NACA’s success has been the result of the active participation and advocacy of many thousands of its Members over the years.

The NACA Timeline below shows how the NACA program that “sounds too good to be true” has been made into reality through aggressive advocacy and providing the most effective affordable homeownership programs in the country.


  • 1988


    The Hotel Workers – Local 26 negotiates first ever Housing Trust Fund. 

    After a three-year public campaign, the Hotel Workers Union in Boston negotiates the first ever housing trust fund with hotel management. This provides hotel workers with down payment and other assistance in fulfilling the dream of homeownership. The contract requires an amendment to the federal Taft-Hartley Act. The Neighborhood Assistance Corporation of America (NACA) is founded.

  • 1990


    President Signs Housing Trust Fund into Law. 

    On April 18, 1990, President George Bush signs into law an amendment to Taft-Hartley, after Local 26’s national campaign including sending hundreds of workers to Capitol Hill. This allows housing assistance as part of union and management negotiations. It is the first change to the Taft-Hartley Act in over 30-years, and the first time a local union changed the Act.

  • 1991


    NACA Coins the term “Predatory Lending.”

    UNAC/NACA initiates campaign against financial institutions that targeted minority homeowners with high equity through unscrupulous “home improvement” companies (i.e. “Second Mortgage Scam Campaign”).

  • 1992


    NACA Exposes Predatory Lenders and Second Mortgage Scams.

    NACA conducts a two-and-a-half -year research and organizing campaign against second mortgage scams, leading to an investigation by the Massachusetts Attorney General. Over 400 newspaper articles and many more TV news reports document these unscrupulous practices against working people.

  • 1993


    NACA Organizes Senate Banking Committee Hearings on Fleet. 

    NACA organizes over 500 people from around the country to participate in the Senate Banking Committee hearings on second mortgage scams which focuses on Fleet. NACA’s CEO, Bruce Marks, testifies before the Senate and House Banking Committees. Over 100 Fleet victims meet at the Federal Reserve with the Board of Governors to document Fleet’s predatory lending practices. 60 Minutes does a scathing expose on Fleet’s loan sharking.

  • 1994


    NACA Defeats Fleet.

    Fleet agrees to NACA’s demands after its four-and-one-half year war after confronting Fleet CEO Terrence Murray at a Harvard Business School event. Fleet agrees to an $8 billion community reinvestment program, settles lawsuits and state attorney general investigations for over $350 million, and funds $140 million of a revolutionary mortgage program administered by NACA. This was the foundation for NACA’s Best in America homeownership program.

  • 1995


    NationsBank’s CEO Hugh McColl pledges $500 million to the NACA Program.

    McColl says that if NACA is as good as everyone says, NationsBank will be NACA’s biggest lending partner. McColl’s prediction proves to be accurate.

  • 1996


    NACA Defeats First Union, Signet and Riggs.

    First Union agrees to provide $150 million for the NACA program. Signet and Riggs Banks negotiate agreements with NACA. In Atlanta over ten thousand people attend the largest homeownership rally in America at the First Iconium Baptist Church.

  • 1998


    NACA Stops Settlement of Class Action by Associates/Ford. 

    NACA contacts over 100,000 Associates/Ford borrowers, organizes demonstrations where Ford does business and fills federal court hearings to overcapacity. NACA is successful in convincing the presiding federal judge to throw out an Associates/Ford settlement that would have provided Associates/Ford with immunity, the lawyers with millions of dollars, and the victims with only $50. NACA then begins organizing statewide class action lawsuits against The Associates.

  • 1999


    NACA Defeats the Associates/Ford.

    After NACA’s four-year campaign, media exposes including ABC Prime Time Live and disrupting Ford’s annual meeting, The Associates settles. They agree to a mortgage reduction program that automatically reduces interest rates for customers who make timely payments. This provides billions in savings for The Associates customers and revolutionizes the sub-prime market. The Associates commits $100 million to the NACA program.

    Bank of America Commits $3 Billion to the NACA Program after their review and impressive results.

  • 2002


    NACA is Instrumental in Passing Georgia’s Predatory Lending Protection Legislation.

    NACA mobilizes thousands of Members to work with Georgia Governor Roy Barnes to pass the nation’s strongest protections against predatory lending. As a result of the legislation, borrowers find relief from exorbitant fees and interest rates, prepayment penalties, and balloon payments.

  • 2003


    Bank of America and Citigroup Commit $6 Billion in New Funds to the NACA Program.

    Citigroup begins a new partnership with a commitment of $3 billion to the NACA program and initiatives to improve the lending practices of CitiFinancial. Bank of America, as part of its renewed community lending, provides another $3 billion to the program, bringing its total commitment to $6 billion.

  • 2004


    NACA introduces NACA-Lynx.

    Years in the making, NACA unveils its state-of-the-art, web-based paperless mortgage processing and application software called NACA-Lynx. This system transforms lending to low-and moderate-income borrowers by providing a process to obtain comprehensive counseling and access to the best mortgages available without consideration of their credit score.

  • 2006


    NACA Continues to Enhance NACA-Lynx and Expand the Program.

    Lenders Contact NACA about using the NACA-Lynx. Citigroup’s CEO Chuck Prince visits NACA’s national office to get a first-hand demonstration of the NACA program and NACA-Lynx.

