The Office of the Comptroller of the Currency is the Federal agency responsible for the regulation and supervision of nationally registered financial institutions as well as national branches of international banks.1 As such, it was the regulatory agency most directly responsible for oversight (or lack of) of the largest mortgage lending and servicing companies and related financial agencies involved in the ongoing modification and foreclosure crisis. In late 2010, investigations by the OCC and other state and Federal agencies revealed numerous “unsafe and unsound” practices in the handling of home mortgage modifications and foreclosures. In the spring of 2011, the OCC instituted enforcement actions against 14 of these companies in the form of Consent Orders.2 In the most part, these orders essentially directed the companies to cease and desist these practices with the parties agreement without acknowledging guilt.

One of the key features of these orders was the establishment of Independent Foreclosure Review board by each company to determine if home owners in foreclosure in 2009 and 2010 of their occupied, primary residence had suffered damages from these practices and might be entitled to some type of compensation. All potential claimants were to be notified by mail or publication of their option to file for an Independent Foreclosure Review by the consultant firms hired by the mortgage firms. Homeowners needed to fill out and returns the mailed forms or forms available on the website 3 in order to request a review. The boards would then review the request for qualification and if deemed appropriate, subsequent review. The deadline for applying for this review has been extended several times with the most recent extension setting the deadline as September 30.

The OCC recently released an update on the program’s progress so far4 and a remediation framework to be used as the basis for remediation and compensation for victims of the proscribed practices 5. Although over 4 million households were sent notices, fewer than 194,000 requested review. The consultants have selected another about 145 thousand additional files for review. Overall, less than 9% of possible claimants are being reviewed for relief. Although the guidelines recommend only a thousand dollars or more in compensation for some errors and injuries, compensation for other actions include “rescind foreclosure where possible” and “If recission is not possible; pay $125,000 plus equity, …”

In summation, eligible households who have not applied for whatever reason may wish to reconsider. “You don’t ask, you don’t get”.6

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1. http://www.occ.treas.gov
2. http://www.occ.treas.gov/topics/consumer-protection/foreclosure-prevention/correcting-foreclosure-practices.html
3. https://independentforeclosurereview.com/
4. http://www.occ.gov/news-issuances/news-releases/2012/2012-95a.pdf
5. http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20120621b2.pdf
6. Lenore Reinhard, mother-in-law, daily

See the video below:

Click here to view the embedded video.

We’ll have more information posted here in the coming days about this successful event, future screenings of the film, “Let’s Lose Our House: A Modern Foreclosure Tale”, and other ways for people to get involved in fighting the fraudulent foreclosures sweeping our communities.

For now, enjoy this photo montage from March 14 courtesy GSO Bear:

Click here to view the embedded video.

Contact: Nathan Pius, npius20@gmail.com, 732-570-8847

“Save Our Community: Fight Foreclosure!” – Movie Premiere at Carolina Theater

“Let’s Lose Our House: A Modern Foreclosure Tale”

Film Stars, Robots, Crowds and a Red Carpet

Jeff Thigpen will address attendees at the premiere of our locally produced film: “Let’s Lose Our House: A Modern Foreclosure Tale” at the Carolina Theater at 7:00 P.M. Wednesday March 14, 2012.

The Guilford County Register of Deeds announced today he is suing several banks, including Bank of America and Wells Fargo, alleging thousands of mortgage documents filed in the county were fraudulent. Thigpen said the fraudulent documents make it difficult, if not impossible, for his office to track who actually owns the property.

Over the last two years Thigpen has become a national figure in calling attention to document forgery, robo-signing, and other types of mortgage fraud by major banks. His office conducted a study of 6,100 mortgage documents here in Guilford County and discovered that 74 percent, about 4,500 transactions, or a stack of paper two feet high, had problems involving forged signatures and fraudulent documents. His research into robo-signing has been cited in a number of pending court cases as well as in the Associated Press, Business Week, and other national publications.

In appreciation of his efforts on behalf of illegally foreclosed homeowners and Guilford County residents, Thigpen will receive autographs from the film’s robotic “Robo-Signers” who will make a special appearance at the premiere.

