02-16-2020  3:00 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Trump Appointees Weigh Plan to Build Pipeline in Oregon

If the Federal Energy Regulatory Commission approves the project, which lacks state permits, it would likely set up a court battle over state's rights

Oregon Lawmakers Ask U.S. Attorney to Investigate Whether Local Police Violated Black Man’s Civil Rights

U.S. Sens. Ron Wyden and Jeff Merkley and U.S. Rep. Earl Blumenauer said this racial targeting of Michael Fesser "reflects the worst abuses of African-Americans in our nation’s modern history"

DA to Investigate West Linn Cops Handling of Wrongful Arrest

Former West Linn Police Chief Terry Timeus had his officers initiate an unwarranted, racially motivated surveillance and arrest of a Black Portland man as a favor to the chief’s fishing buddy

State and Local Leaders Push Back Against Fair Housing Changes

Trump administration proposes weakened regulation, tracking of housing discrimination

NEWS BRIEFS

Seattle Pacific University Hosts Music Events

Seattle Pacific University invites the public to a series of free music events during the months of February and March ...

A Celebration of Portland’s Role in the Negro Leagues to be Held Thursday, Feb. 20

The community is invited for a celebration of Black History Month and the 100th anniversary of Negro League Baseball in America ...

Kresge Foundation Selects PCC To Participate in Its National Boost Initiative

The $495,000 grant awarded to PCC and Albina Head Start will help connect low-income residents and students to services and...

Attorney Jamila Taylor Announces Run for State House of Representatives in Washington

Taylor pledges to continue outgoing Rep. Pellicciotti’s commitment to open, accountable government in a statement released today ...

Legislation Introduced to Prohibit Irresponsible Government Use of Facial Recognition Technology

The technology heightens the risk of over-surveillance and over-policing, especially in communities of color ...

Jury decides convicted Oregon meth dealer should lose home

PORTLAND, Ore. (AP) — A Yamhill County jury has concluded that police can seize the home of a woman convicted of a felony drug crime under Oregon’s civil forfeiture law.Sheryl Sublet, 62, pleaded guilty in 2018 to to selling less than 1,000 grams of methamphetamine, The...

Police seek suspect who robbed 3 Portland banks in 1 hour

PORTLAND, Ore. (AP) — A man robbed three Portland banks in less than one hour last week, according to the Portland Police Bureau.The robberies occurred Friday, The Oregonian/Oregon Live reported.The man wore glasses, a black beanie and flannel shirt.He robbed the Bank of the West on...

OPINION

Black America is Facing a Housing Crisis

As the cost of housing soars the homeless population jumps 12 percent, the number of people renting grows and homeownership falls ...

Trump Expands Muslim Ban to Target Africans

Under the new ban on countries, four out of five people who will be excluded are Africans ...

Martin Luther King Day is an Opportunity for Service

Find out where you can volunteer and make a difference to the community ...

Looking to 2020 — Put Your Vote to WORK!

Ronald Reagan, who turned his back on organized labor and started America’s middle-class into a tailspin, has recently been voted by this administration’s NLRB into the Labor Hall of Fame ...

AFRICAN AMERICANS IN THE NEWS

The Latest: Steyer's candidacy impresses civil rights leader

LAS VEGAS (AP) — The Latest on the 2020 presidential campaign (all times PST):1:55 p.m.The president of a civil rights organization once led by Martin Luther King Jr. says that Tom Steyer is the presidential candidate perhaps best suited to speak directly to some of the concerns weighing on...

Teammates appear to stop Marega leaving after racist slurs

LIBSON, Portugal (AP) — FC Porto striker Moussa Marega, who tried to walk off the field after being the target of racist slurs from fans, faced apparent attempts Sunday by his own teammates and opposition players to prevent him from leaving. Marega, who is black and from Mali, was visibly...

Steyer foundation mulling SC investments - after the primary

COLUMBIA, S.C. (AP) — Ahead of this month’s crucial South Carolina primary, the wife of presidential candidate Tom Steyer that the foundation she runs is interested in considering an investment proposal from one of the state’s largest black church congregations. But she said...

ENTERTAINMENT

Snoop Dogg apologizes to Gayle King for rant over Bryant

NEW YORK (AP) — After days of blistering criticism, Snoop Dogg has finally apologized to Gayle King for attacking her over her interview with former basketball star Lisa Leslie about the late Kobe Bryant.“Two wrongs don't make no right. when you're wrong, you gotta fix it," he said in...

