ADVISORY/PMI Mortgage Insurance Co., Fannie Mae & Partners Create Affordable Housing Opportunities in Flint.Business Editors/Real Estate Writers ADVISORY...for Thursday (Nov. 6) --(BUSINESS WIRE) Mission of Peace Celebrates 'Gateway to Homeownership: New Partnerships, New Communities, New Opportunities' What: PMI See Private Mortgage Insurance. Mortgage Insurance Co. (NYSE NYSE See: New York Stock Exchange :PMI) and Fannie Mae Fannie Mae: see Federal National Mortgage Association. are hosting the Mission of Peace Housing Counseling Agency's 1st Annual Dinner. The event celebrates the selection of Mission of Peace Housing Counseling Agency as a partner in PMI's Gateway Initiative, under which PMI will establish a revolving fund revolving fund n. A fund established for a certain purpose, such as making loans, with the stipulation that repayments to the fund may be used anew for the same purpose. Noun 1. enabling Mission of Peace to acquire properties, build new homes, and rehabilitate existing dwellings to provide homeownership opportunities for low- and moderate-income individuals and families in Flint. Where: Holiday Inn, 5353 Gateway Centre, Flint When: Thursday Nov. 6, 2003, 6:30 p.m. Dinner and announcements Who: Roger Haughton, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , PMI Group The PMI Group (NYSE: PMI) is a provider of credit enhancement products that promote homeownership and the provision of services essential to the building of strong communities. , Inc.; Fannie Mae, Fifth Third Bank, Republic Bank, Chemical Bank, Bank One and Standard Federal, and Mission of Peace. Background PMI Mortgage Insurance Co. is a leading U.S. residential mortgage insurer. PMI's Gateway Initiative will establish a revolving fund enabling Mission of Peace to construct new homes or to purchase and rehabilitate existing housing stock for low- and moderate-income individuals and families in Flint. As each project is completed, the fund is reimbursed from sale proceeds thereby providing an opportunity to start the next project. The Mission of Peace Housing Counseling Agency began in 1997 by the work of Rev. Elmira Vincent. She began conducting classes on her own and invited potential homeowners to meet with the housing professionals (bankers, mortgage companies, etc.). Today, the faith-based organization provides housing education/counseling to individuals and/or families leading to home ownership. |
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