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A Dream Deferred? The Future of Housing Opportunities for African Americans
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SECTION 8: Philadelphia Housing Authority - Spoiled Black People
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    (BPRW) Wells Fargo Survey Reveals Consumer Views on Homebuying

     Wells Fargo Survey
    (Graphic: Business Wire)

     Wells Fargo Survey
    (Graphic: Business Wire)

     Wells Fargo Survey
    (Graphic: Business Wire)

     Wells Fargo Survey
    (Graphic: Business Wire)



    (BLACK PR WIRE) – DES MOINES, Iowa--(BUSINESS WIRE)-- While more than two-thirds of Americans (68 percent) feel that now is a good time to buy a home, many may be reluctant to do so because of uncertainty about qualifying for a mortgage or navigating the homebuying process, according to the recent “How America Views Homeownership” survey by Wells Fargo & Company (NYSE: WFC) and Ipsos Public Affairs.

    “Although the homebuying process has changed in many ways in recent years, our survey found Americans still view homeownership as an achievement to be proud of and many believe that now is a good time to buy a home,” said Franklin Codel, head of Wells Fargo Home Mortgage Production. “Our survey also suggests we have an opportunity as lenders, nonprofit agencies and real estate agents to better inform Americans about credit ratings, mortgage costs and housing affordability. This would help demystify the homebuying experience for many consumers.”

    Solid Financial Foundation
    The “How America Views Homeownership” nationwide survey of 2,017 adults also revealed many Americans report that their financial houses are in order, which improves their ability to buy a home. For example:

    • 82 percent of respondents said that they understand how to manage their personal finances (how to save, earn and invest money, and work within a budget), and the same proportion, 82 percent, agreed that they generally do not spend beyond their means.

    • 63 percent of respondents have a “rainy day fund,” including more than half of the millennial respondents, ages 18-34.

    • Most respondents are also careful with their money: Only 27 percent agreed that they tend to spend their money and not think twice about it.

    Homebuying: What Consumers Know
    Though 74 percent of the survey respondents said they “know and understand” the financial process involved in buying a home, respondents also gave answers that suggest they may not be aware of all their options as prospective homebuyers.

    • 30 percent of respondents believe that only individuals with high incomes can obtain a mortgage.

    • 64 percent of respondents believe they must have a “very good” credit score to buy a home.

    • While 64 percent of respondents said that they are knowledgeable about how much of a down payment is needed to buy a home, nearly half (44 percent) also believe that a 20 percent down payment is required. In reality, a 20 percent down payment is not a requirement on many loan programs. o When respondents were asked to list the biggest barriers to owning a home, lacking the funds for a down payment was among the top issues, especially for respondents aged 18-34.

    • Nearly half (44 percent) of the respondents said that they know nothing or very little about the closing costs required for buying a home.

    • About half of the respondents feel they do not have access to homes that fit their needs financially.

    Homebuyer Education Helps People Become Homeowners
    “It is important for prospective homebuyers to feel empowered to ask lenders and real estate agents questions about available options, such as down payment assistance or FHA loan programs or VA loans for veterans,” Codel said. “Ninety-five percent of survey respondents said they want to own a home if they don’t already. Informing prospective homebuyers about their options is the first step toward helping them realize their goals.”

    Wells Fargo offers many homebuyer education tools within our Online Learning and Planning Center in addition to the following:

    My FirstHome: Thousands have visited this free, interactive online tool to help first-time and ready-again homebuyers learn and prepare for the process.

    NeighborhoodLIFTsm and CityLIFTsm: A collaboration between Wells Fargo and NeighborWorks America, these programs help borrowers understand the responsibilities of
    " provides a wide range of conventional and government loans to serve the needs of qualified borrowers with programs focused on the needs of low- to moderate-income and first-time homebuyers. "
    homeownership and provide down payment assistance to qualified prospective homebuyers. Since 2012, the programs have helped over 7,500 new homeowners and provided over $210 million in down payment assistance.

    • Wells Fargo Home Mortgage provides a wide range of conventional and government loans to serve the needs of qualified borrowers with programs focused on the needs of low- to moderate-income and first-time homebuyers. These include: FHA and VA loans, renovation loans in amounts to cover both the home purchase and needed repairs, and regional programs that typically provide lower interest rates and closing costs.

    These are some of the findings of an Ipsos Public Affairs poll conducted on behalf of Wells Fargo from June 3-16, 2014. For the survey, a randomly selected representative sample of 2,017 adults were interviewed online. With a sample of this size, the results are considered accurate to within ± 2.18 percentage points, 19 times out of 20, of what they would have been had the entire adult population of the U.S. been polled. The margin of error will be larger within sub-groupings of the survey population. These data were weighted to ensure that the sample’s age/sex composition reflects that of the actual U.S. population according to Census information.

    About Wells Fargo
    Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.6 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives and stories are also available at blogs.wellsfargo.com and at wellsfargo.com/stories.


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    Fraud on the court

    Preface


    Fraud on the court is limited to fraud that does, or at least attempts to “defile the court itself,” or that is perpetrated by officers of the court “so that the judicial machinery cannot perform in the usual manner its impartial task of adjudicating cases.” 12 Moore’s Federal Practice 3d ¶ 60.21 [4][a] (3d ed.2003)

    " these are wrongs against the legal institution itself that is set up to protect and safeguard the public. "
    2. Although fraud on the court occurs in many forms, its purpose is to subvert the judicial process. Therefore, when lawyers and judges commit, as well as conspire to commit frauds for purposes of unfair advantage, and by such means effect tainted rulings and judgment, these are wrongs against the legal institution itself that is set up to protect and safeguard the public. Further, when lawyers and judges engage in revolting, underhanded juridic acts –and by such acts effect sullied judgments and rulings, enforcement of those judgments and rulings become patently unconscionable. Damage caused by fraud on the court not only tarnishes court sanctity and litigant assurances, but fraud on the court egregiously violates the rights of petitioners who have no other choice other than to be bound by outcomes of unfair court proceedings –notwithstanding emotional, physical, financial, and personal depletion litigants unjustly sustain. Repugnant judicial behavior that fits the foregoing description are explicitly described below in this pleading.

    Early On Judicial Subversions Attesting To Impossibility of A Fair Trial In A Fair Tribunal


    3. Since this July 8, 2013 fair housing case was filed, as a consequence of odious judicial machinations, this case is being presided over by judges, aided by certain attorneys who unblushingly carry out acts prejudicial to the administration of justice –consisting of, but not limited to these:

    http://www.lawgrace.org/2014/09/10/fraud-on-the-court-more-on-lawsuit-barbara-jackson


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    (BPRW) African American Developing His Inner City Land

    Richard Michael Abraham Teaches and Mentors Him Each Step of the Way


    (BLACK PR WIRE) – Boston, MA– Richard Michael Abraham, founder of The REDI Foundation, announced at a press conference, “The prime real estate and property development opportunities today are located in the U.S. inner cities.”