SCHEDULE OF ACTIVITIES

• 5:30 – 6:15: Dinner at the Interactive Resource Center. Provided by Unity in Greensboro Church
• 6:15 – 6:30: Photo Op: Marchers assemble at IRC, including Cakalak Thunder
• 6:30 – 6:45: Photo Op: March comes down Washington, turns left on Greene
• 6:45 – 7:00: Interviews: Early birds arrive
• 7:00 – 7:05: Photo Op: Paparazzi/Limo arrival
• 7:15 – 7:22: Real Foreclosure Story. Ricky and Patricia video
• 7:24 – 7:47: Screen the movie
• 7:50 – 7:53: Intro Jeff Thigpen
• 7:53 – 8:03: Featured Speaker: Jeff Thigpen
• 8:03 – 8:05: Robots give Jeff autographs, and …
• 8:30 – 8:45: Interviews: Q&A (in lobby or auditorium, depending on size of crowd.)

Contact: Nathan Pius, npius20@gmail.com, 732-570-8847

Movie Premiere at Carolina Theater

“Let’s Lose Our House: A Modern Foreclosure Tale”

Film Stars, Robots, Crowds and a Red Carpet

SCHEDULE OF ACTIVITIES

• 5:30 – 6:15: Dinner at the IRC. Provided by Unity in Greensboro
• 6:15 – 6:30: Photo Op: Marchers assemble at IRC, including Cakalak Thunder
• 6:30 – 6:45: Photo Op: March comes down Washington, turns left on Greene
• 6:45 – 7:00: Interviews: Early birds arrive
• 7:00 – 7:05: Photo Op: Paparazzi/Limo arrival
• 7:15 – 7:22: Real Foreclosure Story. Ricky and Patricia video
• 7:24 – 7:47: Screen the movie
• 7:50 – 7:53: Intro Jeff Thigpen
• 7:53 – 8:03: Featured Speaker: Jeff Thigpen
• 8:03 – 8:05: Robots give Jeff autographs, and …
• 8:30 – 8:45: Interviews: Q&A (in lobby or auditorium, depending on size of crowd.)

On March 14 Fight Foreclosure Takes Flight!

For Immediate Release

Contact: Nathan Pius, npius20@gmail.com

March to the Red Carpet

“Save Our Community: Fight Foreclosure!”
Movie Premiere at Carolina Theater

“Let’s Lose Our House: A Modern Foreclosure Tale”
March, Film Stars, Robots, Crowds and a Red Carpet

A cross-town march is planned from the Interactive Resource Center (IRC) to the Carolina Theater. Marchers will assemble at IRC, 407 East Washington Street, at 6:15 P.M. following a free soup supper and proceed to the Carolina Theater, 310 South Greene Street. Local marching band Cakalak Thunder will provide a back-beat to the parade, as marchers move down Washington Street to Greene Street. The procession will reach the Carolina Theater just in time to welcome the “stars” of “Let’s Lose Our House: A Modern Foreclosure Tale” at their Red Carpet arrival.

The list of participating organizations for this major event is growing with IRC, Guilford Home Ownership Center, Greensboro Housing Coalition, YWCA, American Friends Service Committee, North Carolina Justice Center, Unity in Greensboro Church and MoveOn.org turning out members to watch the movie and listen to Jeff Thigpen, Guilford County Register of Deeds, speak about fraudulent foreclosures.

Tables will be set up in the theater lobby for attendees to speak directly with experts on hand to advise them about fighting fraudulent foreclosure procedures and available resources to help them keep their homes.

In appreciation of his efforts on behalf of illegally foreclosed homeowners, Thigpen will receive autographs from the film’s robotic “Robo-Signers” who will make a special appearance at the premiere.

This is a major civic direct action event in Greensboro so plan your coverage now.

Updates posted to: http://occupyforeclosure.org

Marchers will assemble at 407 East Washington Street at 6:15 P.M. and proceed to the Carolina Theater, 310 South Greene St. Red Carpet arrival event is scheduled for 6:45 P.M.

Ms. Christine Frazer, a 62 yr old widow, along with four generations of the Frazer family are being threatened with eviction from the place they have called home since 1994. Mrs. Frazer refinanced her home in 2001; but after losing her husband in 2002, taking in her elderly mother in 2003, losing her job in 2009 due to a “no-fault, one-minute-late tardy policy,” and being denied unemployment after two appeals, she was left with no way to pay her mortgage.

Click here to view the embedded video.

