Greetings,

Neighborhood Housing Services of Silicon Valley continues to make great strides in our quest to help working families realize their dream of homeownership in one of the most difficult times and locations. In the past few years, we've helped over 400 low and moderate-income families get into homes in the bay area through programs designed to educate the homebuyer, counsel the homebuyer through the lending process, and make available multiple loan programs to qualify the homebuyer and provide access to affordable housing. We're proud to boast a zero percent default rate on our programs given this full-cycle lending approach.

The statistics and financial summaries of NHSSV amply demonstrate the organization's growth. The testimonies of first-time homebuyers bear witness to the effectiveness of its programs. The strengthened relationships with our partners reflect its high level of performance. A critical element of success has been our collaboration with public and private partners. These partners, especially Neighborhood Reinvestment Corporation, the City of San José, and numerous financial institutions, form a strong foundation upon which NHSSV's NeighborWorks® HomeOwnership Center stands firm and through which the organization's outcomes are achieved.

NHSSV's Board of Directors also continues to grow in its depth of commitment and in its understanding of the organization's potential to increase its impact in the lives of its constituents. We've transformed our board into active and passionate leaders from the community all connected by the important mission of NHSSV.

In short, NHSSV is making a difference for low- and moderate-income families in one of the nation's most difficult housing markets. It has been my honor to serve as Board President; and it is with great excitement that I look ahead, knowing that NHSSV is poised to continue growing in its effectiveness and impact.

Ken Parekh

Board President