    F. Todd Ryan


    The REDI Foundation offers the World’s most comprehensive Real Estate Development 6-Month Mentoring Course. Each student is mentored one-on-one to complete a “real” and feasible real estate development project under the watchful eye and private mentoring of Mr. Abraham.

    F. Todd Ryan (seen in the photo) graduated the Course and his inner city land – once valued at $50,000 is now planned for a $4,000,000 mixed-use development. “Not only has Mr. Abraham removed the enigmas out of the real estate developing puzzle but he has accelerated my drive to move forward with my mixed-use, apartment and retail development on a vacant lot that I’ve owned for the last 10 years,“ Todd stated. (Todd’s development can be seen on REDI’s website)

    “The development opportunities for land or property owners in inner city communities are prime. Their land or property can command two or three times its “as is” value when the land and property owners learn the development skills needed to package their land or property. Also, entrepreneurs and professionals living in the inner city can learn how to package joint venture developments with land and property owners and investors. Timing is perfect for inner city land and property owners and entrepreneurs,“ Mr. Abraham added.

    The REDI Foundation’s studies show that in past U.S. development boom cycles, African Americans were left behind and missed out, unable to get into real estate development in their own communities. Wealthy outside investors and developers came into the inner city communities and made their fortunes. But this time, The REDI Foundation and Mr. Abraham are teaching the knowledge necessary to succeed.

    Serious applicants only should carefully review all the details about the Course on the website, www.redii.org. Read about the student success stories and see their developments and if you possess a passion to learn these development skills, to apply, complete and submit your Application or call 561-990-7599 to apply. REDI’s Application Director will review tuition costs, any partial scholarships available and payment plans.


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    New Report: Private Equity Firms’ Ownership of Single Family Homes Could Lead to Next Housing Bubble

    Corporate Interest in Single Family Homes Driving Up Rents in Urban Areas, Creating Massive Rental Speculation Market in Wake of Foreclosure Crisis


    New York, NY-- Private equity firms are driving toward a second housing bubble, spending more than $20 billion on single family homes since 2012, according to a new report released today by national housing group Right to the City Alliance entitled Rise of the Corporate Landlord: The Institutionalization of the Single Family Rental Market and its impact on Renters. The results have already proven disastrous for many low-income communities-- with rents skyrocketing and corporate, absentee landlords proliferating in urban areas across America. The cities hardest hit by rental speculation include: Atlanta, Phoenix, Los Angeles, Chicago, Las Vegas, Tampa, and Charlotte.

    “The same kinds of financial institutions that drove the foreclosure crisis and bankrupted families across America have a new target: the rental market,” said Rachel Laforest, Executive Director of Right to the City, “The transformation of single-family rental housing from a ‘mom and pop’ industry to a global investment opportunity needs to be closely studied and regulated. If we don’t act fast, we could be facing another bubble and another crash.”

    Top lines from the new report include:

    Private Equity Firms have invested $20 billion in single family homes since 2012, buying mostly foreclosed properties in low-income communities and raising rents and security deposits to astronomical levels. Some analysts estimate the value of the rental market as a $1.5 trillion opportunity.

    This cycle of rental speculation could lead to yet another bust-- one that hurts low income communities across America once again. In the mean time, families are left with absentee corporate landlords that have little incentive to make repairs, deal with pests, or discuss issues with rent.

    The report recommends the following 3 solutions:

    Expand research: Private equity firms are opaque, thinly regulated, high-risk investors, so the need for publicly-funded research is urgent to shed light on their impacts.

    Rethink tenants’ rights for the era of big data: Tenants should know and have a say in how investor-landlords collect and use data, and how that could impact their credit score. The Consumer Financial Protection Bureau should aid tenant access to data and ensure that inconsistencies can be corrected.

    Generate resources for tenants: It’s time to implement a financial transaction fee on rental bonds. See the full “Rise of the Corporate Landlord” report here: http://bit.ly/1jyK2cX

    See the executive summary here: http://bit.ly/1kwMuvN



    A survey of LA and Riverside residents in private equity firm owned homes will be released on Monday, revealing the in-depth effects of this issue on two communities.

    Statement from Representative Mark Takano (CA-41) on today’s new report:

    “Rental costs are getting further and further out of reach for working families. Wall Street's purchasing of hundreds of thousands of foreclosed homes for the purpose of converting the properties into rentals and securitizing them into bonds, is troubling and must be closely monitored by the federal government. This confirms and expands upon what my office found earlier this year.

    "Nearly two-thirds of the tenants in these corporate rentals surveyed in my district are burdened with unaffordable rent. If there is anything that we should have learned from the housing crisis, it is that Wall Street's top priority is increasing its bottom line, not improving communities or creating products that provide long term benefits to consumers. The actions by these investors must be monitored to ensure that renters and local communities are treated fairly. I call on the House Financial Services Committee and other government agencies to take a close look at Blackstone and the other corporations following their lead.”

    See Rep. Takano's report from earlier this year here: http://1.usa.gov/WjMFoW

    Right to the City (RTTC) is a national alliance of racial, economic and environmental justice organizations. Right To The City was born out of a desire by members, organizers and allies around the country to have a stronger movement for urban justice.

    This report was written as part of Homes For All, a national campaign that is broadening the conversation of the housing crisis beyond foreclosure and putting forth a comprehensive housing agenda that also speaks to issues affecting public housing residents, homeless families, and the growing number of renters in American cities.


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    A Tool for Black Wealth Creation


    A new digital book called the “Black Strategies – Construction Project” by architect/designer William Edward Summers is a concept specifically created to encourage and facilitate Black land ownership and development. The book contains very complete plans for experimental small buildings designed to be self liquidating and create immediate positive cash flow. The book also contains a primer that covers the planning, construction and permitting process so that a clear path to project completion is understood.

    The “Black strategies – Construction Project” book features an eight unit micro apartment building that is slightly under three thousand square feet total , a mini coach house that consists of an extra large single car parking space or workshop with a mini apartment above, a tiny micro coach house with a tight single car space or workshop below and a micro apartment above, and a flexible use single family house with an in-law law apartment included. This building can be reconfigured as four one standard one bedroom apartments with no exterior modifications or structural renovations. All of the buildings are designed to fit on small lots. In addition to these building a plan for a low impact rural camp structure, designed to be built very inexpensively without a building permit on remote rural land is included This is a building that can be built from a basic pick up truck..

