Vicki Tassan - E*Trade Bea Stotzer - New Economics for Women
Hala Farid - Citi Community Development Kevin Smith - United Way
Lot Diaz - UnidosUS
Invest with Hogar Hispano
HHI has made a difference in distressed communities by providing alternative housing solutions and foreclosure prevention strategies that work and can be replicated, nationwide. Since 2011, HHI has acquired over 2,000 properties (REO), created employment opportunities for over 150 people (full and part-time) and infused over $50,000,000 of private capital into various hard-hit communities.
HHI has also acquired over 1200 distressed mortgages valued over $200mm to help homeowners avoid foreclosure by providing owner-occupants with principal forgiveness via loan modifications, reinstatement, or through strategies such as short sales, cash-for-keys, or deed-in-lieu foreclosure. Our goal is to expand these services and acquire no less than 15,000 distressed mortgages in the coming years.
HHI’s proven model, proven team, and successful track record in multiple regions and diverse market conditions places this nonprofit in a unique position. We have large scale solutions to a large and growing affordable housing crisis. In addition, our foreclosure prevention strategies have yielded outcomes/results/neighborhood stabilization rates 2x industry averages.
Our winning track record has been recognized by the liquidity providers (HUD, Fannie, and Freddie) and they have tailored their auction process to the benefit of nonprofits in general. Working with private investors and in-house capital, we respond quickly to assets fitting our program guidelines and have delivered above market returns over the years.
It is HHI’s commitment to work with local and national for-profits and non- profits to co-develop assets when possible and utilize both national and local counselling organizations to ensure the buyer/tenant is fully prepared for any decision they make with an HHI-controlled asset. This provides HHI the security of knowing that the purchase, rental or modification is affordable over the long term.
Current NPL Opportunity with Second Opportunity of America (SOA)
• HUD HECM Portfolio
• 13 Assets total
• 45% of BPO (Broker Price Opinion).
• Bids due Feb 28th
Current REO Opportunity with Hogar Community Reinvestment (HCR)
• Currently acquiring 40 REO properties per month worth $4mm
• Capacity to double size to 80 properties/$8mm
• Bulk REO purchases are available
• Most active states: TX, AZ, FL, IL, NJ
Ongoing NPL Opportunity with Second Opportunity of America (SOA)
• Buying loans every quarter on a recurring basis from Fannie Mae and Freddie Mac
• Fund capacity over $100mm
• Ongoing seasoned loan sales from existing NPL modifications
Most Recent Portfolio Transactions
• Debt Opportunities
• Equity Opportunities
• Hybrid Opportunities.