New York Visiting with my Dad yesterday afternoon in New Orleans he asked me if I had seen his comment on one of my recent blogs about the subprime disasters. I had not. He directed me to a small article and a box chart in USA Today that he had read because it had been …
Category: Financial Justice
Automatic Mods
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 …
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 …