Mortgage

David L. Horne, Ph.D.  |   OW Contributing Columnist
Feb 16 2012

Practical Politics

Kudos to state Attorney General Kamala Harris. She was a real champion for California homeowners this time around. She hung tough, played her cards well and walked off with the biggest slice of the monetary pie for Californians in the recently completed foreclosure mortgage deal struck between the Obama administration and the banking industry. She took the path less traveled, held out for a quantifiable, enforceable deal until the end—and got it.

Jul 18 2011

RBS Securities

LOS ANGELES, Calif.—The National Credit Union Administration filed suit today in Los Angeles, seeking $685 million in damages from RBS Securities for mortgage-backed securities it sold to the failed San Dimas-based Western Corporate Federal Credit Union.

It is the third lawsuit filed by the government agency stemming from the collapse of five corporate credit unions and the second against RBS, a unit of the Royal Bank of Scotland. The agency indicated it plans to file between five and 10 lawsuits.

Dec 20 2010

World Savings Bank, Wachovia Bank

LOS ANGELES, Calif.—Wells Fargo will provide loan changes worth more than $2 billion to thousands of California homeowners and provide an additional $32 million to thousands of borrowers who lost their homes through foreclosure, the state Attorney General's Office announced today.

None of the loans were made by Wells Fargo. All were originated by World Savings and Wachovia —both banks that Wells Fargo acquired, according to the Attorney General's office.

Joseph Wright  |   OW Senior Staff Writer
Aug 26 2010

Groups want banks held accountable

Federal financial regulators recently held the final meeting about the Community Reinvestment Act (CRA) in downtown Los Angeles. It culminated the first public opportunity to assess reforms left out of the recent financial reform legislation passed by Congress.

Across Black America

Here’s a look at African American people and issues making headlines throughout the country.

California
San Diego college students and volunteers will carry out their sixth home restoration project on Wednesday, July 10 through Sunday, July 14. as part of the “Healing our Heroes’ Homes” (H3) program created by the nonprofit Embrace. The five-day effort will take place at the home of medically retired Marine Corps Capt. Sarah Bettencourt. Bettencourt served with many different units across the country during the Global War on Terrorism and developed a rare neurological disorder in 2008. With a focus to restore the homes of disabled veteran homeowners, H3 falls in line with Embrace’s mission to mobilize college-student volunteers and community members to serve less fortunate members of civilian and veteran communities. The project for the Bettencourts’ home includes kitchen and bathroom remodeling, building ADA-compliant disability ramps, widening their driveway to ADA standards, widening doorways and landscaping.
 
District of Columbia
The 2013 Smithsonian Folklife Festival will showcase its five-year community research project on African American identity with the program “The Will to Adorn: African American Diversity, Style, and Identity.” This multicity collaboration examines the history and culture of the aesthetics of African Americans. The festival will be held June 26-30 and July 3-7, outdoors on the National Mall between Seventh and 14th streets. “Whether we realize it or not, we are all dress artists. The way we compose our look is a creative expression of our ideas about who we are and who we aspire to be,” said Diana N’Diaye, program curator. “This program explores the diversity of African American traditions of style, but also teaches young people the importance of documenting their own culture and saving that information for themselves and future generations.”