SOURCE: National Community Stabilization Trust

National Community Stabilization Trust

May 18, 2015 08:00 ET

National Community Stabilization Trust Names Robert Grossinger as President

WASHINGTON, DC--(Marketwired - May 18, 2015) - The National Community Stabilization Trust (NCST) today announced that Robert Grossinger is the new president of the organization, effective immediately. Grossinger succeeds Craig Nickerson, who joined the nonprofit intermediary at its founding at the onset of the unprecedented 2008 housing crisis.

As president, Grossinger's priority will be to continue to move the organization's established market-relevant housing strategies forward, while increasing its focus on markets that are still struggling to see a housing and economic recovery.

Grossinger joins NCST from Enterprise Community Partners, where he was vice president providing thought leadership and partnership responses to the foreclosure crisis as well as the health and housing area.

Prior to his role at Enterprise, Grossinger served as senior vice president in the corporate social responsibility group at Bank of America, focused on the bank's neighborhood stabilization efforts. Grossinger has also served as an active member of the NCST Steering Committee since 2010.

"Rob's depth of experience in the community development and financial industries will serve NCST well at this pivotal time," said Ed Jacob, NCST board chair and past executive director, Neighborhood Housing Services of Chicago. The work of NCST is not done; too many boarded up homes remain in our communities. Rob has the tenacity and vision to continue our path forward."

NCST was created by industry-leading national nonprofits to develop a predictable, scalable method of conveying foreclosed and abandoned property from financial institutions to local community buyers.

Under Nickerson's leadership, NCST established innovative, technology-driven programs that resulted in the resolution of more than 19,000 distressed properties to-date. Programs such as First Look, REO Donations, the ReClaim Project (low value notes), and the Capital Fund continue to help state and local governments and non-profit and private sector developers to effectively acquire, rehabilitate and redeploy foreclosure and abandoned assets to new owners and renters. Nickerson is retiring after 45 years in the housing and community development arena.

"Craig's leadership in championing neighborhood stabilization and building sustainable programs creates a solid foundation for NCST's future growth. The Board sincerely appreciates his many accomplishments and his passion for underserved communities," said Jacob.

"It's truly been an honor to lead a dedicated team of professionals at NCST," said Nickerson. "I could not be more pleased with the Board's selection of Rob. In my opinion, there's no better person to lead this organization forward."

Grossinger will continue to collaborate with a broad set of industry partners -- federal government policy makers, local community leaders, and high profile financial institutions -- dedicated to addressing the needs in markets still struggling to stabilize.

"I am thrilled to join the NCST team," said Grossinger. "The foreclosure crisis may be winding down, but distressed real estate and lack of capital still hinder recovery in many markets. The NCST team, working closely with other national nonprofit organizations, must focus in these markets. We must offer even more holistic solutions, such as the purchase of non-performing mortgage notes, expanding the use of faster REO property solutions, and increasing access to development financing."

In addition to his work at Enterprise and Bank of America, Grossinger also served in important roles at LaSalle Bank, the Corporation for Supportive Housing, and the Illinois Housing Development Authority. The Chicago native is a graduate of Indiana University and the University of Iowa College of Law.

National Community Stabilization Trust
The National Community Stabilization Trust is a nonprofit organization committed to stabilizing our nation's neighborhoods. NCST serves as the bridge between financial institutions and local housing providers across the nation, and actively helps develop community-based housing strategies to ensure that low- and moderate-income families have access to affordable, safe homeownership and rental opportunities. www.StabilizationTrust.com

A high-res image of Robert Grossinger is included with this release.

Image Available: http://www.marketwire.com/library/MwGo/2015/5/15/11G041879/Images/Robert_Grossinger-white_bkgd-cmyk-347770368806.jpg

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