The very same crumbling economy that caused the value of Chris’ home to depreciate left her hopeless in today’s highly competitive job market. Mrs. Frazer’s home was foreclosed on in October of 2011 after faithfully paying her mortgage for over 15 years! Investors One Corporation sent her a statement claiming she had to pay $176,000 on a house that the very same document stated is only worth $40,000.This foreclosure is wrongful and Occupy Atlanta will assist Ms. Frazer in the fight to expose the fraudulent actions that have taken place. Many other families and individuals across America have fallen victim to these unlawful practices and Occupy Atlanta is fighting against such injustices case by case.

Leila Abadir, of the Occupy movement, stated,

Occupy Atlanta was introduced with the compelling story of four generations of a family being evicted from their home. We are genuinely touched by all families across the U.S being affected by financial hardships caused by the mortgage bubble, those both burdened with insurmountable debts that will forever loom over their heads and those that were robbed of their homes, but this was a particularly touching story due to its many inconsistencies, inconsistencies that could have easily been uncovered and kept this entire family far from the last steps of eviction. Chris’ story represents the story of so many families across America that are being robbed of their security by big banks and investors that continue to profit off the backs of the working class people.

AFSC is excited to support this important, historic work as the Atlanta metro area faces hundreds and thousands of foreclosures this calender year.

Click above to download flyers

PRESS ADVISORY
Contact: Nathan Pius, npius20@gmail.com; 732-570-8847

Free Event: Movie Premier at Carolina Theater

“Let’s Lose Our House: A Modern Foreclosure Tale”

Film Stars, Robots, Crowds and a Red Carpet

Attendees at a free red carpet Premier for the locally-produced social and political action movie, “Let’s Lose Our House: A Modern Foreclosure Tale” scheduled at the Carolina Theater on Wednesday, March 14, will hear remarks from Guilford County Register of Deeds Jeff Thigpen. The web site FireDogLake lauded Thigpen, who has gained national acclaim as an advocate against fraudulent foreclosures, stating: “Thigpen’s investigation was one of the first systematic assessments of mortgage document fraud in the entire country,” and “The man is dedicated to pursuing justice for those who have been wronged by the financial services industry.”

In appreciation of his efforts Thigpen will receive autographs from the film’s robotic “Robo-Signers.” who will make a special appearance at the premier.

“Let’s Lose Our House” is a smart and funny look at the often misunderstood roots of the housing crash. This short film follows the “all American family” from buying their first home to seeing it foreclosed on and shows how banks and the large financial industry destroyed people’s lives through fraudulent practices. Produced by the Foreclosure Working Group of Occupy Greensboro, the event will unite homeowners facing foreclosure with available resources to understand, recognize and dispute fraudulent practices.

This is shaping up to be a huge civic action event in Greensboro so mark your calendars now.

Click here to view the embedded video.

Updates posted to: http://occupyforeclosure.org

This event will be held Wednesday, March 14, 2012 7:00P.M. at the Carolina Theater in Greensboro; 310 South Greene St.

Click here to view the embedded video.

This spring, the 99% is taking on Bank of America. For too long they’ve preyed on us — but now, we’re turning the tables. Instead of letting the bank foreclose on us, we’re going to foreclose on the bank. On February 29th, and March 15, April 15th and May 15th we will move our money, put our bodies on the line and bring their crimes to light. It time to break up the bank and create real alternatives. Come out for the big days of action and share your everyday local actions on the Foreclose The Banks website.

Go to their website for more information, downloadable flyers, posters and more.

“Let’s Lose Our House: A Modern Foreclosure Tale”

Film Stars, Robots, Crowds and a Red Carpet

ForcloseBot 2000

A free red carpet Premier for the locally-produced social and political action movie is scheduled at the Carolina Theater on Wednesday, March 14. Movie “stars” including the robotic “Robo Signers” will make their arrival via special transportation at 7:00pm. Local housing counselors will be on hand in the theater lobby before and after the screening to offer advice, direction and assistance to attendees fighting foreclosure. Experts on foreclosure procedures will address attendees and educate participants on their legal rights and remedies against fraudulent foreclosure practices.

“Let’s Lose Our House” is a smart and funny look at the often misunderstood roots of the housing crash. This short film follows the “all American family” from buying their first home to seeing it foreclosed on and shows how banks and the large financial industry destroyed people’s lives through fraudulent practices. This film was produced by the Foreclosure Working Group of Occupy Greensboro, North Carolina.

Further details will be released as they become available.

This is shaping up to be a huge civic action event in Greensboro so mark your calendars now.

Click here to view the embedded video.

This event will be held Wednesday, March 14, 2012 7:00P.M. at the Carolina Theater in Greensboro; 310 South Greene St.