For some time now, I have been called on to name, names. People want me to give the names of the Banks that I see to be the worst offenders of the HAMP and HAFA Rules. I am seriously considering doing just that. But until I decide, I will just tell the stories without names. The Congressman and Treasury know the names of the offenders as do the Banks. They are included in all the letters I send. I believe, it is really better to work together if at all possible, I have not given up hope for co-operation… Naive? Maybe….But I am still praying for a scanner for the Urban League. Now to the open letter. Sent Feb. 14, 2011
Laurie Maggiano, Policy Director U.S. Treasury Department ( Home Retention HAMP / HAFA )
Ladies and Gentleman:
Most philosophical and religious text are themed on doing the right thing. Our leaders inspire us with enduring words that are etched in history, “there is nothing to fear but fear it self” and my favorite of all President quotes “Persistence alone in omnipotent”. Well, here I am, challenging my fear that I am coming to you for help to frequently, but I must be president not only for my clients, but my community. What I am seeing is not right at so many levels and my gut is still screaming at me I have to take action to at least bring this to your attention.
Again I present a case of twin tracking, brought to me by the Urban League , Housing Program Director. In this client’s case, another dimension of impropriety is added, she speaks only Spanish and not one single document has been provided to her in Spanish. To make the point more clear, she could not even write this request for your help. If an over worked Hud Counselor had not see this as wrong, where could she have turned? The loan paperwork that was utilized to obtain the loan, nor a single correspondence related to the loan modification, she has been attempting, was provided to her in Spanish. This is just my view but I believe this to be illegal in the State of California? Re Ca. Civil Code 1632
Again I feature a case where the short sale option is being ignored. Did I say option? In fact *BANK NAME REMOVED* advertised HAFA on their web site. So is it really optional? Is offering something that you never intended to present to the public fraud? That is a question for regulators, Congressmen and attorneys. Realtors and HUD Housing Counselors are just the front line recipients of the contempt for the rule that banks advertise and then ignore.
If you look at the dates of the *BANK NAME REMOVED* correspondence (in the attachment) you will see that she is in the loan modification process now, but is only days away from a foreclosure , trustee sale. Based on my experience, without your aid, another member of our community will not be provided the HAFA opportunity that the Treasury Department endorses, pays for and *BANK NAME REMOVED* says they adhere to.
Many of you know me, as I have aided your constituents,you know I look for opportunities to solve these cases without your help. I did that in this case, with a Vice President at *BANK NAME REMOVED*, but my polite and informal requests have not be fielded. (anyone wants to see the e mails please request them) I have no choice but to ask for your help.
Beyond the scope of this single case think how many people are out there that can not find advocates to help them. Every one of the cases I have brought forward to you, has been resolved successfully, for the community, according to the rules. I also expect this case to have the same positive outcome. Considering that, why is the system not changing? Is it just easier to extinguish the few cases I bring you? Why would *BANK NAME REMOVED* not open a clear pathway for evaluation of problematic loans? THEY IN FACT will not even let their Loss Mitigation personnel use e mail to contact Realtors to do short sales.
As I have said before, the cases I bring to your attention are not anomalies, these cases are the norm. Is it not time to work together to solve these problems? Are homeowners being looked at like expendable soldiers in an economic war, even after HAMP and thus HAFA are presented, and advertised by both Government and the banking Industry.
I will continue to work with my community, be it the Urban League, the Congressional Offices or the California Association of Realtors. We have to be getting close to the single spark that starts the fire to make us all work together. After all ” Persistence alone is Omnipotent. (click her to see the President who authored these quoted words) Maybe I am a foolish, naive and an idealistic man, but with your help and attention to my complaints, you have saved homes, some is far better than none. I personally make each of the people aware of the fact, it was not me, it was you, and the sunshine you bring to the process, that made the favorable outcomes for them possible.
Some of you have written to me relative to the scanner I requested for the Urban League on my blog. No offers yet but I am confident, soon someone (bank or bankers) will see the strength of generosity and caring for their community. The only thing that attracts a banker more than profit is doing the right thing, some one is right around the corner, I can just feel it.
Regulators and Congressman will receive the attachment and authorization to disclose with the client data in a separate E mail.
Broker Associate. Lic. 01229951
Keller Williams Realty
4700 Spring Street
La Mesa, Ca. 91942
Ca. Association of Realtors Staff
National Association of Realtors Staff
San Diego Association or Realtors
Rayman Mathoda, Asset PlanUSA – Nationally Recognized HAFA Trainer and Consultant.
Interested Media Outlets
And a Couple of V.Ps from *BANK NAME REMOVED* in blind copy.