Press Release

HOMEOWNERSHIP PRESERVATION FOUNDATION NAMES HERNANDEZ AS PRESIDENT AND EXECUTIVE DIRECTOR. Affordable Housing Advocate Colleen Hernandez to lead nonprofit dedicated to preventing foreclosures with national 888-995-HOPE hotline.

MINNEAPOLIS, MN - May 31, 2006 - The Homeownership Preservation Foundation has named affordable housing advocate Colleen Hernandez as its new President and Executive Director, effective July 5, 2006.

Hernandez comes to the Foundation with wide-ranging experience in affordable housing, community development and grass roots community organizing.  For 18 years, she served as Executive Director of the Kansas City Neighborhood Alliance (KCNA).  Under her leadership, KCNA trained 15,000 families in homeownership skills, led development efforts in troubled neighborhoods, increased homeownership, developed affordable housing, and trained volunteers to be effective problem solvers.

“Colleen’s impressive background—as a tireless promoter of homeownership and an award-winning community leader—will put her in a unique position to further the mission of the Homeownership Preservation Foundation,” said Michael Seats, Chair of the Homeownership Preservation Foundation’s board of directors and Executive Vice President, Residential Capital Corporation.  “She’s seen first-hand how keeping families in their homes can strengthen a community, and we are pleased that she’ll be bringing her experience and passion to the Foundation.”

"I am excited to join the Homeownership Preservation Foundation," adds Hernandez.  "The Foundation has played a pivotal role in drawing attention to homeownership issues through its national public service campaign, and in providing a real solution by offering counseling and advice to thousands of homeowners through its 888-995-HOPE hotline."

Prior to joining the Foundation, Hernandez was the principal of Hernandez Consulting LLC, a firm specializing in affordable housing and community development.  She is a former member of the Consumer Advisory Council to the Federal Reserve Board of Governors and to the Federal Reserve Bank board for the Tenth District.  She currently serves on the board of directors of the Fannie Mae Foundation as well as on the board of directors for Douglass National Bank, a Kansas City-area community development financial institution.  She also is the 1995 recipient of the Charles Kimball Award from the Greater Kansas City Community Foundation.

Hernandez succeeds Walt Fricke, who has resigned as president of the Foundation to start up a new nonprofit, the Veterans Airlift Command, dedicated to providing air transportation to wounded  servicmen and women,  as well as  their families through a national network of volunteer pilots and aircraft. Fricke will continue to provide guidance to the Foundation by serving as a member of the Homeownership Preservation Foundation’s board of directors.

“Walt has been instrumental in launching the Foundation and establishing it as a leading, national voice addressing the issues surrounding homeownership,” said Seats. “We thank him for his service in helping us fulfill the mission of the Foundation."
 
About the Homeownership Preservation Foundation
The Homeownership Preservation Foundation (HPF) is a Minneapolis-based 501(c)(3) nonprofit dedicated to reducing foreclosures and preserving homeownership for American homeowners.  The Foundation was formed in September 2004 with a $20 million seed contribution from Residential Capital Corporation, one of the nation’s largest real estate finance companies.  The Foundation partners with city, county and state governments; federal government agencies; community-based non-profit organizations; and mortgage companies to offer creative solutions to preserve homeownership.   For more information about the Homeownership Preservation Foundation, please visit www.hpfonline.org.

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