    Black land ownership around the turn of the last century was about twenty million acres. It has now dwindled to abut two million acres. Land ownership has been one of the primary creators of wealth throughout history. Discrimination again kept returning Black WWII vets from participating in the U.S. development, build out, furnishing and servicing of suburbia that was one of the economic engines that created America’s upper middle class between the war and 2010. This has added to the impoverishment of the Black community.

    By taking the plans in the “Black Strategies – Construction Project”, using Black banks and realtors, hiring Black builders, and renting to Black tenants a micro version of the great suburban wealth boom can be replicated immediately within the Black community.

    Hiring and working with an architect can be an expensive and time consuming experience. The building permit and development process can be confusing and frustrating. The “Black Strategies – Construction Project” simplifies the steps required for success and educates the project owner on the entire process.

    The “Black Strategies - Construction Project" by William Edward Summers

    www.blackstrategies.wordpress.com/77-2


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    Rents and Renting Skyrocket in US -- Many Paying Over 50% of Household Income


    New Report Chronicles Rise of 'The Renter Nation' And Massive Affordability Crisis; Findings Project the Emerging Rental Market Will Consist Primarily of Communities of Color Within the Next Decade

    ** See the Report Executive Summary: http://bit.ly/1kAEbnf%20 **

    According to a new report released today by the Homes for All Campaign of Right to the City, the United States is in a new phase of the housing crisis. The report, Rise of the Renter Nation: Solutions to the Housing Affordability Crisis reveals details on a new phase in the housing crisis -- from skyrocketing costs to stagnant wages and corporations driving up home prices with speculative investments -- as well as laying out key solutions. As the possibility of homeownership dwindles for many, the rental market is becoming the only option for millions of families, especially for low-income communities of color, making sky-high rents all the more concerning.

    Dozens of community organizations are joining with families affected by the housing crisis this month to fight back, with actions in 11 cities and counting including: Los Angeles, San Francisco, Boston and more.

    See a full list of actions and details here: http://homesforall.org/campaign/events/

    Key toplines from the report include:

    We are in the midst of an affordability and gentrification crisis: Incomes have remained relatively stagnant since 2000, but rent and housing costs are on the rise. The rental market is soaring, homeownership is dwindling in America. The vast majority of the net increase in renters over the next decade will be people of color, with Latinos alone accounting for more than half of the total. Corporations like Blackstone Group and American Homes4Rent have spent approximately $20 Billion dollars buying up single family homes in the last 2 years, a key cause of skyrocketing housing prices, especially in low income communities.

    There are direct solutions that will start to address this crisis: by funding the National Housing Trust Fund, and passing Renter’s Bill of Rights legislation in cities across America.

    See the full report here: http://bit.ly/HFA_RenterNation_Full_Embargoed

    “We are in a new phase of the housing crisis,” said Rachel Laforest, Executive Director, of Right to the City. “This new report shows that skyrocketing housing costs have met stagnant wages to effectively push affordable housing out of reach for millions-- especially in low income communities of color. We have to take action to avoid yet another cycle of families on the streets, and yet another pummelling of low income and middle class Americans.”

    This month, the Homes for All campaign will collaborate with numerous fair housing organizations across the nation in attempt to demand immediate action, spread awareness about the current state of the housing market and the burgeoning status of the rental market.

    For interviews with Homes for All members, local housing groups, or families struggling to afford housing, please contact Anna Zuccaro at anna@fitzgibbonmedia.com or (914) 523-9145.

    ###


    Homes for All is a national campaign to win affordable and stable housing for residents in urban centers. Nationally, we are pushing to expand affordable housing by holding the Federal Housing and Finance Agency accountable to support the National Housing Trust Fund. Locally, we are fighting forced evictions, gentrification and displacement by pushing for local policies to protect the rights of homeowners, renters, public housing residents and homeless people. We believe that housing is a human right not a commodity.

    For information go to homesforall.org


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    No Implied Endorsement:
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    Fair Housing Act federal cases


    Shreveport Housing Authority, Gentrification, FEMA-HUD, and Hurricanes Rita & Katrina Evacuees
    http://www.lawgrace.org/2014/05/13/shreveport-housing-authority-gentrification-fema-hud-and-hurricanes-rita-katrina-evacuees/

    Lawsuit allegations, information in the matter of: Barbara Jackson v. Pittre Walker, et al
    http://www.lawgrace.org/2014/05/14/lawsuit-allegations-information-in-the-matter-of-barbara-jackson-v-pittre-walker-et-al/

    Barbara Jackson

    www.lawgrace.org


    Fair Housing Ac






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    The articles on this website are provided for information purposes only. BlackRefer.com does not accept any responsibility or liability for the use or misuse of the article content on this site or reliance by any person on the site's contents.

    No Implied Endorsement:
    BlackRefer.com does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to BlackRefer.com belong to them alone and do not necessarily reflect the views of BlackRefer.com.



    Largest Property Preservation Company in Nation Accused of Housing Discrimination


    - Safeguard Properties Accused of Racial Discrimination in Maintenance of Foreclosed Homes in Dayton, Toledo, Baton Rouge, New Orleans, and Memphis -

    Today, the National Fair Housing Alliance (NFHA) and three of its member organizations announced an amended federal housing discrimination complaint against Safeguard Properties, headquartered in Ohio. Safeguard is the nation’s largest privately-held property preservation company, also known as a field service vendor. Fannie Mae hired Safeguard to maintain and market its bank-owned, foreclosed homes, also known as Real Estate Owned or REO properties.

    This complaint, filed with the U.S. Department of Housing and Urban Development, is the result of an investigation into Safeguard Properties and its failure to maintain foreclosed homes in African-American and Latino neighborhoods as compared to White neighborhoods in a number of metropolitan areas nationwide. Today’s complaint presents new evidence from New Orleans and highlights the investigations in Dayton, Toledo, Baton Rouge, and Memphis. NFHA and its partner agencies filed their first complaint against Safeguard Properties in 2013. Failing to maintain homes based on the racial or ethnic composition of the neighborhood violates the federal Fair Housing Act.

    Safeguard Properties was recently named in a report by the Federal Housing Finance Agency’s Office of the Inspector General, which described how the preservation companies that the OIG reviewed provided inaccurate information and manipulated photographs in their reports to Fannie Mae. The Illinois Attorney General also has a lawsuit pending against Safeguard.