  • 2007


    NACA’s CEO Bruce Marks is Named by the Boston Globe as the 2007 Bostonian of the Year.

    NACA Launches a Massive Program to Assist Homeowners with Unaffordable Mortgages. NACA’s Home Save Program includes obtaining a one-billion-dollar commitment to refinance people out of their unaffordable loans and working with lenders to modify/restructure loans on terms that the homeowners can afford over the long-term.

  • 2008


    NACA Establishes National Standard for Assisting At-Risk Homeowners Restructure their Mortgages.

    NACA sponsors the first historic Save the Dream Event with over 300 NACA counselors providing affordable solutions over five days at the Capital Hilton Hotel in Washington D.C. from July 19th to 23rd. Over 20,000 people participate and NACA is able to restructure many homeowners’ loans during the event and many thousands more afterwards.

  • 2009


    NACA Initiates the Accountability Campaign Against Mortgage Executives. 

    NACA holds the financial executives personally responsible for the mortgage crisis and their refusal to provide long-term affordable solutions. The first action is the Predators Tour in the Greenwich Ct. area on Sunday February 8th. Over 350 homeowners protested at the homes of John Mack, the CEO of Morgan Stanley, and Bill Frye, the CEO of the hedge fund Greenwich Capital. The impact is dramatic. It sets the standard in holding these executives personally responsible by bringing the consequences of their actions to their doorsteps and community in a non-violent but confrontational manner.

    The Home Save tour is an Incredible Success with Hundreds of Thousands of Participants. Thousands of homeowners receive same day solutions with many having their interest rates permanently reduced to as low as 2%, and in some cases, having the outstanding principal reduced based on what the homeowner can afford. Homeowners save hundreds of dollars each month and some over one thousand dollars. NACA provides the most effective long-term solutions establishing the national standard in providing long-term affordable solutions for at-risk homeowners – All of NACA’s services are FREE.

  • 2010


    The Save-the-Dream Tours continue with Events Throughout the Country.

    These events and the NACA’s Home Save program have been the only successful solution for large numbers of homeowners with an unaffordable mortgage. NACA now has legally binding agreements with all the major servicers/lenders and investors covering the vast majority of at-risk homeowners including: Bank of America, Wells Fargo, Citigroup, Chase, American Homes Servicing, Litton, GMAC, OneWest/IndyMac, IBM, Saxon, HSBC, Ocwen and the two major investors Fannie Mae and Freddie Mac. NACA has been so successful that virtually all the servicers and investors cooperate with NACA.

    NACA Continues its Advocacy Campaign Against Chase. Chase is the one servicer refusing to provide long-term affordable solutions. NACA stormed Chase’s corporate offices in Wall Street with thousands of homeowners. NACA works with Chase’s regulator, the OCC, in addressing thousands of complaints against Chase and continue to assist the Chase borrowers.

  • 2011


    Bank of America adds $3 Billion to its Commitment to NACA’s Best in America Mortgage.

    NACA Sues and Defeats HUD and NeighborWorks.

    NACA Defeats Chase. Chase signs a new agreement with NACA and now offers some of the best restructure solutions to NACA Members as a result of NACA’s advocacy.

  • 2012


    NACA Includes Purchase Program in the Expanded American Dream Tour.

    NACA assists both homeowners to obtain an affordable payment and homebuyers to purchase homes with NACA’s Best in America mortgage. NACA does over 100 Save-the-Dream/American Dream events over the past four-and-a-half years with 43 in 2012, setting the national standard in providing affordable solutions for hundreds of thousands of at-risk homeowners.

  • 2013


    NACA Demonstrates at the Consumer Financial Protection Bureau (“CFPB”) with Over 1,000 People.

    NACA shuts down their operations to highlight their refusal to assist the many thousands of homeowners who have been denied modifications from their lenders. NACA staff and Members visited every member of Congress to inform them of NACA’s programs and our mission. NACA does another twenty-four American Dream events.

  • 2014


    NACA Returns to Washington D.C. with Hundreds of NACA Staff and Members.

    NACA visits every member of Congress to remind them of NACA’s programs and our mission. CFPB addresses NACA’s concerns and is supportive of NACA’s homeownership programs. NACA continues the American Dream events nationwide. NACA negotiates new agreements with CitiMortgage and Bank of America making additional buy-down funds available for low-to-moderate income borrowers. NACA introduces the revolutionary fifteen-year Wealth Builder Mortgage.

  • 2015


    NACA initiates Neighborhood Stabilization Program in Detroit.

    NACA is the first to provide 150% loan-to-value (“LTV”) mortgages. The Detroit Free Press wrote an editorial about the NACA mortgage titled “Mortgage Program is Key to Detroit’s Future”. NACA worked with the OCC to provide a standard for high LTV mortgages in markets cut-off from conventional credit.

  • 2016


    NACA has Highest Number of Purchase Program Closings Ever.

    NACA streamlines the process, closing loans within 28 days from the executed Purchase & Sale Agreement.

  • 2017


    NACA Expands Homeownership Opportunities for Working People. 

    NACA makes homeownership for Section 8 Housing Choice Voucher recipients possible and affordable through NACA’s HOT-PHA program.

  • 2018


    NACA implements five-day “Achieve the Dream” events.

    Provides one stop mortgage operation for low and moderate income homebuyers to be approved for NACA’s Best in America mortgage.

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