Legislative Updates from National Association of Consumer Advocates
February 21, 2010
The following post is excerpted from an email alert from the National Association of Consumer Advocates (NACA).
These are a few of the current legislative issues NACA is working on:
Forced Arbitration
NACA is still working hard to get the Arbitration Fairness Act (AFA) and the Fairness in Nursing Home Arbitration Act out of the House Judiciary Committee.
The AFA now has 108 co-sponsors! We are pushing Congressman Steve Cohen (D-TN), the Chairman of the House Judiciary Committee’s Commercial & Administrative Law Subcommittee, to schedule a vote on the bill during the next several months. Subsequently we will push for a full vote in the Judiciary Committee. The vote in the House is our first priority; however, NACA continues to lobby the Senate as well, to garner support and build momentum.
NACA is also working hard to preserve the proposed language in the Consumer Financial Protection Agency Act of 2009 that addresses forced arbitration. The version that passed the House and is similar in the Senate, enables the Consumer Financial Protection Agency (CFPA) to restrict and/or ban the unfair practice of forced arbitration from financial contracts. In the House there were attempts to strip such language, and we anticipate that we will again be called upon to fight to maintain the language in the Senate.
Homeownership / HAMP
Yesterday, the Treasury Department released January data for the Administration’s Home Affordable Modification Plan (HAMP).
The Administration’s current plan is still clearly not working as we see foreclosures across the U.S. continue to soar. After 11 months, only one in ten homeowners participating in the HAMP program have had their mortgage permanently modified.
In late 2009, NACA and NCLC conducted a survey about the occurrence of foreclosure sales in violation of HAMP. Over 100 NACA members from 24 states participated. The results indicated that foreclosure sales were still a significant problem and in need of a substantial policy solution.
Two weeks ago, NACA organized a call with its Institute for Foreclosure Legal Assistance (IFLA) grantees to discuss the shortcomings of the HAMP program and what they are seeing in the field. NACA is presently drafting a letter to Congress and the Administration explaining the IFLA attorneys’ concerns with HAMP and to set forth recommendations on what is needed to make the program work for homeowners facing foreclosure.
Consumer Financial Protection Agency
As you know, the pending financial reform legislation that would rein in many Wall Street abuses and create an independent CFPA is still being negotiated in the Senate.
NACA just learned that Senator Chris Dodd (D-CT), the Chairman of the Senate Banking Committee, will be releasing a new draft of his proposed financial reform package next week. The fight right now is about the very structure of the CFPA and whether it will maintain independence.
NACA has been meeting with Senate offices to convey that independence in regards to the CFPA requires the agency be independently funded, have independent rulemaking authority over both banks and non-banks, the head of the agency be independently appointed by the President for a specified term and have independent managerial decision making power, and that the agency have examination and enforcement authority that is not subject to approval or veto.
Maryland Foreclosure Prevention Project: Foreclosure Solutions Workshop September 12, 2009 in Baltimore County
August 5, 2009
There will be a Foreclosure Solutions Workshop on Saturday, September 12, 2009 in Baltimore County from 9:00 a.m. to 5:00 p.m. hosted by Congressman Elijah E. Cummings.
Homeowners should bring: (1) all paperwork related to current and former mortgages (including loan application, settlement paperwork and lender statements); (2) all foreclosure notices or threats of foreclosure received; and (3) information about monthly household budget (income/expenses).
DATE: SATURDAY, September 12, 2009
TIME: 9:00 a.m. to 3:00 p.m.
LOCATION: Woodlawn High School, 1801 Woodlawn Dr., Gwynn Oak, MD 21207
***This location is handicap accessible.***
Maryland Foreclosure Prevention Project: Foreclosure Solutions Workshop on Saturday, August 29, 2009 in Prince George’s County
August 5, 2009
There will be a Foreclosure Solutions Workshop on Saturday, August 29, 2009 in Prince George’s County from 9:00 a.m. to 4:00 p.m. hosted by the Offices of Governor Martin O’Malley and Lt. Governor Anthony Brown.
Homeowners who pre-register are guaranteed a free legal consultation.
Homeowners should bring: (1) all paperwork related to current and former mortgages (including loan application, settlement paperwork and lender statements); (2) all foreclosure notices or threats of foreclosure received; and (3) information about monthly household budget (income/expenses).
