|
Written by YBPNewYork Staff Report
|
|
Sunday, 19 June 2011 00:00 |
Sen. Smith continues fight
against mortgage foreclosure
Queens Sen. Malcolm Smith has passed two of his bills through the Senate Banking Committee, which will help stem the tide of mortgage foreclosure.
“Southeast Queens is ground zero for fraudulent mortgages,” he said. "This trend is completely unacceptable and I am confident that my legislation will greatly impact enforcement on deceptive and abusive practices in the lending industry."
A 2010 study by the mortgage and real estate data company First American CoreLogic analyzed 80 million loans from Maine to Malibu, from 2004 through 2009. The results indicated that a section of South Jamaica has the highest concentration of bogus loans in the nation, with zip code 11436 being the absolute worst.
The first Smith bill, S3779, would tighten the mortgage banker licensing exemption, helping to prevent and address problems resulting from unregulated residential mortgage loans which are not subject to existing consumer protections.
The second Smith bill, S3781, would help prevent and address illegal and fraudulent activities in the mortgage industry. This bill would take additional steps to require authorization under the banking law for persons undertaking financial activities to obtain necessary approval.
Smith concluded that “This type of legislation is long overdue. It will encourage and promote increased cooperation with appropriate agencies to learn of unauthorized lenders and lending practices and it will also crack down on illegal conduct to protect both the consumers and the lenders who are victimized by these practices.”
|
|
Last Updated on Thursday, 23 June 2011 01:04 |
|
|
Written by YBPNewYork Staff Report
|
|
Sunday, 19 June 2011 00:00 |
Rep. Clarke celebrates
Caribbean heritage month
Brooklyn Rep. Yvette Clarke is proud of her Caribbean roots.
“As a Brooklyn native whose roots are firmly planted in my Caribbean heritage, I take great pride in celebrating Caribbean-American Heritage Month," she said. "This month we celebrate and recognize the many contributions Caribbean-Americans have made to this country. This would include people like, iconic actress Cicely Tyson, Former Secretary of State, General Colin L. Powell, legendary singer, actor and civil rights activist Harry Belafonte and the Honorable Shirley Chisholm."
Caribbean-American Heritage Month is also a time to strengthen U.S. relations with the many Caribbean nations that Brooklynites consider allies and neighbors, according to Clarke. For this reason, the congresswoman encourages continued support of Haitians, as they work to recover from the aftermath of the January 2010 earthquake.
“Last month I joined U.S. Rep. Donald Payne (D-NJ) and U.S. Rep. Fredericka Wilson (D-FL) in sending a letter to Secretary of State Hillary Clinton in addressing the dire conditions that surround many of the Internal Displace Persons (IDP) camps, particularly the rise of gender based violence that occurs due to a lack of a structured security plan," she said. "I also joined my colleagues in expressing outrage in response to reports of IDP camps being destroyed in an attempt to relocate people. As a representative of the second largest population of first and second generation Haitian immigrants, I understand the importance of ensuring that our nation and our global community fulfils its commitment to help Haiti fully recover.
“This month of June, I encourage all of us to reflect on our shared experiences, interwoven cultures, and the influence and contributions Caribbean-Americans have made in our society. One love.”
|
|
Last Updated on Thursday, 23 June 2011 01:16 |
|
|
<< Start < Prev 1 2 3 Next > End >>
|
|
Page 1 of 3 |