    “After we filed our first complaint against Safeguard Properties in March 2013, we met with them to outline the maintenance disparities in African-American and White neighborhoods,” said Shanna L. Smith, President and CEO of the National Fair Housing Alliance. “However, Safeguard claimed the examples of failed maintenance were isolated incidents and has continued in its failure to maintain properties in African-American and Latino neighborhoods.”

    Safeguard is contracted to cover eight simple maintenance issues:

    substantial accumulation of trash or debris;
    overgrown grass/leaves;
    overgrown or dead shrubbery;
    invasive plants (covering 10% or more of the structure);
    unsecured or broken doors;
    unsecured or broken windows;
    unsecured holes in the structure;
    broken or missing steps and handrails.

    NFHA, the Miami Valley Fair Housing Center in Dayton, OH, the Toledo Fair Housing Center, and the Greater New Orleans Fair Housing Action Center described their findings in Dayton, Toledo, Baton Rouge, New Orleans, and Memphis. In all cities, the groups found significant amounts of trash, overgrown invasive plants, and unsecured holes in the building structures of homes in communities of color, while rarely finding the same problems in White neighborhoods.

    NFHA and its member agencies are represented by Relman, Dane & Colfax PLLC located in Washington, D.C.

    Detailed statistics and photos are available at www.nationalfairhousing.org.

    NFHA has also filed complaints regarding the maintenance and marketing of foreclosed homes against Bank of America, Deutsche Bank, and US Bank. Many of the neighborhoods investigated overlap. Added together, the blight and damage caused to these communities by the banks is compounded. Health and safety risks increase because of accumulated trash and overgrown lawns attracting rodents and insects and broken windows and doors inviting vandalism.

    The Fair Housing Act makes it illegal to discriminate based on race, color, national origin, religion, sex, disability, or familial status, as well as the race or national origin of residents of a neighborhood. This law applies to housing and housing-related activities, which include the maintenance, appraisal, listing, marketing, and selling of homes.

    CITY-SPECIFIC INFORMATION

    Dayton:
    63% of properties that Safeguard serviced in African-American neighborhoods had three or more deficiencies compared to only 19% in White neighborhoods. 64% had substantial overgrowth of invasive plants, 55% had damaged steps or handrails, and 37% had unsecured holes in the building structures. “It is inexcusable that a company that brags about being a ‘turnkey resource for all aspects of default property management’ would allow properties to be maintained in this fashion. Safeguard Properties claims to pride itself on its ‘attention to detail,’ but anyone who lives near or around a property maintained by Safeguard knows better,” said Jim McCarthy, President and CEO of the Miami Valley Fair Housing Center.

    Toledo:
    88% of properties that Safeguard serviced in African-American neighborhoods had three or more deficiencies, versus 24% in White communities. 75% had broken or unsecured doors, 50% had damaged steps or handrails, and 38% had unsecured holes in the building structures. “We have seen a failure on the part of Safeguard to provide adequate maintenance of REO properties in communities of color. These communities were hardest hit by predatory lenders, then the foreclosure crisis, and now blighted REO properties. The lenders and the preservation companies, like Safeguard, played a role in the decline of the American dream; now they must play a role in neighborhood stabilization,” said Michael Marsh, President and CEO of the Toledo Fair Housing Center.

    Baton Rouge:
    Every Safeguard-serviced property in African-American neighborhoods had overgrown grass and leaves, and half had significant trash, compared to none in White neighborhoods.

    New Orleans:
    78% of Safeguard-serviced properties in communities of color had significant trash accumulation, compared to 12% in White neighborhoods. 52% of properties in communities of color had overgrown or dead shrubbery, compared to 18% in White neighborhoods. “You might assume that you’ve got a great neighbor in a company with a name like ‘Safeguard.’ But in Southeast Louisiana, we have found that having this company as your neighbor means you actually need to keep your guard up,” said James Perry, Executive Director of the Greater New Orleans Fair Housing Action Center. “We have been fighting blight for years, but we never expected that neighborhoods of color would have to confront Safeguard for un-neighborly, value-depreciating antics like these. Today, we’re simply calling on Safeguard to step up to the plate and play fair in all New Orleans and Baton Rouge neighborhoods, regardless of their racial makeup.”

    Memphis
    54% of properties serviced by Safeguard in neighborhoods of color had significant trash accumulation, compared to none in White neighborhoods. Almost half of Safeguard-serviced properties in neighborhoods of color had unsecured holes in the building structures. 37% had leaves and overgrown grass, and more than one-quarter had broken or unsecured windows. “Buy a rake and clean it up, Safeguard. Fannie Mae is paying you enough to do something as simple as that,” said Shanna L. Smith, President and CEO of the National Fair Housing Alliance. “It is just shameful – not to mention illegal – that Safeguard blatantly disregards neighborhoods of color in Memphis by leaving a mess on the properties it claims to service. This creates an eyesore and damages the property values in these communities. ”

    ####


    National Fair Housing Alliance Founded in 1988, the National Fair Housing Alliance is a consortium of more than 220 private, non-profit fair housing organizations, state and local civil rights agencies, and individuals from throughout the United States. Headquartered in Washington, D.C., the National Fair Housing Alliance, through comprehensive education, advocacy and enforcement programs, provides equal access to apartments, houses, mortgage loans, and insurance policies for all residents in the nation.

    Toledo Fair Housing Center The Toledo Fair Housing Center’s mission is to eliminate practices of housing discrimination and expand equal housing opportunities. In fulfilling that mission, the Center has set many precedents and increased housing opportunities locally and nationally. The Center has been a leader in fair housing enforcement, having investigated over 11,000 complaints of discrimination and recovered over $30 million in damages.

    Miami Valley Fair Housing Center The Miami Valley Fair Housing Center is a comprehensive full-service fair housing center in Dayton, Ohio, with experience in auditing and testing activities, anti-predatory lending investigation and remedy, mortgage rescue scam intervention, foreclosure prevention counseling, and mortgage modifications, as well as fair housing and fair lending education and outreach. MVFHC works throughout the Miami Valley to eliminate housing discrimination and ensure equal housing opportunity for all people in its region.

    Greater New Orleans Fair Housing Action Center The Greater New Orleans Fair Housing Action Center (GNOFHAC) is a private, non-profit civil rights organization that was established in the summer of 1995 to eradicate housing discrimination throughout the greater New Orleans area through education, investigation, and enforcement activities. GNOFHAC is dedicated to fighting housing discrimination not only because it is illegal, but also because it is a divisive force that perpetuates poverty, segregation, ignorance, fear, and hatred.

