04-10-2020  12:42 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

West Linn Police Chief on Leave Pending Investigation

Terry Kruger had vigorously defended his department's arrest of Michael Fesser, a Black man arrested without cause at the request of the then-police chief's fishing buddy

Four Candidates Run for Rare Open Bench on Multnomah County Circuit Court

Judge Gregory F. Silver will retire before the end of his term. 

Oregon Schools Closed Through Academic Year Due to Virus

Oregon has had more than 1,200 confirmed cases of the coronavirus and 38 deaths, according to the Oregon Health Authority

Oregon Inmates Sue Over COVID-19 Response

The suit asks a judge to mandate a social distance of 6 feet or more between inmates

NEWS BRIEFS

Civil Rights Groups Oppose the Department of Labor Suspending Affirmative Action Regulations for Federal Contractors

A broad coalition of civil rights groups sent a letter to the to the U.S. Department of Labor’s Office of Federal Contract...

New Tool to “Check Your Risk for COVID-19’’ Live in Portland Region

The tool offers an online checklist to help people decide if their symptoms and health conditions are serious enough that they should...

CDC Recommends Face Covering — Even in Parks, Outdoors

World Health Organization has switched from “social distancing" to the more accurate “physical distancing” ...

Portland Parks & Recreation Urges Social Distancing, Other Health Directives to be Followed

Achieving 6 feet of social distancing is extremely challenging at playgrounds, skate parks, and sports courts and fields, and those...

Texas Governor Unlawfully Exceeded Authority With Executive Order Limiting Jail Releases, Argues New Lawsuit

Lawsuit says governor’s order restricting releases exceeds his constitutional authority; public health experts agree reducing...

Lack of business forces Portland clinics to cut staff

PORTLAND, Ore. (AP) — Two large health care operations in Oregon are furloughing employees and cutting costs because of a lack of revenue due to the coronavirus outbreak, furthering cuts to medical facilities in the state.The Oregonian/OregonLive reports the Oregon Clinic has furloughed...

Man charged with attempted murder after man shot in Salem

SALEM, Ore. (AP) — A 20-year-old Salem man has been charged with attempted murder in connection with a shooting at a northeast Salem apartment complex. Jonathan Jimenez-Miranda faces charges of second-degree attempted murder, first-degree assault, and unlawful use of a weapon, the Statesman...

The Latest: 2 Madison Square Garden boxing cards called off

The Latest on the coronavirus outbreak's affect on sports around the globe (all times EDT):10 p.m.Two boxing cards at Madison Square Garden have been called off because of the coronavirus outbreak.A few hours after announcing the fights would proceed without crowds, promoter Bob Arum said Thursday...

Former AD, All-American center Dick Tamburo dies at 90

EAST LANSING, Mich. (AP) — Dick Tamburo, an athletic director at three major schools and an All-American center at Michigan State, has died. He was 90.Michigan State announced that Tamburo died Monday.A native of New Kensington, Pennsylvania, Tamburo served as the athletic director at Texas...

OPINION

Communities in Crisis: An Argument for Raiford for Mayor

“Things need to change,” says Mayoral candidate Teressa Raiford. “Houselessness is a public safety and health crisis, but we aren’t doing anything to mend it.” ...

You're Pretty... For a Dark-Skinned Girl

Cloé Luv, an "unapologetically" dark-skinned Black woman tells her story ...

The ACA Has Never Been More Critical

Today I'm honoring the 10th anniversary of the Affordable Care Act being signed into law. ...

NAACP/Black Community: A Model for Resiliency

As America enters perhaps the most uncertain period in modern history, we will all be tested in new and unpredictable ways. ...

AFRICAN AMERICANS IN THE NEWS

Mississippi court won't undo 12-year sentence for jail phone

JACKSON, Miss. (AP) — An attorney says he will ask the U.S. Supreme Court to overturn the 12-year prison sentence given to an African American man in Mississippi for carrying his mobile phone into a jail cell after he was arrested on a misdemeanor charge.The Mississippi Supreme Court said...

Joe Biden's next big decision: Choosing a running mate

Joe Biden faces the most important decision of his five-decade political career: choosing a vice president.The presumptive Democratic presidential nominee expects to name a committee to vet potential running mates next week, according to three Democrats with knowledge of the situation who spoke on...

What you need to know today about the virus outbreak

A staggering 16.8 million Americans have been thrown onto the unemployment rolls in just three weeks, underscoring the terrifying speed with which the coronavirus outbreak has brought world economies to a near standstill.Meanwhile, residents in Wuhan, China, t he city where the coronavirus pandemic...

ENTERTAINMENT

Devils defenseman P.K. Subban is host of new NHL trivia show

Tired of sitting around the house and watching reruns on television every day?Too much Harry Potter? Monk? Grey's Anatomy? NCIS or one of the spinoffs?Here's something different.New Jersey Devils defenseman P.K. Subban and the NHL are bringing something new to television Saturday for fans and...

Review: In 'Tigertail,' an intergenerational immigrant tale

Oh, to be the other “Tiger” on Netflix. Alan Yang's “Tigertail” is either blessed to arrive in the stormy wake of “Tiger King," or doomed to be the other “Tiger” title Netflix users accidentally select when they're looking for the tabloid story of a...

Los Angeles adds new sexual battery count against Weinstein

LOS ANGELES (AP) — Los Angeles prosecutors have charged imprisoned former film producer Harvey Weinstein with an additional count of felony sexual battery by restraint.The district attorney’s office said the charge was filed over allegations the former movie mogul sexually assaulted a...

U.S. & WORLD NEWS

Apple, Google to harness phones for virus infection tracking

Apple and Google launched a major joint effort to leverage smartphone technology to contain the COVID-19 pandemic....

Israelis looking out for overworked healthcare professionals

RAANANA, Israel (AP) — While hunkering down at home and keeping three young children entertained in...

A conundrum for New Yorkers: Social distancing in the subway

NEW YORK (AP) — They let trains that look too crowded pass by. If they decide to board, they search for...

In Mexico, beach towns block themselves off because of virus

MEXICO CITY (AP) — In Mexico, beach towns have begun blocking off roads — in some cases,...

Nurses weigh their principles vs safety in virus fight

Paramedics rushed another critical COVID-19 patient into the emergency room, and Chicago nurse Cynthia Riemer felt...

Fire, rioting breaks out at Siberia prison

MOSCOW (AP) — Russian officials said a large fire was blazing Friday at a prison in Siberia where inmates...

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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