Joseph Smith, the monitor of a controversial government settlement with the five largest banks last year, said he was lucky to survive Wednesday meetings with homeowner advocates who feel let down by the deal, which was meant to end past foreclosure abuses.
The former North Carolina banking commissioner admitted to real concerns with the $25 billion agreement struck between 49 state attorneys general, the Justice Department and the Housing and Urban Development Department, and asked advocates at the meeting — hosted by the National Council of La Raza — to help him keep track of which mortgage servicers aren’t living up to their end of the bargain.
This February marks the one-year anniversary of the $25 billion national mortgage settlement made with the nation’s five largest mortgage servicers: Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial. Since then, the banks have barreled through their obligations at a rapid clip, leaving us with some concerns.
To explore the settlement’s progress, the Alliance for Stabilizing Our Communities, a partnership between the National Council of La Raza, the National Urban League, and the National Coalition for Asian Pacific American Community Development, hosted a summit featuring Joseph A. Smith Jr., an independent monitor of the national mortgage settlement.
Civil rights groups and housing counselors sharply criticized the top five mortgage servicers Wednesday and vowed to force their executives to publicly disclose which consumers are benefitting from the $25 billion national mortgage settlement.
At a forum in Washington, housing counselors called the settlement "disastrous," and grilled its monitor, Joseph A. Smith, on why the banks are not disclosing data on race, ethnicity and geography that would show whether black and Hispanic communities hit hardest by the foreclosures crisis are getting the bulk of consumer relief.
The Chinese American Service League (CASL) and the Philadelphia Chinatown Development Corporation (PCDC), both Home for Good partnering organizations, werwe featured in local media in the past week few weeks.
Asian American & Pacific Islander Heritage Month, our Commitment to Culture
Southwest Airlines is committed to serving the Asian community. As a Company that embraces our unique Culture, we also know the importance of recognizing our Employee and Customers’ history and backgrounds. In celebration of Asian American & Pacific Islander Heritage Month in May, we were excited to sponsor and participate in a range of national events. We participated in the first national youth leadership summit put on by South Asian Americans Leading Together (SAALT), and the National Coalition for Asian Pacific American Community Development’s inaugural Native Hawaiian & Pacific Islander National Convening, to name a few. To learn more about our efforts in the Asian community, please visit: http://www.southwest.com/citizenship and click on “Our Diversity & Inclusion”.
PolicyLink is proud to work with CAPACD and Lisa and we think more people should be aware of the incredible work they do to address the issues of housing and community and economic development needs of the diverse and growing Asian American and Pacific Islander (AAPI) communities around the country.
Our America’s Tomorrow video series was designed to bring you some of the leaders out there who are tackling our most pressing issues in thoughtful and practical ways. If you are not yet aware of this dynamic woman and the agency she leads, then our interview will help you. We encourage you to reach out to Lisa as a resource. If you know Lisa and CAPACD, then this will be a reminder for you of how vital the work she and CAPACD does on a daily basis.
Coverage of the Congressional Asian Pacific American Caucus (CAPAC)'s APA Heritage Month Celebration on Capitol Hill, from the Saigon Broadcast Television Network (SBTN). Representatives of National CAPACD member organizations attended this event during the the 2012 National CAPACD Housing and Community Development Policy Forum in Washington, DC.
Included in this coverage are interviews with Nam Pham of VietAid (Boston) and Janelle Chan of the Asian Community Development Corporation (Boston). Please click here to view the video.