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FDIC and Neighborworks to Co-Host a Series of One-Day Seminars on Foreclosure Prevention

FOR IMMEDIATE RELEASE
May 28, 2008
Media Contact:
Andrew Gray (202) 898-7192

Washington, DC -- The Federal Deposit Insurance Corporation (FDIC) and NeighborWorks America today kicked off a series of one-day foreclosure prevention seminars in five high-foreclosure cities. The seminars will be geared toward private- and public-sector organizations that work with consumers who are at risk of foreclosure.

The seminars will provide an overview of the foreclosure process and industry access that will be helpful in providing guidance to their clients and constituents. Participants will include support counselors, bankers, real estate professionals, and others involved in foreclosure outreach efforts to distressed homeowners.

"There were just over 1.5 million foreclosures in 2007, and that number could rise further this year unless meaningful steps are taken to address the foreclosure problem," said Thomas J. Curry, member of the FDIC Board of Directors and Chairman of NeighborWorks America. "We are committed to bringing parties together who are on the front lines of working with at risk consumers in an effort to keep as many people as possible from losing their homes."

Each one-day symposium will be broken down into morning and afternoon sessions. The morning sessions will focus on mitigation counseling and resources, and understanding homeowner issues and concerns. The afternoon session will focus on opportunities and strategies for working with financial institutions and loan servicers.

The first symposium will be held at the Hampton Inn in Las Vegas on May 29. In the coming months, other symposia are planned for Tampa, Detroit, Columbus, and Los Angeles.

For information on how to register and to view the complete agenda, visit the FDIC's Web site at: http://www.FDIC.gov/foreclosures. There is no fee to register or to participate, but space is limited.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,494 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-38-2008




Last Updated 5/29/2008 communications@fdic.gov