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- Down Payment Assistance Provider Releases Code of Ethics and Best Practices at Mortgage Bankers Association Event -

Gaithersburg, Maryland (October 31, 2005) – AmeriDream, Inc., the nation’s leading provider of affordable housing opportunities, joined the largest event for residential real estate finance as a featured exhibitor at the Mortgage Bankers Association's Annual Convention & Expo.  The organization used the event as the venue for highlighting the paramount value of establishing a Code of Ethics and Best Practices for the down payment assistance industry.  The Code formalizes a set of principles and guidelines that ensure proper procedures govern the operation of non profit down payment assistance programs.  AmeriDream created the Code and challenged its competitors to ascribe to the principles as a way of enhancing industry credibility and integrity.

As the only down payment assistance provider to exhibit at the MBA show, AmeriDream advanced it long-standing relationships with the more than 6,000 real estate lending professionals in attendance.  AmeriDream also advanced awareness of its wide array of services and assistance available through its own programs and that of its parent organization, the Association for Homeowners Across America (AHAA).  

The MBA's Convention & Expo is the premier annual showcase for the latest information on real estate business trends, critical issues, new products and services and emerging technology.  As such, AmeriDream fits well in terms of its innovative offerings including not only down payment assistance, but also home owner education, loss mitigation and various other services designed to help people purchase a home and stay in the home as a way to build family wealth.

“The MBA Convention and Expo affords us an opportunity to reaffirm the importance and value of our offerings with the professionals who have daily contact with home buyers and sellers,” said Ann Ashburn, President & CEO of AmeriDream, Inc.  “Since AmeriDream’s inception, these professionals have been our advocates and allies helping to guide more than 300,000 people buy and sell homes through our down payment assistance program.  We felt it was essential that we take advantage of this opportunity to thank them and confirm our commitment to provide the services their customers require,” Ashburn concluded.

Along with AmeriDream, a number of important luminaries also were featured on the MBA program.  These include such distinguished figures as President Jimmy Carter, former Secretary of State Colin Powell and columnist George Will.  Alphonso Jackson, Secretary of the U.S. Department of Housing and Urban Development, was featured in a discussion of housing trends and priorities across the country.

A common theme among all participants and speakers was the increasing importance of homeownership across America.  AmeriDream has been dedicated to the advancement of homeownership since its founding in 1999.  The AmeriDream Down Payment Gift program provides up to ten percent of the purchase price of a home to qualified low- and moderate-income homebuyers.  The organization also provides opportunities to purchase renovated properties through its AmeriDream Redevelopment Program. 

The MBA Annual Convention & Expo ran from October 23 - 26 in Orlando, Florida. 

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About AmeriDream:

The mission of AmeriDream, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity. AmeriDream, Inc. is a non-profit, publicly supported organization that is tax-exempt under Internal Revenue Code Section 501(c)(3). AmeriDream, Inc. meets the requirements for a charitable organization, as referenced in the HUD Handbook 4155.1 REV-4, CHG-1 Section 2-10 for FHA insured loans.  In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area and Florida, and the Community Link Program nationwide. Through the Redevelopment Program, AmeriDream has spent more than $11 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $2 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, the Victims Rights Foundation and the Hatteras Island Rebuilding Fund.