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Press Room

Press Releases

QuickDown.com periodically develops press releases to inform the industry and community of its progress. Simply click on the title of each release to read the full text.

Housing and Economic Recovery Act of 2008

August 6, 2008

In June of 2008, HUD once again proposed regulations that would eliminate charitable down payment assistance programs funded in part by sellers, even though two federal courts invalidated the same HUD plan in 2007. In that year approximately 15,000 comments protesting the proposed rule and supporting seller funded down payment assistance programs were registered with HUD, while less than 100 comments in support of the rule were registered during the public comment period.

U.S. District Court Issues Injunction

October 31, 2007

On October 1, 2007, HUD issued a rule prohibiting seller-funded downpayment assistance in connection with FHA loans. 72 Fed. Reg. 56002, 56007. This rule was scheduled to take effect on October 31, 2007; however, the U.S. District Court of the District of Columbia issued a preliminary injunction on October 31, 2007 to block implementation of the rule.

Information Regarding IRS Revenue Ruling 2006-27

May 9, 2006

The IRS is scheduled to publish Revenue Ruling 2006-27 on May 22, 2006. The ruling addresses some practices of the downpayment assistance industry in general. We are aware of the ruling, and are currently reviewing the information, and instructing our outside counsel to review the information as well.

IRS Renews DPA Alliance Corporation's 501(c)(3) Status

March 24, 2006

DPA Alliance Corporation received a renewal letter from the IRS confirming its 501(c)(3) status on March 24, 2006. DPA Alliance Corporation received its initial letter of confirmation August 20, 2001. This latest letter confirms that DPA Alliance Corporation's status as a 501(c)(3) organization.

DPA Alliance, QuickDown.com now approved with Countrywide

September 13, 2005

DPA Alliance Corporation has been approved as a national downpayment assistance provider for Countrywide. Countrywide is one of the nations largest and most respected home loan lenders...

DPA Alliance recognized by Utah's Senator Orrin Hatch

August 8, 2005

Utah Republican Senator Orrin Hatch has once again recognized DPA Alliance for its outstanding achievments. In a letter sent to DPA Alliance, Senator Hatch congratulated DPA Alliance on its continued success, and encouraged DPA Alliance to continue its efforts...

Davig G. Stewart named Managing Director

March 15, 2005

David G. Stewart has been named Managing Director for DPA Alliance Corporation. David recieved unanimous approval from the Board of Directors at DPA Alliance, and was approved for the position on March 15, 2005.

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