    The work that provided the basis for this publication was supported, in part, by funding under a grant with the U.S. Department of Housing and Urban Development. The substance and findings of the work are dedicated to the public. The author and publisher are solely responsible for the accuracy of the statements and interpretations contained in this publication. Such interpretations do not necessarily reflect the views of the Federal Government.


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    (BPRW) LIFT programs help 5,000 people achieve dream of homeownership


    - Collaboration between Wells Fargo and NeighborWorks America provides homebuyer education and down payment assistance -

    (BLACK PR WIRE) — SAN FRANCISCO and WASHINGTON, DC — December 19, 2013 — Wells Fargo & Company, America’s largest mortgage lender, and NeighborWorks America, a national nonprofit organization which creates opportunities for people to live in affordable homes and improve their lives, today announced more than 5,000 low- to moderate-income adults have become homeowners with the help of homebuyer education and down-payment assistance offered through LIFT programs.

    The LIFT programs, a collaboration between Wells Fargo and NeighborWorks America, are a $180 million multi-market initiative designed to help mortgage-ready buyers through services that include homebuyer education and down-payment assistance. The programs – first launched in February 2012 in Los Angeles and Atlanta – have distributed down payment-assistance grants ranging from $15,000 to $30,000 per homebuyer, depending on the housing market.

    “Results achieved through LIFT programs are a testament to the extraordinary collaboration with cities and nonprofits to get resources to people who want to achieve the dream of home ownership,” said Jon Campbell, executive vice president and head of Government and Community relations at Wells Fargo. “Wells Fargo will continue to support the revitalization of neighborhoods affected by the housing downturn and assist economic recovery.”

    Since 2012, the NeighborhoodLIFT® and CityLIFT® programs have provided more than $89 million in down-payment assistance to help 5,024 people buy homes.Another $25 million in down payment assistance is currently reserved for homebuyers on their way to purchasing a home and more than $7 million in down-payment assistance is still available for eligible homebuyers to apply for in LIFT program markets.

    “The LIFT programs are the result of an innovative collaboration between NeighborWorks America and Wells Fargo that is an excellent example of a large financial institution leveraging our national infrastructure and the local, on-the-ground organizations in our network to help stabilize communities,” said NeighborWorks America CEO Eileen M. Fitzgerald. “Successful homeownership is about more than just having enough money on hand and qualifying for a mortgage. It’s about knowing how to navigate the home-buying process, what to expect once you become a homeowner and having a trusted advisor to consult when questions come up.”

    NeighborWorks data indicates about two-thirds of LIFT program homebuyers earn 80 percent or less of the area median income and the program is helping to improve local neighborhoods by turning unsold houses into owner occupied homes.

    LIFT participants must meet certain financial criteria, including earning annual income not exceeding 120 percent of the median for the area and completing homebuyer-education training administered by HUD-approved housing counselors such as those at NeighborWorks organizations. Mortgages available through the program are offered by a variety of lenders, and the down-payment grants are funded by Wells Fargo and administered by NeighborWorks organizations. NeighborWorks America supports a network of more than 235 nonprofits, located in every state, the District of Columbia and Puerto Rico.

    Since the inception of the LIFT programs, more than 20,000 potential home buyers have attended homebuyer education events in the following cities: Los Angeles; Atlanta; Phoenix; Las Vegas; Houston; Miami; Tampa; Orlando; Jacksonville; Minneapolis/St. Paul; Philadelphia; Washington, DC; Chicago; Sacramento; Oakland;Baltimore; New York City/New Jersey; the Inland Empire, CA; Cleveland; Memphis, Charlotte; and Portland, Ore. Overall, more than 5,000 people have signed up for homeownership education and counseling through LIFT, putting them closer to their goals of homeownership.

    For more information about LIFT programs, go to www.neighborhoodlift.com. For more information about NeighborWorks America, go to www.nw.org.

    NeighborWorks America Survey on Homebuyer Attitudes
    The milestone announcement comes as a new survey covering housing attitudes from NeighborWorks America found that 88 percent of adults living in the United States still rank owning their own home as an important element of what they define as “the American dream.” The survey also found that 75 percent of people say the home-buying process is complicated, including 86 percent of respondents under 30 years old.

    Research conducted for NeighborWorks America also has found that homeowners who receive the organization’s pre-purchase housing counseling are about one-third less likely to become seriously delinquent on their mortgages within two years. Additionally, nearly two-thirds of LIFT participants report that the homebuyer education they received will help them manage their finances and stay in their homes. Widmeyer Communications, A Finn Partners Company conducted a national telephone survey among 1,000 U.S. adults using a random digit dial (RDD sample). The survey has a margin of error of +/- 3.1 percentage points.

    About NeighborhoodLIFT®
    The NeighborhoodLIFT® program is collaboration between Wells Fargo Bank N.A., the Wells Fargo Foundation, NeighborWorks America, and local NeighborWorks organizations. The NeighborhoodLIFT® program is designed to promote sustainable homeownership in cities affected by the housing crisis. A video about the NeighborhoodLIFT program is posted at www.youtube.com/wellsfargo.

    About CityLIFT®
    The CityLIFT® program, modeled after the highly successful NeighborhoodLIFT® program, is designed to provide down-payment assistance and homebuyer-education programs in areas most impacted by the financial crisis. The program was developed in connection with the 2012 settlement with the U.S. Department of Justice, and is collaboration between Wells Fargo Bank N.A. and NeighborWorks America.

    About NeighborWorks America
    For 35 years, NeighborWorks America has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals.

    About Wells Fargo
    Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blog.wellsfargo.com. In 2012, the Company invested $315.8 million in grants to 19,500 nonprofits, and team members contributed more than 1.5 million volunteer hours around the country. For more information, please visit: www.wellsfargo.com/about/csr.


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    Black and Latino Wealth Plummets as Homeownership Rate Drops to Record Lows, According to New Report


    - Seven Years After Start of Great Recession, Households of Color Face Staggering Economic Losses To be released at 9/19/13 Congressional Black Caucus Foundation Conference in Washington DC View at: http://issuu.com/jhcarr/docs/state_of_housing_in_black_america -

    Washington, DC – As the United States continues its recovery from the Great Recession, a new report finds that millions of African American and Latino families are facing increased financial instability due to the massive loss of wealth and assets within the housing market. The report, “The State of Housing in Black America,” was published today by the National Association of Real Estate Brokers (NAREB) and will be featured on a panel at the Congressional Black Congress Foundation Conference in Washington, DC. (More information below)

    “The State of Housing in Black America” examines the worsening racial economic disparity gap since the financial crisis and onset of the Great Recession in 2007, describing how African Americans and Latinos have become more cut off from the housing market and home finance system while also losing significant employment ground. Says Jim Carr, the report’s lead coauthor, “this study highlights that the economic losses experienced by African-Americans as a result of the foreclosure crisis and downturn in the economy were substantial and that neither the current economic rebound nor housing recovery are benefiting substantially the black community.”

