NeighborWorks Montana

Street Address:
509 1st Ave. S
Great Falls, MT 59401


Phone: 866-587-2244
Fax: 
Website: www.nwmt.org

Sheila Rice, Executive Director

Contact Name: Sheila Rice
Phone: 866-587-2244
Fax:
Email: srice@nwgf.org


Staff Size:     Part Time: 10

Background
MHN was formed in 1998 to broaden the reach of Neighborhood Housing Services of Great Falls into a wider geographic area. In 2001, MHN was independently incorporated as a 501 (c) 3 organization and continued to be supported by the staff at NHSGF. In September 2006, MHN was officially chartered as a NeighborWorks organization in its own right. It already has a strong record of productivity. In conjunction with NHSGF, MHN has created 3,080 homebuyers in 201 cities and towns of Montana. Twenty-three partners are now delivering services on the ground to MHN customers; while an additional fifteen partners provide funding and loan capital support. MHN has been successful in gathering financial support from multiple supporters: loan capital from a mortgage-backed security, the Montana Board of Housing and NeighborWorks America; operating funds from NeighborWorks America (through NHSGF), the Montana Board of Housing, HUD (through the Montana Board of Housing), Fannie Mae, Freddie Mac, the National Rural Funder’s Collaborative, Rural Development, the Heron Foundation among others.

Mission
The Montana HomeOwnership Network, Inc., a partnership of Montana nonprofit and private corporations, government officials, and residents, will significantly increase home ownership among lower-income families acrss Montana by: - Providing affordable first mortgages - Offering down payment and closing cost loans - Educating potential homebuyers - Assisting with credit repair - Preventing foreclosure.

Total Operating Expense (9/30/2007): $896,980

 Lines of Business
  • Asset and Property Management

  • Community Building and Organizing

  • Home Ownership Promotion Services

  • Lending and Loan Portfolio Management

  • Real Estate Development


    • National NeighborWorks ® Programs
  • NeighborWorks Campaign for Home Ownership
  • NeighborWorks Multifamily Initiative
  • NeighborWorks Rural Initiative

    • Accomplishments in FY 2008
  • Provided 1805 families with pre- and post- purchase housing counseling.
  • Rehabilitated or repaired 11 rental or owner occupied units (1-4 units).
  • Assisted 143 families in purchasing a home through homeownership counseling, downpayment, closing cost or financing assistance.
  • Owned or managed 0 rental units.
  • Invested $580,721 in the community through Montana HomeOwnership Network's revolving loan fund, which leveraged $17,071,375 from conventional lenders and other sources.
  • Total direct investment in the community is $17,652,096.

    • Additional Accomplishments
    Date Additional Accomplishment
    1/1/2009 Working together over ten years, NeighborWorks Montana Partners have: *Assisted 3,683 Montana Families into homeownership. *Graduated 14,474 families from Homebuyer Education. *Made 2,826 down payment and closing cost loans. *Loaned a total of $36,086,000 *Leaveraged $240,882,000 in first mortgages
    1/1/2009 Working together over ten years, NeighborWorks Montana Homebuyer Programs have: *Created $212,364,000 in equity for home-owning families *Generated $153,149,000 in income for lenders *Paid $1,904,000 in local government filing fees *Created revenues of $19,045,000 in real estate commissions
    1/1/2009 Working together over ten years, NeighborWorks Montana Sustainable Homeownership Programs have: *Assisted 378 families keep their homes by avoiding foreclosure *Made 121 foreclosure prevention loans totaling $900,432 *Saved $5,153,000 in homeowner's equity *Assisted with 2,466 homeowners with planning for home renovation, foreclosure avoidance and home equity preservation.

    Community Services
  • Community Building

  •  Leadership Training

  • Financial Planning and Assistance

  •  Down-payment Assistance

  •  Elderly Tax Information

  •  Financial Education

  •  Foreclosure Prevention Counseling

  •  Foreclosure Prevention Training

  •  IDA Savings Program

  • Housing Programs and Home Ownership Counseling

  •  Home Ownership Center

  •  Home Ownership Counseling

  •  Housing for Handicapped


    • Board of Directors
    NameBoard Role/TitleSectorCompany/OrganizationJob Title
    Bruce BrensdalBoard MemberMontana Homeownership Network, Inc 
    Deborah ChorltonBoard MemberMontana Homeownership Network, Inc. 
    Steve FeurtBoard MemberMontana Homeownership Network, Inc. 
    Suzie HayBoard MemberMontana Homeownership Network, Inc. 
    Alan HolomBoard PresidentName: Montana Homeownership Network, Inc. 
    Jim MortonBoard TreasurerMontana Homeownership Network, Inc. 
    Jack ProtheroBoard MemberMontana Homeownership Network, Inc. 
    Steve RedingerBoard MemberMontana Homeownership Network, Inc. 
    Byron RobertsBoard MemberMontana Homeownership Network, Inc. 
    Caren RobertyBoard MemberMontana Homeownership Network, Inc. 
    Marilyn RoseBoard MemberMontana Homeownership Network, Inc. 
    Frank ShawBoard MemberMontana Homeownership Network, Inc. 

    About the NeighborWorks ® Network
    The NeighborWorks® network is a nationwide network of more than 240 community development organizations working in nearly 4358 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks® organizations have generated more than $8.5 billion in reinvestment and helped more than 500,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

    NeighborWorks ® America Contact Information
    District:  Rocky Mountain
    Name:  Josie Martinez-Littig
    Phone:  303-782-4805
    Toll-Free:  
    Fax:  303-782-5568
    Email:  jlittig@nw.org