“ACORN caused mortgage crisis and bailout”
“PRESIDENT OBAMA; "NYCHA & HRA ARE CONDUCTING A FORM OF REDLINING" & the EVDIDENCE”
Sidley trio developed a snuff-film escrow service with MindBox anti-redline rules
Note ‘Everyone participates’ in the events of 9/11, described as “the first live broadcast mass snuff film in human history”.
“Housing Crisis: Previously unpublished court documents reveal that as a young lawyer from Chicago, President Obama's lawsuit against big banks started inflating the housing bubble that created the mess he says he inherited. We have often written that the true roots of our current economic crisis lay in the excesses of the 1977 Community Reinvestment Act as redefined under the Clinton administration. We have explained how community outreach by banks, under pressure from groups such as Acorn, was transformed into the mandatory credit issuance based not of creditworthiness, but on the basis of "fairness." "Redlining," the activists argued, was the antithesis of the American dream of owning a home. Moreover, they insisted, everyone had the "right" to own a home. So the banks were forced to issue loans to people who couldn't afford to pay them back. The banking system was forced to inflate a housing bubble that set us up for a near-catastrophic economic collapse. This did not occur by accident, but by design at the hands of disciples [including Obama’s mentor in snuff-film escrow at Sidley, Bernardine Dohrn] of the Cloward-Piven strategy of overwhelming the system, causing it to collapse, then to be replaced by a worker's paradise of redistributed income with the individual totally subservient to the greater good. Presidential candidate Barack Obama called it the "fundamental transformation" of America, and he was there when the seeds of collapse were planted. The Daily Caller has obtained and analyzed previously unpublished court documents relating to a class-action lawsuit filed in 1995 by young attorney Barack Obama on behalf of three lead plaintiffs and 180 subsidiary plaintiffs against Citibank for alleged discrimination in lending practices. As the Daily Caller relates, "Obama's lawsuit was one element of a national 'anti-redlining' campaign led by Chicago's progressive groups, who argued that banks unfairly refused to lend money to people living within so-called 'red lines' around African-American communities." The discrimination lawsuit was initiated by Chicago progressive activist Fay Clayton in 1994. Obama's employer, lawyer Judson Miner, joined with Clayton to file a class-action lawsuit a year later. Obama later introduced himself to Clayton as an "associate" on the case. .. Citibank would settle the case, with $950,000 going to the lawyers, including Obama. But it gave only $20,000 to each of the three named plaintiffs, and included $360,000 in benefits to be divided among the 183 other clients. Their portion of the settlement was not in cash, but in coupons. About half of the 186 African-American clients in Obama's lawsuit have since gone bankrupt or received foreclosure notices.”
“Atlanta, GA – May 2, 2011 – (RealEstateRama) — As a result of TPG Capital’s purchase of MDA DataQuick, MDA Lending Solutions and MDA MindBox in January, the three companies will integrate their operations effective May 2, 2011. The combined company, which will operate under the name DataQuick®, will deliver advanced real estate information solutions powered by higher quality data, analytics and advanced decisioning. DataQuick provides lenders, servicers, real estate companies and secondary market investors with one source for customer-focused solutions across a national footprint. The capabilities of these formerly separate companies will be aggregated under one management team, under the direction of president John Walsh. “While the property information businesses have always shared resources, integrating our operations will provide customers and business partners complete access to all of our capabilities,” Walsh said. “This integration will enable DataQuick to create innovative product solutions that combine our market experience with better data and analytics.” The combined company offering includes appraisal, title, flood, credit and settlement services, performed by the former MDA Lending Solutions, combined with the real estate property data, analytics and advanced decisioning synonymous with the DataQuick name. …. Home Mortgage Lending Plummets in Neighborhoods of Color: National study exposes unequal access to credit and redlining April 28, 2011 by California RealEstateRama San Francisco, CA – April 28, 2011 – (RealEstateRama) — Access to mortgage refinance loans sharply declined in communities of color – and increased substantially in predominantly white neighborhoods, according to a report released today by a multistate coalition of groups. The report, Paying More for the American Dream V, examines changes in conventional refinance lending between 2008 and 2009 in seven metropolitan areas: Boston, Charlotte, Chicago, Cleveland, Los Angeles, New York City and Rochester, NY. It also compares 2009 loan denial rates across neighborhoods. In all seven cities analyzed, lenders denied loan applications at significantly higher rates in communities of color than in predominantly white neighborhoods.”
More to follow.