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PNC Borrower Outreach and REO Strategy

PNC Borrower Outreach and REO Strategy



Ohio Properties Redevelopment Institute Session 6: Transforming Problem Properties Into Opportunity

Ohio Properties Redevelopment Institute Session 6: Transforming Problem Properties Into Opportunity



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    PNC Borrower Outreach and REO Strategy PNC Borrower Outreach and REO Strategy Presentation Transcript

    • 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, Theresa.Saelim@pnc.com • Northern Ohio, Saul Ramos, Saul.Ramos@pnc.com • Southern Ohio, Robie Suggs, Robie.Suggs@pnc.com
    • 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, Jackie.Winchester@pnc.com • Northern Ohio, Dave Eddy, David.Eddy@pnc.com • Southern Ohio, Simón Sotelo, Simón.Sotelo@pnc.com