San Jose In Houston we had an interesting meeting with Larry Litton, Jr., the CEO of Litton Loan Servicing, about the problems everywhere with the subprime market. Litton has been a loud advocate of loan modifications (“mods” in the new world). Tony McElroy, the chair of Texas ACORN and ACORN regional representative, was clear that …
Category: ACORN
Subprime Racial Disparities
Houston Over the last couple of days ACORN has released the data we found by combing through the information provided by banks throughout the country in 172 American cities under the Home Mortgage and Disclosure Act (HMDA). Sobering and shocking! ACORN study shows predatory lending is leading to foreclosures in communities nationwide Communities …
Sub-prime Touts and Barkers
New Orleans As the tsunami of problems coming from the sub-prime meltdowns continue to flood the market, it is worth noting that some small justice, though surely not enough, is finally coming to the touts and barkers for these loans. Even as I say this, it is obvious that not only is it little …