Home 2007thru2010 USA Cares Announces New Program for Military Housing Lenders

USA Cares Announces New Program for Military Housing Lenders

Radio Facts: Program to provide training/certification to lending community for military borrowers

USA Cares today announced the creation of a new program designed to support the nation’s servicemen and women and veteran’s who may be experiencing hardship in making their mortgage payments. The program will support borrowers by helping lenders to better understand the unique financial and life challenges of military homeowners as well as educating lenders about the financial benefits military families have access to. USA Cares will also work with the housing counseling community to facilitate their awareness of the needs of military service members.

Bill Nelson, Executive Director of USA Cares said, “Our nation is at war and suffering tough economic times. Our new program will help enlisted and veteran borrowers avoid foreclosure and improve the experience of prospective homeowners who seek affordable homes.”

The effort will include a training course for individual lenders and a qualification stand ard for their parent lending institutions. Lenders will enroll in the Participating Lender Course (PLC) which will be offered nationwide in both classroom and web-based versions beginning this month. Successful completion of the course will be recognized with a certificate and that mark of excellence will become a sought after signal to military families, the promise that they will get the expert care they have earned though their service.

Beverly Ray Frase of USA Cares will direct the new program. She comes to USA Cares with a strong background as Mortgage Broker, Real Estate Broker and career Army wife. “I’ve been on all sides of this,” says Beverly. “I’ve been the military family buying a home, the Realtor helping find a home in a short window of time, and the lender helping to complete the purchase. I know firsthand what hurdles come along for military families trying to achieve homeownership and I understand the struggle some families face as they try to stay in their homes.”

USA Cares is no stranger to supporting the homeownership goals of military families. “We’ve paid out over one million dollars to save military family homes from foreclosure in the past three years,” said Jennifer Robinson, USA Cares Director of Assistance. “This new effort will help reduce the need for such assistance by supporting military borrowers and their lenders as they work together to make affordable and sustainable housing decisions.”

The program will be administered through USA Cares, a nationally recognized 501(c)3 that provides financial assistance to post 9/11 service members, veterans and their families. The program is funded by a grant from Fannie Mae.

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