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December
kick-off event keynote speaker Donna Gambrell
(FDIC, Consumer Protection) poses with AAAA
Board of Directors
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"ANTI-PREDATORY
LENDING CAMPAIGN,
“SMARTER MORTGAGE MONEY”
Upcoming
Events:
-
September 13, 2008
September 20, 2008
NCRC—National Community Reinvestment
Corporation
NCRC is hosting a "Save the Block Party!"
in Maryland on September 13, 2008 at
Watkins Regional Park and Virginia
on September 20, 2008 at the Fairfax County
Government Center. These neighborhood-focused
homeownership sustainability programs are
aimed at assisting troubled homeowners in
Prince George's County, Maryland and Fairfax
County, Virginia. Preregistered homeowners
will receive foreclosure prevention assistance
from qualified HUD-certified housing counselors.
NCRC has also launched a new foreclosure
prevention website, www.savetheblockparty.org.
Please contact Patrice Davenport at
at NCRC today at 202.464.2723 if you have
any questions or would like to get involved
Contacts:
Lanta Evans, Immediate Past President
301-459-5515 telephone or AAAApres@verizon.net
Tyson Bellamy Vice President
301-961-1507 telephone or Tysonqb@aol.com
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"ANTI-PREDATORY LENDING CAMPAIGN,
“SMARTER MORTGAGE MONEY”
 The
Association of African American Financial Advisors
(AAAA) announces the launch of their “Smarter Mortgage
Money” program, a financial education campaign designed
to increase mortgage literacy skills related to
home buying, mortgage financing and predatory lending
practices.
The
goal of the first phase of the campaign is to reduce
predatory lending and improve access to housing
through financial literacy in Montgomery County,
Maryland, which is where AAAA is headquartered.
First time homebuyers and low-income borrowers often
lack access to basic information about purchasing
or re-financing a home and as a result may be targets
of housing discrimination and potential victims
of predatory lending practices.
The
Association of African American Financial Advisors
will provide educational seminars to residents in
Montgomery County who are interested in purchasing
or refinancing a home. The seminars will teach residents
how to evaluate their spending, credit and debt
capacity, how to purchase homes, how to seek and
obtain mortgage financing and how to recognize predatory
lending practices and housing discrimination. Particular
attention will be directed towards County residents
of limited incomes who would be first-time buyers
and are members of racial, ethnic, gender or age
groups including African Americans, Latinos, women
and the elderly.
AAAA
will work with private and public groups, including
local civic, community and faith-based organizations,
as well as county, state and federal governmental
agencies to help identify Montgomery county residents
who may be likely targets of predatory lending or
housing discrimination. Organizational heads are
encouraged to contact AAAA to participate in this
effort, and for an invitation to our “Smarter Mortgage
Money” kick-off event, which will be held on Tuesday,
December 6, 2005 from 6:30 pm to 8:30 pm at the
Gilchrist Center for Cultural Diversity, 11319 Elkin
Street, Wheaton, MD 20902. The guest speaker for
this event will be Ms. Donna Gambrell, Deputy Director
for Compliance and Consumer Protection, Division
of Supervision and Consumer Protection, Federal
Deposit Insurance Corporation (FDIC).
ANTI-PREDATORY
LENDING CAMPAIGN
EVENTS
- Improve
Your Credit Scores & Manage Your Debts ¨
-
Buy a Home and Protect your Home Equity ¨
-
Avoid Lending Scams and Predatory Loans ¨
-
Evaluate alternatives for refinancing 2/28,
3/27, ARMs, and other adjustable rate mortgages
¨
-
Evaluate the Pros and Cons involved in Real
Estate Investing ¨
-
Manage your 401k, IRAs, & Investments ¨
- Plan
for a Comfortable Retirement
FREE
EVENT—No Cost to Attend
But pre-registration is requested: 301-459-5515
Refreshments will be available
-
HELD:
Saturday,
October 14th, 2006
Saturday,
October 28th, 2006
“Smarter Mortgage Money”
Homebuying and Anti-Predatory Lending Seminar
9:00am-11:00am
Eggspectations Restaurant
923 Ellsworth Drive
Silver Spring, MD 20910
Breakfast will be served
-
HELD:
September 16, 2006;
1pm to 4pm
31 Norwood Road
Silver Spring, MD. From
Held in conjunction with the J. Franklin Bourne
Bar Association, Inc.
