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Volume 4, Issue 2, 2004   Federal Reserve Bank of Dallas

Home-Ownership Preservation Initiative Comes to Dallas

GMAC-Residential Funding Corp. has brought its home-ownership preservation program to Dallas. GMAC-RFC, a mortgage and home equity loan servicing and financing subsidiary of GMAC Financial Services, is seeking participation from the city of Dallas, mortgage lenders and servicers, community organizations and other key stakeholders to reduce the Dallas–Fort Worth area's mortgage foreclosures. According to GMAC-RFC, the foreclosure posting rate rose about 12 percent over last year to more than 31,000—the highest gain since the early 1990s. Read more »

Home-Ownership Center on Wheels

Freddie Mac, Chase Home Finance and The Community College Foundation have teamed up on an innovative program that's hitting the road to provide information on home ownership. Read more »

News & Events

  • Check 21, effective Oct. 28, is a federal law aimed at reducing the cost and improving the efficiency of check processing by enabling banks to process pictures of checks rather than the physical checks themselves. One impact of Check 21 is its virtual elimination of the float, the time between when a customer deposits a check and when funds are debited from the check issuer's account. Check writers who have counted on having several days before their accounts were debited won't get that extra time anymore. Read more Off-site page
  • The North Texas Housing Coalition hosts its 2005 Housing Summit in Dallas, Jan. 27. Read more Off-site page
  • The CDFI Coalition sponsors its annual CDFI Institute in Washington, D.C., Feb. 10–11. Read more Off-site page
  • The National Association of Affordable Housing Lenders conference will be in Washington, D.C., Feb. 10–11. Read more Off-site page
  • The Texas Association of Community Development Corporations holds its Community Development Conference in Austin, Feb. 28–March 2. For more information, contact the association at 512-457-8232.

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