    The authors outline how African Americans and Latinos, who were targets for unregulated, high cost and unsustainable subprime loans during the bubble, face significant challenges today as they try to obtain home financing. The report also underscores the severe deficiency in affordable rental housing.

    “The State of Housing in Black America” shows some disturbing trends in America’s housing market, including:

    • Homeownership rates for African Americans have dropped from a high of just under 50 percent in 2004 to just above 43 percent today.

    • From 2005 to 2009, African American and Latino households lost 53 percent and 66 percent of their net worth, respectively, while non-Hispanic White households lost just 16 percent.

    • African Americans and Latinos are greater than 70 percent more likely to have been foreclosed upon, even when controlling for income. African Americans have 7.8 percent of mortgage originations, but 11.6 percent of completed foreclosures.

    • The private housing market, backed by Fannie Mae and Freddie Mac, is effectively closed to people of color as credit score and down payment requirements have risen substantially. More than half of all home loans to African Americans and Latinos occur via the Federal Housing Administration (FHA).

    • Overall, there is a lack of affordable rental homes in the US: 35 percent of American households--or 41 million people-- are renters of homes. 50 percent of renters pay more than 30 percent of their income to rent.

    • The current African American unemployment rate, at more than 13 percent, is more twice as high as the rate of unemployment for non-Hispanic whites.

      The report offers several key areas of reform:
      While people of color will represent 7 of 10 new household formations in the coming decade, the national housing policy debate ignores economic challenges facing Black and Hispanic Americans. The report makes the following recommendations:

    • Re-engineer the housing finance system in a manner that makes providing affordable mortgage credit its principal goal.

    • Ensure that an adequate supply of credit for rental housing is available.

    • Establish a Housing and Community Infrastructure Bank to jump start investment, particularly in communities that have been hardest hit by the foreclosure crisis and economic downturn to rebuild neighborhoods, create jobs and stimulate the economy.

    Carr notes that “failure to comprehensively address both the housing and community challenges resulting from the loss of homes and jobs may leave African Americans struggling to recover for a decade or longer.”

    The report also addresses new home finance legislation in the Senate--the Corker-Warner Bill--and underscores that, while it has a number of positive attributes, the provision of affordable mortgage financing is not its principal goal and as such, substantial revision of that legislation should be made prior to its passage. An alternative bill currently in the House, proposed by Rep. Hensarling, would completely eliminate the federal housing finance system as it exists today and result in even more limited access to housing finance for Black and Latino families.

    “Failure by Congress to act immediately to restructure the housing finance system will not result in the status quo because the Federal Housing Finance Agency is already pursuing its own vision of housing finance reform that could further decrease access to affordable home loans by historically underserved borrowers,” says Carr. "Home prices and interest rates are rising and the opportunity to access affordable homeownership is slowly vanishing in many communities.”

    ####


    More about the Authors:
    James H. Carr (The Opportunity Agenda, New York, NY)
    Katrin Anacker (Assistant Professor at George Mason University, Arlington, VA)
    Ines Hernandez (Civica Consulting, Miami, FL)

    More about the report sponsors:
    Julius Cartwright (Commissioner/President of NAREB, Lanham, MD)
    C. Renee Wilson (NAREB Appendix Coordinator, Lanham, MD)
    State of Housing In Black America Advisory Board
    More information about CBCF Event and Release
    The Congressional Black Caucus Foundation will hold its 43rd Annual Legislative Conference from September 18-21, 2013, at the Walter E. Washington Convention Center (801 Mt Vernon Pl NW, Washington, DC 20001)


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    BlackRefer.com does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to BlackRefer.com belong to them alone and do not necessarily reflect the views of BlackRefer.com.



    The Opportunity Agenda Offers Final Comments and Suggestions on Fair Housing Regulations


    - Leading Advocate for Fair Housing Encourages HUD to Adopt New Rule Expanding Access to Affordable Homes -

    Washington, DC – Following the end of a public comment period today on a new rule proposed by the U.S. Department of Housing and Urban Development (HUD) entitled “Affirmatively Furthering Fair Housing”, Alan Jenkins, Executive Director of The Opportunity Agenda, made the following statement:

    “The Opportunity Agenda applauds HUD’s efforts to expand opportunity by improving access to safe and affordable homes. This new rule is an important step in the long process of toppling the barriers that prevent millions of Americans from unbiased and fair treatment in any neighborhood.

    "The proposed regulation makes clear that states, cities, towns, and counties who seek federal taxpayer funds for housing or community development initiatives must proactively foster fair housing practices. But the proposed rule is not perfect. It lacks clear accountability and enforcement measures and should provide greater clarity to federal fund recipients regarding the progress needed to fulfill their responsibilities.

    “Even still, the Affirmatively Furthering Fair Housing mandate has the potential to impact communities over time by redressing our nation’s troubling legacy of housing discrimination and residential segregation. We all win, and our economy grows, when housing is open and a available to all.”

    The view the 600+ comments submitted to HUD, click here.

    ###


    About Alan Jenkins:
    Alan Jenkins is Executive Director of The Opportunity Agenda, a communications, research, and policy organization dedicated to building the national will to expand opportunity in America. Before joining The Opportunity Agenda, Alan was Director of HumanRights at the Ford Foundation, managing grant making in the United States and eleven overseas regions. Previously, he served as Assistant to the Solicitor General at the U.S. Department of Justice, where he represented the United States government in constitutional and other litigation before the U.S. Supreme Court. Prior to that, he was Associate Counsel to the NAACP Legal Defense and Educational Fund, Inc., where he defended the rights of low-income communities facing exploitation and discrimination.

    About The Opportunity Agenda:
    The Opportunity Agenda is a national organization that conducts research on media and public opinion in order to understand how to build public support for policies that improve peoples’ lives. Their programs focus on racial equity and African-American men and boys, as well as immigration, economic opportunity, reproductive health and rights.

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    New Report Finds Continuing Foreclosure Crisis Led to $192.6 Billion in Lost Wealth in 2012; Households in Communities of Color Hardest Hit


    - With 13.2 million homes still underwater, principal reduction could save underwater homeowners an average of $7,710 a year and boost U.S. economy by over $100 billion -

    Seattle, WA – The foreclosure crisis continued to destroy wealth on a large scale across the U.S. in 2012, with $192.6 billion in lost wealth, an average of $1,679 per household, nationwide. The most devastating impacts were felt in communities of color: in zip codes with majorities of people of color, average lost wealth per household was $2,198, over 1.7 times the average lost wealth of $1,267 in segregated white zip codes.

