“The CFPB’s mortgage servicing rules introduce essential standards to what was previously a wild west that encouraged the proliferation of practices that harmed consumers and led to unnecessary foreclosures,” said Dory Rand, president of Woodstock Institute. “Now, homeowners trying...
Woodstock president Dory Rand testified in support of the ordinance at the hearing. “A land bank is necessary for stabilizing vacant homes and recovering from the foreclosure crisis,” Rand said in her testimony. “A Cook County Land Bank would...
130115_landbank_testimony_0.pdf Testimony of Dory Rand before the Finance Committee of the Cook County Board of Commissioners in support of the Cook County Land Bank Authority. Woodstock Institute research shows that distressed, vacant properties are significantly more likely to be concentrated...
The ordinance was introduced in December 2012 as part of the City’s three-pronged plan to better regulate predatory lending industries and protect consumers. Placement restrictions are intended to reduce the over-proliferation of alternative lending entities, specifically in underbanked lower-wealth communities...
130114_payday_zoning_testimony_Final_0.pdf Testimony of Courtney Eccles in support of zoning restrictions for payday loan, title loan, and pawn shops. Alternative financial services strip wealth from low-wage workers and communities of color. The proposed ordinance would limit over-concentration of potentially predatory...
“The housing crisis was triggered by mortgages that were designed to fail—lenders put borrowers into exotic, costly loans that didn’t require proof that borrowers could actually afford them,” said Dory Rand, president of Woodstock Institute. “The CFPB’s ability-to-repay rules...