New state, national figures released on anniversary of National Mortgage Settlement

INDIANAPOLIS – One year after the National Mortgage Settlement, the nation’s five largest banks reported extending more than $134 million in total relief to Indiana consumers.

The settlement resulted from state and federal investigations which found that Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct. Indiana Attorney General Greg Zoeller said the state’s total is made up of more than $125 million in relief to help consumers avoid foreclosure and more than $9 million in loan modifications that are currently in progress.

“This announcement means more than 3,200 Indiana consumers have received much-needed relief through refinancing or home-loan modifications,” Zoeller said. “While there has been substantial success, it is clear that the servicers have more to do to meet the requirements set by the National Mortgage Settlement.”

The Office of Mortgage Settlement Oversight released their report Thursday which outlined the state and national consumer relief activities of the banks from March 2012 through December 2012. Nationally, the report revealed $45.83 billion in gross relief was extended to 550,000 borrowers.

The full report and the monitor’s state-by-state data map are available at www.mortgageoversight.com.

Zoeller will participate in a National Mortgage Settlement conference in Chicago today at the Loyola University Chicago School of Law. The conference will focus on the housing market collapse, the intricate path to the National Mortgage Settlement and the independent monitor that has been established to oversee the terms of the agreement. Zoeller will speak during a panel titled, “An Innovative Approach to Law Enforcement: A Bipartisan State-Federal Partnership.”

The monitor’s office has certified that as of Feb. 1, 2013, Ally/GMAC completed its consumer relief requirements and that the bank is in substantial compliance with its requirement to reach out to consumers and provide them with loss mitigation assistance.

Indiana homeowners who were foreclosed upon and experienced a servicer error between Jan. 1, 2008 and Dec. 31, 2011 will receive a total of $31.4 million in cash payments. Claim forms were mailed to eligible borrowers last fall and the deadline to submit a claim has now passed. If you have submitted a claim form, the settlement administrator will contact you if any additional information is needed to complete your claim. Checks to borrowers who submitted claim forms are expected to be mailed mid-year in 2013. The exact amount of the payment to be made to each eligible claimant is not yet known, but it will exceed the minimum payment of $840 that was indicated on the claim form.

As part of the overall settlement, the Indiana Attorney General’s Office received $43.8 million, with $28.8 million dedicated to the Low-Income Home Energy Assistance Program (LIHEAP) and the rest committed to the Consumer Protection Division and Homeowner Protection Unit consistent with the terms of the agreement. Zoeller said the LIHEAP funding helps low-income individuals, including homeowners who are most at-risk to be foreclosed upon, pay their heating bills.

Zoeller said the banks, as part of the settlement, were also required to implement comprehensive servicing reforms by Oct. 2, 2012. The monitor is currently evaluating compliance with those reforms and plans to file its first report on servicers’ compliance with the court later this year.

On Wednesday, February 20, 2013, Jacobsville Join In representatives released the results of nearly 70 neighborhood interviews to Jacobsville residents and stakeholders. The first part of Jacobsville Join In initiative was intentional listening to people who live and work in the neighborhood. This was done through one-on-one listening sessions.

“There’s only one way to engage someone, and that’s by listening to them,” said Jim Capraro, senior fellow at the Institute for Comprehensive Community Development, when he spoke to those in attendance.

The purpose was to begin the project asking the people who live and work in the neighborhood what they see as the strengths and weaknesses of the area and what they hope for the neighborhood in the future. There are no pre-determined outcomes for the plan, ideas and projects will come from the people in the neighborhood, and people in the neighborhood will play key roles in implementing the completed plan.

The comments made during the interviews were grouped and summarized into themes that communicate similar comments. One common theme stood out which is, “Jacobsville residents find that opportunity for improvement will happen through community involvement via events and meetings. Getting to know and help neighbors through relationship building will help to improve negative attitudes and boost community spirit.”

The report outlines findings from the interviews. The strengths, weaknesses, opportunities, and threats identified in the interviews will provide the basis for the Quality of Life plan moving forward. They will inform those who participate in the visioning session and the working groups that develop the plan. The vision and the plan itself will be created by the people who live and work in Jacobsville and who are committed to making Jacobsville a great place to live, work, and play.

Melissa Tines, a resident of the neighborhood, spoke to the group about community involvement. Tines said, “If people would slow down and take the time to look within…strip down their lives to what really is important, they will find they are able to do things they had no idea that they could do.”

Jennifer Mason, the Community Mobilizer for the project said, “The Report Back was just the beginning to the quality of life process for the neighborhood. There is still plenty of work to be done and time for residents to get involved in the process. The next phase will include a visioning this spring.” The Visioning is scheduled for Saturday, April 13th from 10:00 am to 2:00 pm at Delaware Elementary School.

Mason went on to say, “But don’t wait till April to get involved…We need people to join in now by getting the word out to their neighbors, co-workers, and friends! Additionally, we will be holding a second report back session this Saturday, February 23rd 10 am to noon at Central United Methodist Church Garden Room, for people that weren’t able to attend the weekday session.” To find out how to join in neighbors can visit our office at 621 North Main Street, or call at 812-746-8933. For additional information visit www.jacobsville.net.

Jacobsville Interview Report

Five programmable weather radios will be given away
Residents will have a chance to win a free programmable weather radio at the Traveling City Hall meeting Wednesday, Feb. 27, from 5:30 to 7 p.m. at Central High School, 5400 N. First Avenue. The meeting will be held in the school’s cafeteria.
Mayor Lloyd Winnecke will welcome guest and introduce city department heads and elected officials present at the meeting. Emergency Management Agency Director Sherman Greer will give a brief presentation on severe weather preparedness, and drawings will be held to give away five weather radios provided by the Indiana Department of Homeland Security. Individuals must be present to win.
Traveling City Hall meetings are held the last Wednesday of each month from 5:30 to 7 p.m. at different locations in neighborhoods throughout the city. Residents are welcome to attend any session to meet one-on-one with Mayor Lloyd Winnecke and city department heads to address specific issues or simply discuss the status of our community.
The next Traveling City Hall meeting will be Wednesday, March 27, from 5:30 to 7 p.m. at Red Bank Branch Library, 120 S. Red Bank Road.

Vanderburgh County Sheriffs Office Public Meetings