Voigt shocked paper ran her photo with Freni's obituary

Deborah Voigt was in California earlier this week when she got a text from a friend on the East Coast."So sorry to hear the news of your passing," read the Monday message.The Gazzetta di Parma newspaper in Italy had run an obituary of Mirella Freni, the great Italian soprano who died Sunday at age...

Lizzo talks diversity, self-confidence and femininity

MEXICO CITY (AP) — Fresh from winning three Grammys, singer Lizzo visited Mexico City for a private concert, surprising her fans with acoustic versions of her hits and a toast with tequila.The star from Detroit, who won best pop solo performance (“Truth Hurts”), best...

U.S. & WORLD NEWS

Elton John, sick with pneumonia, cuts New Zealand show short

AUCKLAND, New Zealand (AP) — An emotional Elton John had to cut short a performance in New Zealand on...

Virus renews safety concerns about slaughtering wild animals

BEIJING (AP) — China cracked down on the sale of exotic species after an outbreak of a new virus in 2002...

California to apologize for internment of Japanese Americans

SACRAMENTO, Calif. (AP) — Les Ouchida was born an American just outside California's capital city, but his...

Banksy's Valentine's Day mural covered after it was defaced

LONDON (AP) — The family that owns a house in southwest England where an artwork from Banksy appeared in...

Esper says Taliban deal is promising but not without risk

MUNICH (AP) — U.S. Defense Secretary Mark Esper said Saturday that a truce agreement between the United...

US secretary of state visits Senegal to start Africa tour

DAKAR, Senegal (AP) — U.S. Secretary of State Mike Pompeo said the Trump administration is working to...

McMenamins
By The Skanner News

By Cora Currier, ProPublica

The big bank settlement over mortgage servicing abuses was finalized last week, detailing the agreement's actual terms.



Bank of America, Citigroup, Ally Financial (formerly GMAC) and JPMorgan Chase are on the hook for billions, which will be divvied up among penalties paid to the federal and state governments, direct payments to homeowners wrongfully foreclosed upon, and credits to the banks for providing "consumer relief." (Read the government's complaint and the banks' consent judgment.)

Here's a breakdown of key settlement numbers, showing where the money is going and how much help it will really provide for homeowners.

$1.4 billion: total direct payments from the settlement to homeowners who were wrongfully foreclosed upon between 2008 and 2011.

750,000: foreclosed homeowners expected to qualify.

$2,000: estimated average payout.

3.8 million: total foreclosures between 2008 and 2011.

25 percent: expected increase in foreclosures in 2012. That would mean about 1 million foreclosures, up from 804,000 last year, partly as a result of banks clearing a backlog held up by the settlement proceedings.

$3 billion: total for which banks can be credited for offering refinancing to underwater homeowners who owe more than their homes are worth. (There are questions about exactly how the credits will work and why the banks are being given incentives rather than punishment.)

$17 billion: total from the settlement that banks can be credited for offering loan modification ($10 billion) and other forms of "consumer relief" ($7 billion) for underwater borrowers — counted separately from the refinancing incentives.

11.1 millionunderwater mortgages in the U.S.

$717 billion: negative equity from those underwater mortgages.

3 million: estimated underwater mortgages owned or guaranteed by government-controlled Fannie Mae or Freddie Mac, which are not covered by the settlement.

5 percent: portion of the country's underwater mortgages that might qualify for modification under the settlement, according to a Brookings Institute estimate. (Officials have put the number closer to 10 percent.)

$10.9 billion: Bank of America's total outlay in the settlement, more than any other bank.

$2 billion: Bank of America's fourth-quarter 2011 profit.

$1 billion: settlement of allegations that Bank of America passed bad loans on to the Federal Housing Administration to insure. A government audit, made public with the settlement, showed similar patterns at other banks.

$6 billion: amount that the FHA paid in insurance claims on defaulted mortgages handled by the five banks between 2008 and 2010.

60-200: documents signed daily by different individual loan processors working for Bank of America, according to the government audit.

12-18 inches: height of the stacks of documents one Bank of America employee signed "without a review."

$1 million: fine to be levied on the banks for each violation of the terms of the overall settlement, escalating to $5 million for repeat violations. (Exactly how fines will be tallied is still unclear.)

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