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 Neighborhood Stabilization Initiative (NSI) Policy Programs 2024 TechSprint: Generative AI in Housing Finance Affordable Housing & Community Investment Climate Change and ESG FHLBank System at 100: Focusing on the Future FHLBank System at 100: Report Implementation Duty to Serve Program Enterprise Housing Goals Fair Lending Oversight Program Financial Technology Fraud Prevention Velocity: A Tech Sprint from the Federal Housing Finance Agency Housing Finance Examiner Commission Program Loss Mitigation National Mortgage Database Program Neighborhood Stabilization Initiative (NSI)
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 Neighborhood Stabilization Initiative (NSI)  Background  The Neighborhood Stabilization Initiative (NSI) was designed to stabilize neighborhoods hardest hit by the housing downturn. It was jointly developed by the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac and includes strategies for disposing of the inventory of real estate owned (REO) properties held by Fannie Mae and Freddie Mac. Some particular markets have large concentrations of distressed and low-value REO properties as well as large volumes of loans that had been delinquent for more than one to two years that are likely to become REO. Given the unique challenges presented by these markets—high vacancy rates, weak for-sale markets, steep home-price declines—Fannie Mae and Freddie Mac selected the 
   National Community Stabilization Trust (NCST), a national non-profit organization experienced in stabilization efforts for distressed communities to implement the NSI. Working together, they leverage their ties to "boots on the ground" community organizations and local non-profits, and work closely with local governments to make timely and informed decisions about the best treatment of individual properties. NSI was initiated as a pilot in the city of Detroit, Michigan in May 2014, and was then expanded to Cook County, Illinois in April 2015. Building on the lessons learned from the pilot, NSI was developed into a program and was expanded in December 2015 to 18 different metropolitan statistical areas with high volumes of low-value REO inventory. In December 2017, 10 additional markets were designated for further expansion. Currently, Fannie Mae operates their neighborhood stabilization efforts through their Community First Platform and has expanded the program to new markets across the country. Freddie Mac continues to administer their neighborhood stabilization efforts through NCST. NSI Markets  ​ 
            NSI Expansion Interactive Map - updated monthly - *(currently as of 12/31/2019)*
               NSI Fact Sheet (12/12/2017) Akron, OH
         Albany-Schenectady-Troy, NY
         Atlanta-Sandy Springs-Roswell, GABaltimore-Columbia-Towson, MD
         Birmingham-Hoover, AL
         Chicago-Naperville-Elgin, ILCincinnati, OH-KY-IN
         Cleveland-Elyria, OH
         Columbus, OHCook County, IL
         Dayton, OH
         Detroit, MIDetroit-Warren-Dearborn, MI
         Flint, MI
         Indianapolis-Carmel-Anderson,  INJacksonville, FL
         Kansas City, MO-KS
         Louisville-Jefferson County, KY-INMiami-Fort Lauderdale-West Palm Beach, FL
         Milwaukee-Waukesha-West Allis, WI
         New York-Newark-Jersey City, NY-NJ-PAOrlando-Kissimmee-Sanford, FL
         Palm  Bay-Melbourne-Titusville, FL
         Philadelphia-Camden-Wilmington, PA-NJ-DEPittsburgh, PA
         St. Louis, MO
         Tampa-St. Petersburg-Clearwater, FLToledo, OH
         Trenton, NJ
         Youngstown-Warren-Boardman,  OH-PA  Related Documents NSI Expansion Fact Sheet (11/10/2015)
   Cook County, IL NSI Fact Sheet (4/15/2015) 
   Fannie Mae and Freddie Mac - MyCityMod Fact Sheet - Cook County, IL (4/15/2015) 
   Fannie Mae and Freddie Mac - "Modification MyCity" - Condado de Cook, IL (Español) (4/15/2015) 
   Detroit, MI NSI Fact Sheet - Update (10/2/2014) 
   Fannie Mae and Freddie Mac - MyCityMod Fact Sheet - Detroit, MI (10/2/2014) 
   Detroit, MI NSI Fact Sheet (5/13/2014)   Timeline NSI Timeline​ *Page last updated: August 25, 2022*​​​​​​​​​​​
 
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