Industry News

Nehemiah unveils down payment assistance ‘code of conduct’

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The Nehemiah Corp. of America today unveiled the Nehemiah Code of Conduct, a guideline of policies and standards based on the company's existing best practices. Nehemiah, a privately funded nonprofit provider of down payment gift assistance, also called on the $700 million industry to adopt similar standards. The company has offered to partner with the U.S. Department of Housing and Urban Development to institutionalize reforms that will better educate and protect home buyers. "Nehemiah created this industry to provide lower income, working families with the opportunity to achieve the social and economic benefits of long-term successful homeownership," said Scott Syphax, Nehemiah's president and CEO. "Over the years, we developed a set of guidelines and rules to help our homebuyers – what we call our 'Code of Conduct.' As the down payment assistance continues to grow rapidly – having now helped over 500,000 families nationally – it is essential we establish a cleare...