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Ohio Properties Redevelopment Institute Session 6: Transforming Problem Properties Into Opportunity
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PNC Borrower Outreach and REO StrategyPreservation and Redevelopment
Homeowner Preservation
• Homeownership Preservation (HOP)– Located in Miamisburg, OH
• Staff also located in Chicago and Cleveland/Akron areas– Travel to nationwide events hosted by Hope Now, non-
profits, elected officials, state and local municipalities
• Homeowner Assistance Centers (HOAC)– An extension of PNC Mortgage and Asset Resolution– Located in:
• Seal Beach, CA • Sacramento, CA • Chandler, AZ • West Palm Beach, FL
– Assist borrowers within 100-mile radius of centers
Mission Statement and Vision
Mission Statement:• To be accessible, dependable and knowledgeable
extensions of PNC Mortgage and Asset Resolution; striving to meet the needs of our customers and partners through exceptional service, dedicated employees, extended locations and flexible hours
Vision:• We seek to provide customers with personalized
financial guidance, assistance and viable workout solutions, with the goal of preserving homeownership and mitigating potential PNC losses
Supported Functions and Processes
• The HOP and HOAC teams were established to: – Help combat increased loan delinquency and foreclosures– Provide PNC with additional presence in and out of
footprint markets– Enhance PNC’s reputation and visibility throughout our
communities – Initiate borrower contact outside of traditional collections
and loss mitigation efforts– Present borrowers with alternative default resources and
locations – Provide an opportunity for mobile and personal financial
assistance – Educate borrowers and promote awareness of available
options and solutions for homeownership preservation– Avoid and minimize potential losses to PNC
Putting PNC-owned REO Back to Use
Pro-Active Community Strategy
REO “First Look” Program
• PNC Realty Services publishes monthly list of PNC-owned REO, including address and agent contact.
• Community Development Consultants email list to CDCs and municipalities participating in NSP.
• CDCs make an offer to buy with terms matching NSP eligibility.
PNC Community Consultants
PNC Contacts for REO List• Central Ohio, Theresa Saelim,
[email protected]• Northern Ohio, Saul Ramos,
[email protected]• Southern Ohio, Robie Suggs,
PNC Community Development Finance
• Dedicated team of Community Development Advisors lend to for- and non-profit developers and invest in CDFIs and loan funds for affordable housing, economic development and revitalization. We can also access public finance, NMTC/LIHTC/HTC and capital markets tools.
PNC Development Advisors
Contacts for development finance• Central Ohio, Jackie Winchester,
[email protected]• Northern Ohio, Dave Eddy,
[email protected]• Southern Ohio, Simón Sotelo,
