The Minnesota Mortgage Foreclosure Prevention Association (MMFPA) is a statewide nonprofit organization that was established in 1993. The purpose of the corporation is to provide support, networking, and information to persons and organizations working in the field of mortgage foreclosure prevention and to promote sound policies and practices, both in the public and private sectors, related to foreclosure prevention counseling. The Association promotes and/or provides education and training in order to improve and expand the quality and quantity of foreclosure prevention programs and services available to Minnesota residents.

In Minnesota, there are no other organizations or institutions which have developed and/or provide ongoing support and extensive training programs in the area of mortgage foreclosure prevention. Moreover, nationally, only a couple of organizations have been identified that provide limited training opportunities. In response to the lack of any local coordinated foreclosure prevention efforts, the Home Foreclosure Prevention Task Force convened in the early 1990's at the request of the Minnesota Attorney General’s Office. The mission of the Task Force was to identify the underlying causes of home foreclosures, to specify the weaknesses in the counseling programs currently providing assistance to families facing foreclosure, and to make recommendations to improve the delivery of those services in the future. The findings of the task force identified the need for training opportunities for social service providers who counsel families experiencing home foreclosure issues. Furthermore, it found that there was not a coordinated system or network in place to allow homeowners in default to connect with appropriate foreclosure prevention counseling programs and agencies.

In response, the MMFPA was formed and has established a statewide training, support and network for persons working in the field of mortgage foreclosure prevention. Furthermore, the association has developed a comprehensive 6.5 day Foreclosure Prevention Specialist training program. This series is currently offered on an annual basis at the University of Minnesota. In addition to this series, the association sponsors periodic (4-6) training seminars on various relevant foreclosure prevention topics. These training series provide up-to-date and accurate information and tools for persons and agency staff to assist homeowners in retaining ownership as well as mitigating losses to homeowners and the various stakeholders.

In addition to losses suffered by homeowners, neighborhoods, cities and others, a study conducted by the Family Housing Fund concluded that the estimated foreclosure costs to mortgage insurers are as follows:

These costs represent the average loss per property foreclosed. Without foreclosure prevention programs and well-trained counseling agencies assisting homeowners, these costs in public and private resources would be even more staggering.