial industry in partnerships that provide relief for borrowers victimized by predatory loans.

NTIC has used its community organizing model to secure three Anti-Predatory Lending Agreements with the following institutions: Citifinancial in May of 2003, Select Portfolio Servicing, Inc. in March of 2004, and Ocwen Financial in February of 2005. With these agreements, 11 NTIC-affiliate organizations throughout the country have gained direct access to the decision makers of these institutions through a community corporate partnership program called, the "REVIEW AND REPAIR PROGRAM."

Through the Review and Repair Program, NTIC-affiliate organizations work with troubled borrowers to submit a "Hotspot Card" to the lender/servicer. The Hot Spot Card instantly suspends the foreclosure process and provides an opportunity for the lender/servicer to review the loan. During the review process, the borrower may receive a loan modfication or a financial adjustment to the loan. A loan modification is when the terms of the orginal loan are re-negotiated. A loan adjustment is when a refund is paid back to the borrower from the lender. As the administrator of the program, NTIC is able to monitor and measure the outcomes of these partnerships through data submitted by the lender/servicer on a routine basis.

Since its inception, the Review and Repair Program has protected $23 billion dollars worth of housing stock and has returned $2.2 million dollars in financial savings to low-moderate income communities in 11 U.S. cities.