    These are among the key findings of a landmark study, “Wasted Wealth: The Foreclosure Epidemic, a Generational Crisis for Communities of Color,” released today by the Alliance for a Just Society, Home Defenders League, and The New Bottom Line. Wasted Wealth analyzes 2012 foreclosure data to calculate lost wealth, examines the ongoing threat of foreclosures-in-waiting, and explores the economic impacts of principal reduction.

    “While the impacts of the housing crisis have been felt broadly across communities and across the country, these data shows that there’s a clear racial dimension to the foreclosure crisis: households in communities of color are the hardest hit,” said report co-author Jill Reese, Associate Director of the Alliance for a Just Society.

    The full report, including national numbers, data for all 50 states, and special breakouts for 19 cities, is available here: http://bit.ly/wastedwealthreport

    “It’s as if my life, security for my family, a roof over our heads, is a game to the banks,” says homeowner Grace Alexander of Newark, NJ. “There are four generations of us living under that roof and our impending homelessness is not a game to us.”

    Homeowners like Grace Alexander have worked with Home Defenders League and New Bottom Line coalitions nationwide, to push Congress and the Administration to move on principal reduction.

    In addition to wealth already lost in communities like Harris’, the report found there were 13.2 million underwater mortgages still on the books in 2012 and another $221 billion in wealth at stake if a share of these mortgages go into foreclosure.

    “The solution to the continuing foreclosure crisis is clear: we need principal reduction, and we need it now,” says Tracy Van Slyke, Director of the New Bottom Line. “President Obama's nomination of Rep. Mel Watt as the new director of the Federal Housing Finance Agency is a step in the right direction. It's time for Congress to confirm this nomination immediately in order to support homeowners now, strengthen communities and get our economy back on track.”

    Key findings from the report include:

    *  The foreclosure crisis continued to destroy wealth on a large scale in 2012: $192.6 billion in wealth was lost due to foreclosures across the U.S. in 2012, an average of $1,679 in lost wealth per household.

    *  Foreclosures had a disproportionate impact on communities with above average populations of people of color: In zip codes with proportions of people of color above the national average of 16%, average lost wealth per household was $2,008.

    *  The most devastating impacts of the ongoing foreclosure crisis were in majority people of color communities: Zip codes with majority people of color populations saw an average of $2,198 in lost wealth per household, over 1.7 times the average lost wealth in segregated white zip codes.

    *  More than 13 million homes are still underwater and at risk of foreclosure and more lost wealth: For reporting zip codes, there are at least 13.2 million underwater mortgages. If action is not taken to prevent a share of these mortgages from going into foreclosure, Americans stand to lose nearly $221 billion in additional wealth.

    *  A strategy of principal reduction would save money for homeowners, boost the economy, and create jobs: A principal reduction program could produce average annual savings of $7,710 per underwater homeowner, boost the U.S. economy to the tune of $101.7 billion, and create 1.5 million jobs.

    Read the full report: wastedwealthreport.com/download

    The New Bottom Line is a national campaign fueled by a coalition of community organizations, congregations, labor unions, and individuals working together to build a movement that challenges established big bank interests on behalf of struggling and middle-class communities.

    The Home Defenders League is a national movement of underwater homeowners and our allies fighting Wall Street to get back what Wall Street stole from us and for a stronger economy for all of us.

    The Alliance for a Just Society is a national coalition of state-based grassroots community organizations that address economic, racial, and social inequities to advance economic justice and generate increased power and sustain social change.

    Contacts:
    Alliance for a Just Society: Rahul Gupta, (206) 419-9599, rahul@allianceforajustsociety.org
    Home Defender’s League & New Bottom Line: Nick Sifuentes, (310) 866-1692, nick@berlinrosen.com

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    FROM BRIAN KETTENRING, CAMPAIGN FOR A FAIR SETTLEMENT:


    Below is a statement for attribution from Brian Kettenring, National Coordinator of the Campaign for a Fair Settlement. CFS is the lead watchdog group monitoring the National Mortgage Settlement, which was executed one year ago tomorrow, February 9, 2012. Our statement:

    Tomorrow is one-year since 49 states agreed to a $25b settlement with the big banks to help compensate for their role in causing the housing crisis. The National Mortgage Settlement was supposed to help people stay in their homes. But one year later we have yet to see a full accounting of how the money has been spent, states are diverting large portions of the funds to meet their deficits instead of helping homeowners, and the hardest hit – particularly communities of color – are not seeing relief. Short sales and dual tracking continue, and the banks themselves are spending more to move people out of their homes than to keep people in them. The bottom line: a settlement that promised justice and relief for homeowners has instead continued business as usual for mortgage servicers and financial institutions.

    As the President begins his second term, the Obama Administration needs to move swiftly to ensure real Wall Street accountability and oversight, as promised. This week's S & P case, and yesterday's news about JPM show that there are still cases to be brought and justice to be won for homeowners and taxpayers. We expect the President and the Department of Justice to be on our side, and pursue these cases aggressively.

    Contact Info
    nick@berlinrosen.com

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    (BPRW) Wells Fargo Announces Settlement with U.S. Department of Justice Regarding Mortgages


    - • Reaffirms Commitment to Fair and Responsible Lending • Plans to Discontinue Funding Mortgages that are Originated, Priced and Sold by Independent Brokers • Announces Agreement with City of Baltimore Dismissing Litigation and Launching Program to Support Local Housing Recovery -

    (BLACK PR WIRE) – SAN FRANCISCO – July 12, 2012 – Wells Fargo & Company (NYSE:WFC) announced today a definitive settlement agreement between Wells Fargo Bank, N.A. and the U.S. Department of Justice (DOJ) that resolves the DOJ’s previously disclosed claims that some Wells Fargo mortgages may have had a disparate impact on some African-American and Hispanic borrowers.

    The DOJ claims are based on a statistical survey of Wells Fargo Home Mortgage loans between 2004 and 2009, and the claims primarily relate to mortgages priced and sold to consumers by independent mortgage brokers. While Wells Fargo denies the claims, the company has agreed to pay $125 million to borrowers that the DOJ believes were adversely impacted by mortgages priced and sold by independent mortgage brokers through its Wholesale channel.

