Mayors Back Private DPA Programs

Representatives at the U.S. Conference of Mayors in Los Angeles have passed a resolution in support of privately funded downpayment assistance programs pioneered by the Nehemiah Corporation of America.The USCM extended its support to call on Congress to disapprove a controversial effort by the Department of Housing and Urban Development to ban PDA programs. The organization noted that DPA-assisted loans originated through the Federal Housing Administration have helped hundreds of thousands of low- to moderate-income families become homeowners. In the past decade, over a half-million families have purchased a home using DPA.