The Nehemiah Corporation Of America Launches Mortgage Payment Protection Insurance Policy

Business Wire, April 5, 2004

Business Editors

SACRAMENTO, Calif.--(BUSINESS WIRE)--April 5, 2004

The Nation's Leading Non-Profit Provider of Down Payment Assistance Creates New Service to Help Down Payment Gift Recipients Protect Their Homes In the Event of Unforeseen Job Loss

In an effort to help the thousands of families that receive a down payment gift each month from the Nehemiah Corporation of America (www.nehemiahcorp.org or www.getdownpayment.com) protect their homes in the event of unforeseen job loss, Nehemiah announced today that it would be offering its buyers a mortgage payment protection insurance policy.

The Nehemiah Program(R) has partnered with Mortgage Payment Protection Inc. to offer MortgageGuardian(TM), a payment protection insurance policy. This new service offers unparalleled security for the buyer and lender during the first year of the loan by covering up to six months of the buyers' mortgage payments. Homebuyers utilizing Nehemiah gift funds will have access to this coverage effective on their loan closing date.

"Nehemiah has always seen homeownership as the best means to securing family wealth, a notion that compliments our goal of creating responsible homeowners. While it has been documented that down payment assistant recipients do not pose any greater risk to foreclosure than traditional homebuyers, we are offering MortgageGuardian to help insure that protection begins at home. We are confident that providing mortgage protection insurance will help secure our recipients future, as well as provide a level of security to the holders of their loans," said Scott Syphax, president and CEO of Nehemiah. "Becoming a homeowner is the gateway to a lifetime of wealth creation, and protecting that future is what this product is all about."

Should an unforeseen event happen, MortgageGuardian will pay up to six monthly loan payments (PITI - principal, interest, taxes and insurance), of up to $1,500 per month to cover the cost of the payment. Coverage begins on the date of the loan closing and ends twelve (12) months from the loan closing date.

MortgageGuardian is designed to help Nehemiah gift recipients:

-- Protect their financial security by keeping savings,

retirement and college funds intact.

-- Relieve the pressure of late mortgage payments.

-- Minimize financial stress and provide borrowers the time to

get control of their employment security.

-- Ensure homeownership is a long-term, healthy family investment

About Nehemiah Corporation of America

Founded in 1994, Nehemiah Corporation of America, http://www.nehemiahcorp.org, is a Sacramento-based nonprofit organization committed to empowering lives and enriching communities nationwide. Nehemiah transforms lives by increasing homeownership opportunities for diverse populations, while maintaining its commitment to successful, responsible homeownership. Nehemiah transforms communities by expanding its faith-based, charitable and community development initiatives into underserved neighborhoods across America. In 1997, Nehemiah launched its flagship program, The Nehemiah Program(R), to provide down payment assistance to homebuyers. To date, Nehemiah has provided more than $650 million in down payment assistance gifts, resulting in $20 billion in real estate transactions and has helped over 175,000 families and individuals achieve their dream of homeownership. Committed to comprehensive community reinvestment, Nehemiah has fostered partnerships with Habitat for Humanity, HomeAid America and the US Conference of Mayors. In addition to providing downpayment gift assistance, Nehemiah has created other programs that work to enrich communities including: Nehemiah Community Reinvestment Fund, Nehemiah Community Foundation and Nehemiah Urban Ministry Initiatives (NUMI).