    Department of Justice Regarding Mortgages
    Wells Fargo is settling this matter solely for the purpose of avoiding contested litigation with the DOJ, and to instead devote its resources to continuing to provide fair credit services and choices to eligible consumers, and important and meaningful assistance to borrowers in distressed U.S. real estate markets.

    This settlement also resolves pending litigation filed in 2009 by the State of Illinois on behalf of borrowers there, and resolves an investigative complaint filed in 2010 by the Pennsylvania Human Relations Commission.

    While not part of the DOJ settlement, Wells Fargo, on its own volition, also announced today that on July 13 it will discontinue funding mortgages that are originated, priced and sold by independent mortgage brokers through its mortgage Wholesale channel. Mortgages sold by independent brokers in this manner currently represent five percent of the Company’s home mortgage funded volume. Mortgage brokers operate as independent businesses and are not employed by Wells Fargo. Therefore, Wells Fargo cannot set loan prices for independent mortgage brokers nor control the combined effect of the negotiations that thousands of these independent mortgage brokers conduct with their customers. After July 13, 2012, the Company will no longer accept new applications for loans originated by independent mortgage brokers through its Wholesale channel, but will work to ensure existing applications are processed and closed.

    “Wells Fargo is settling this matter because we believe it is in the best interest of our team members, customers, communities and investors to avoid a long and costly legal fight, and to instead devote our resources to continuing to contribute to the country’s housing recovery,” said Mike Heid, president of Wells Fargo Home Mortgage. “Wells Fargo takes pride in serving the home ownership needs of all of our customers, and we are fully committed to fair and responsible lending. Through our separate decision to no longer fund mortgages through independent mortgage brokers, we can control how that commitment is met on every mortgage that Wells Fargo makes.”

    The Company stopped making subprime loans through independent mortgage brokers in 2007 and stopped all subprime home lending in 2008. During the period in which Wells Fargo originated subprime loans, the Company implemented industry-leading procedures to identify applicants who might be eligible for a prime-rate product. In keeping with Wells Fargo's commitment to strong fair and responsible lending controls, the Company has agreed with the DOJ to undertake an internal lending compliance review of a small percentage of subprime mortgages delivered through its Retail channel during the period of 2004 to 2008 and will rebate as appropriate.

    Working with the DOJ, the Company also will provide a total of $50 million to community improvement programs in the City of Baltimore and in certain areas within seven metropolitan statistical areas identified by the DOJ as being most in need of support to recover from the housing crisis: Washington-Arlington-Alexandria, DC-VA-MD-WV; Chicago-Naperville-Joliet, IL-IN-WI; Philadelphia-Camden-Wilmington, PA-NJ-DE-MD; San Francisco-Oakland-Fremont, CA; New York-Northern New Jersey-Long Island, NY-NJ-PA; Cleveland-Elyria-Mentor, OH; and Riverside-San Bernardino-Ontario, CA. This program will be modeled after Wells Fargo’s successful NeighborhoodLIFTSM program, launched earlier this year.

    The Company separately is entering into a collaborative agreement with the City of Baltimore in which the city will dismiss the lawsuit it initially filed against Wells Fargo in January 2008. In keeping with the Company’s commitment to continue lending in Baltimore and to supporting the area’s financial recovery, Wells Fargo will provide $4.5 million of the $50 million for community improvement programs to the City of Baltimore, and will grant the City of Baltimore $3 million in additional funds for local priority housing and foreclosure-related initiatives. Wells Fargo also has set a five-year home-mortgage lending goal for the Baltimore area.

    “Our commitment to our customers and to turning the housing market around is stronger than ever,” Heid added. “We will continue to offer education and meaningful choices through our Retail and Correspondent mortgage lending operations, including an important emphasis on providing assistance to communities affected most by the economic downturn.”

    Customers can find more information about Wells Fargo’s commitment to fair and responsible lending practices at www.wellsfargo.com/fairlending.

    About Wells Fargo
    Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

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  26. Majestic Home Improvement ...
    A Home Improvement Company Specializing in Tile and Stone. We do Custom Showers, Fireplaces, Countertops, flooring, Handi-capped showers, and much more. Virginia Beach.

  27. Mortgage Calculator & Financial Calculators...
    This resource features over 100 financial calculators. Try one of the 20 most common mortgage calculators below (or add them directly to your website), or scroll down to browse through the rest of the calculators by category. Student Calculators included.

  28. Mortgage Loan Calculator...
    This Finance and Loan Calculator website is a comprehensive source of free online loan, retirement, business and other finance calculators.

  29. Palatin Remodeling, Inc. ...
    Palatin Remodeling was founded by Gil Palatin with the goal of transforming Southern California houses into the dream homes their residents have always imagined.

  30. Prudential Georgia Real Estate- TheRteam...
    Providing user friendly real estate assistance for peachtree city, tyrone, fayetteville, newnan, sharpsburg, senoia, fayette and coweta county, Ga. Please email or call for a free relocation package.

  31. Red Carpet Keim Will Cooperate...
    We sell homes which are afordable in a great community which has business development potential. We also do seminars and consulting on "how to buy a home". We are located in Michigan in the suburb of Inkster.

  32. Reduce Taxes for Commercial Property Owners - Cost Segregation...
    Reduce Taxes for Commercial Property Owners accelerating property depreciation. Potentially worth Hundreds of Thousands of Dollars -- using IRS-sanctioned process (on books since 1997).

  33. Sophia C. Ojukwu, MBA...
    Your Success is Our Mission. "Our commitment to excellence and superior customer service is helping homeowners realize the American Dream every day. We can help you too."

  34. Stop Foreclosure Keep Your Home...
    Stop the Bank Foreclosure Fast. We have methods to stop foreclosure and help YOU KEEP your home.

  35. St Petersburg Tampa, Clearwater FL Real Estate ...
    Comprehensive resource for Real Estate in the Tampa Bay FL Region. Short Sale, Foreclosure & Expert REO advice. Category Floridia Real Estate

  36. The Color of Money...
    Text of The Color of Money, 1989 recipient of the Pulitzer Prize in investigative reporting, a series of articles by Bill Dedman in The Atlanta Journal-Constitution on racial discrimination in mortgage lending.

  37. The Harris Company, REA/C ...
    A Full Service Real Estate Appraiser and Consultant.

  38. Vacation 2 Florida...
    Executive 2 story homes, 3 Bedrooms, 2.5 baths, located at Highlands Reserve Golf and Country Club in Davenport, Florida.

  39. Your Charlotte North Carolina Real Estate Source ...
    Homes for Sale in the Charlotte NC---Charlotte Real Estate Broker with more than 15 years of service to the Charlotte real estate community. Charlotte, NC.


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