—Community Law Day
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HELD:
September 13, 2006;
Homebuying and Anti-Predatory Lending Seminar
9:30am—11:30am
Eggspectations Restaurant
923 Ellsworth Drive
Silver Spring, MD 20910
Breakfast served
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HELD:
April 29, 2006
"Smarter Mortgage Money"
9:30am
to 11:30am
Montgomery County Council Office Building
3rd Floor Conference Room,
100 Maryland Avenue
Rockville, MD
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HELD:
February 16, 2006
"Smarter
Mortgage Money"
Seminar Pre-Launch Event
6:00-8:00pm
Gilchrist Center, Wheaton, MD
Agenda
Welcome
Lanta Evans-Motte, AAAA President
Guest
Speaker
Councilman Thomas Perez, Montgomery County Council
Introduction
of Panelists
LeCount Davis, AAAA Board Chairman
Panel
of Experts:
-
Eric Friedman
Chief, Montgomery County Division of Consumer
Affairs & Protection
-
Marissa Wells
Program Manager, Montgomery County Office
of Human Rights
-
Michelle
Wright
Director of Outreach, State of Maryland
Dept of Housing & Community Development
-
Lloyd P. London
Director, National Anti-Predatory Lending
Consumer Rescue Fund, National Community
Reinvestment Coalition
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HELD:
December 6, 2005
"Smarter
Mortgage Money"
Kickoff Event
6:30-8:30pm
Gilchrist Center, Wheaton, MD
Agenda
Welcome
Lanta Evans-Motte, AAAA President
Guest
Speaker
Councilman Thomas Perez, Montgomery County
Council
Keynote Speaker
Donna J. Gambrell
Federal Deposit Insurance Corporation (FDIC)
Deputy Director Compliance & Consumer Protection
Remarks:
Eric Friedman
Chief, Montgomery County Division of Consumer
Affairs & Protection
AAAA
Predatory Lending Initiative Next Steps
AAAA Board of Directors and Community Leaders
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December
kick-off event speakers Donna Gambrell
(FDIC, Consumer Protection) and Eric
Friedman (Montgomery County Consumer
Protection) pose with AAAA President
Evans and AAAA Chairman Davis
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SUMMARY:
Bill
36-04
Commission
on Human Rights-Discrimination in Housing- Amendments
Chapter 29, Laws of Montgomery County 2005
Council President Perez and Councilmembers Subin
and Floreen introduced Bill 36-04, Commission on
Human Rights-Discrimination in Housing-Amendments,
which was passed by the Council on November 29,
2005 and becomes effective on March 8, 2006.
Bill 36-04 expanded the categories of lending activities
that constitute discriminatory housing practices
and increases the amount of damages that the Commission
on Human Rights may award. The bill also clarifies
that a "person" must not engage in discriminatory
lending practices and requires the Commission to
provide an annual report on discriminatory lending
activity in the County to the Executive and Council.
The
goal of this bill was to identify specific categories
of lending activities that constitute discriminatory
housing practices to put banks, brokers, and borrowers
on notice that discriminatory lending based on race,
color, religious creed, ancestry, national origin,
sex, marital status, disability, presence of children,
family responsibilities, source of income, sexual
orientation, or age may result in damages imposed
by the Commission. The bill also expanded the current
prohibition on lending based on these classifications
by applying the law to persons such as mortgage
brokers as well as lending institutions. This change
will enable the Commission to investigate loan brokers
and other third parties that may engage in discriminatory
lending practices. Finally, the bill's reporting
requirement was needed to identify overall lending
patterns in the County for prime and subprime loans
based on age, gender, and race categories to comprehensively
track the types of discriminatory lending practices
that may occur.
______________________________________________________________
For more information on the “Smarter
Mortgage Money” Campaign, contact Lanta Evans-Motte,
Project Manager at 301-459-5515, or Tyson Bellamy,
Assistant Project Manager, at 202-251-2609. For
more information on AAAA, contact LeCount Davis,
Chair, at (301) 961-1507, by email at lrd@lrdmanagement.com;
or at www.aaafa.org.
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