DATE: SATURDAY, August 29, 2009
TIME: 9:00 a.m. to 4:00 p.m.
LOCATION: Charles Herbert Flowers High School
ADDRESS: 10001 Ardwick Ardmore Rd., Springdale, MD 20774
REGISTRATION: Home-owners should call (800) 756-0119 to register.
***This location is handicap accessible.***
Maryland Foreclosure Prevention Project: Foreclosure Solutions Workshop on Wednesday, August 19, 2009 in Baltimore County
July 14, 2009
There will be a Foreclosure Solutions Workshop on Wednesday, August 19, 2009 in Baltimore County from 5:00 p.m. to 8:30 p.m. hosted by the Baltimore County Office of Community Conservation.
Homeowners who pre-register are guaranteed a free legal consultation. Homeowners should pre-register by calling (410) 887-3124.
Homeowners should bring:
- All paperwork related to current and former mortgages (including loan application, settlement paperwork and lender statements);
- All foreclosure notices or threats of foreclosure received; and
- Information about monthly household budget (income/expenses).
Date: WEDNESDAY, August 19, 2009
Time: 5:00 p.m. to 8:30 p.m.
Location: New Town High School, 4391 New Town Blvd., Owings Mills, MD 21117***
Preregistration: Homeowners should pre-register by calling (410) 887-3124.
***This location is handicap accessible.
Maryland Foreclosure Prevention Project: Foreclosure Solutions Workshop on Wednesday, May 27, 2009 in Baltimore City
May 4, 2009
There will be a Foreclosure Solutions Workshop on Wednesday, May 27, 2009 in Baltimore City from 6:00 p.m. to 9:00 p.m. hosted by Associated Black Charities.
Pre-registration guarantees a free legal consultation.
Homeowners should bring: (1) all paperwork related to current and former mortgages (including loan application, settlement paperwork and lender statements); (2) all foreclosure notices or threats of foreclosure received; and (3) information about monthly household budget (income/expenses).
Hosted by:  Associated Black Charities
Date: WEDNESDAY, MAY 27
Time: 6:00 p.m. to 9:00 p.m.
Location: The Gala Center
Address: 1700 Hill Drive, Baltimore, MD 21224***
For Homeowner Pre-Registration: Call (410) 659-0000, x1231
***This location is handicap accessible.
The above was excerpted from a Maryland Foreclosure Prevention Project email alert.
Maryland Foreclosure Prevention Project: Foreclosure Solutions Workshop Saturday, May 30, 2009 in Annapolis
April 30, 2009
There will be a Foreclosure Solutions Workshop on Saturday, May 30, 2009 in Annapolis from 10:00 a.m. to 2:00 p.m. hosted by First Christian Community Church.
Homeowners who pre-register are guaranteed a free legal consultation.
Homeowners should bring: (1) all paperwork related to current and former mortgages (including loan application, settlement paperwork and lender statements); (2) all foreclosure notices or threats of foreclosure received; and (3) information about monthly household budget (income/expenses).
Date: SATURDAY, MAY 30
Time: 10:00 a.m. to 2:00 p.m.
Location: First Christian Community Church
Address: 1800 Hall Brown Road Annapolis, MD 21401
To register: Homeowners should call (410) 224-5788
***This location is handicap accessible.
The above was excerpted from a Maryland State Bar Association Foreclosure Prevention Project email alert.
Maryland Foreclosure Prevention Project: Montgomery County Foreclosure Solutions Workshop May 21, 2009
April 15, 2009
Eastern Montgomery Regional Services Center will sponsor a Foreclosure Solutions Workshop on Thursday, May 21, 2009.
Pre-registration guarantees a free legal consultation. To pre-register, Homeownes should call (240) 777-8400.
Homeowners should bring:
- All paperwork related to current and former mortgages (including loan application, settlement paperwork and lender statements),
- All foreclosure notices or threats of foreclosure received, and
- Information about monthly household budget (income/expenses).
Date: Thursdsay, May 21, 2009
Time: 6:00 p.m. to 9:00 p.m.
Location:
Eastern Montgomery Regional Services Center
3300 Briggs Chaney Road
Silver Spring, MD 20904
Handicap accessible? Yes.
To preregister: Homeownes should call (240) 777-8400.
The above post was excerpted from a Maryland Foreclosure Prevention Project announcement.
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