[COMM-ORG] PICO housing organizing

[Discussion list for COMM-ORG]

From: "PICO National Network" <news at piconetwork.org>

Dear Friend,

Today, PICO sent a letter to Bank of America CEO Brian Moynihan,
expressing our anger and disappointment that, with the worst recession
since the Great Depression causing suffering for so many working
Americans, the bank continues to needlessly throw families out of their
homes. View the letter at
http://capwiz.com/piconetwork/utr/1/LZNWMBGVUL/OXDVMBHNWI/4699917361

We are outraged that, despite our repeated efforts to negotiate with
Bank of America, they refuse to make any meaningful changes to their
foreclosure prevention and community investment policies and practices.

Bank of America services the loans of more than one million families
who are potentially eligible for a HAMP loan modification (one third of
all eligible homeowners nationwide).  Yet after nine months of
participation in HAMP, Bank of America has offered permanent
modifications to just 1% of these families.  View the latest HAMP data
at
http://capwiz.com/piconetwork/utr/1/LZNWMBGVUL/JKWMMBHNWJ/4699917361

While all the major banks have failed to offer permanent modifications
to more than a small fraction of eligible borrowers, among these poor
performers, Bank of America continues to fall farther behind.  On
average, homeowners are more than four times more likely to get a
permanent loan modification if they have a servicer other than Bank of
America.

Most disturbing is the lack of any sense of urgency demonstrated by
Bank of America staff about the gravity of this crisis.

In a recent letter from Bank of America California State President,
Janet Lamkin, Bank of America told PICO that they believe that
providing "direct help to individual bank customers...to be more
productive than a prolonged dialogue about our procedures and
processes."
http://capwiz.com/piconetwork/utr/1/LZNWMBGVUL/NIAQMBHNWK/4699917361

More than two years into the worst foreclosure crisis since the Great
Depression, with millions of families having already lost their homes,
and millions more expected to over the next few years, and still, Bank
of America shows no willingness to change its corporate policies that
are causing suffering for so many Americans.

Next week, a delegation of clergy and grassroots leaders from PICO will
be attending Bank of America's shareholder's meeting in Charlotte, NC
to communicate this sense of urgency directly to Mr. Moynihan and the
Board of Directors.  We want Bank of America to know that they still
have an opportunity to change this course of action.

Many of us pray in the Christian tradition, and thus have just entered
the Lenten season.  Lent is a period in which we are called to become
more honest about ourselves, seek repentance, and move to amend our
lives.  We believe that Bank of America would greatly benefit from a
similar period of self-examination.

Sincerely,

PICO National Network