06-25-2022  1:52 pm   •   PDX and SEA Weather
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NORTHWEST NEWS

Abortion Remains Legal, Accessible in Oregon in Wake of Supreme Court Ruling

Decision has no effect on Oregon’s Reproductive Health Equity Act that guarantees right to receive abortion, health care providers’ right to provide it

Black Man Police Killed in Clackamas County ID'd, Police Say He Had Gun

The shooting is being investigated by the Oregon City and Lake Oswego police departments.

WA, OR Leaders Skeptical About Pausing Gas Taxes

President Joe Biden on Wednesday urged Congress to suspend federal gasoline and diesel taxes for three months and urged states to do the same at the local level.

Mother-Daughter Mental Health Professionals Launch Organization for Black Professional Women

Mo Better Wellness, Connection, and Facilitation will offer wellness events and consulting.

NEWS BRIEFS

Increased Emergency Snap Benefits Continue in July

Approximately 422,000 households will receive an estimated million in extra food benefits ...

Opacity of Performance: Takahiro Yamamoto Opens at PAM

The Portland Art Museum marks a return to live art inside its galleries with a dance installation by Takahiro Yamamoto, the museum’s...

Portland's First Black Book Festival Launches on Juneteenth Weekend

She’s bringing together the community through books! ...

Juneteenth Events

Juneteenth Oregon Celebration was founded 50 years ago by the late and beloved community leader Clara Peoples. View Juneteenth events...

Portland Public Schools Expands Weapons Ban

The action follows a bill the Oregon Legislature passed earlier this year giving schools the ability to prohibit concealed carry...

10 arrested in Eugene protest over abortion ruling

EUGENE, Ore. (AP) — Police in Eugene say 10 people were arrested during a Friday night protest following the U.S. Supreme Court's decision to overturn the landmark abortion rights case Roe v. Wade. The arrests were mostly for disorderly conduct, Portland television station KOIN...

Inslee seeks abortion rights amendment to state constitution

OLYMPIA, Wash. (AP) — Washington Gov. Jay Inslee said he will push for a state constitutional amendment to protect abortion rights within his state's borders, as well as laws that will make it difficult for other states to investigate whether their own residents have visited Washington for...

OPINION

Quenn Tiye’s Kitchen

Centuries of indoctrination have ingrained into the minds of white and Black Americans that any aspect of Africanness is negative. ...

The Plan for Transforming Public Safety and Policing in the U.S.

Rising crime leaves communities feeling unsafe, however, police violence and killings of unarmed civilians demonstrate that pouring more money into more-of-the-same policing is not the answer. ...

What Is Afrofuturism? An English Professor Explains

Chambliss defines Afrofuturism as an intersection of speculation and liberation that’s inspired by the concerns of people of African descent. ...

Reflections on the Massacre of the Buffalo 10 & Racism

Former NY state senator and Buffalo native knew many of the people killed ...

AFRICAN AMERICANS IN THE NEWS

LAPD officer who died was beaten in training, mother claims

LOS ANGELES (AP) — A Los Angeles police officer who died of neck injuries suffered during training had been beaten by fellow officers in an exercise meant to “simulate a mob,” according to a wrongful-death claim filed against the city by his mother. Houston Tipping, 32, was hurt...

Religious schools may face another hurdle to state tuition

AUGUSTA, Maine (AP) — Religious schools got what they wanted when the Supreme Court allowed them to participate in a state tuition program. But the state attorney general said the ruling will be for naught unless the schools are willing to abide by the same antidiscrimination law as...

To some defenders, gun ruling could right a racial wrong

NEW YORK (AP) — When the U.S. Supreme Court struck down New York's tight restrictions on who can carry a handgun, condemnation erupted from liberal leaders and activists. But some public defenders, often allies of progressive activists, praised the court's ruling, saying...

ENTERTAINMENT

Review: Austin Butler, Baz Luhrmann deliver a grand ‘Elvis’

The brief life of Elvis Presley is not something that fits neatly into a conventional biopic formula, though many have tried. It was, perhaps, always going to take a director as wild and visionary as Baz Luhrmann to do something that evokes the essence of the King’s 42 years. Luhrmann knows...

John Williams, 90, steps away from film, but not music

NEW YORK (AP) — After more than six decades of making bicycles soar, sending panicked swimmers to the shore and other spellbinding close encounters, John Williams is putting the final notes on what may be his last film score. “At the moment I’m working on ‘Indiana Jones 5,’...

Director James Burrows looks back on his career in new book

NEW YORK (AP) — James Burrows loves sitcoms, and he should. The 81-year-old has directed more than 1,000 episodes of TV sitcoms, including fan favorites such as “Friends,” “Cheers,” and Will & Grace." He's also directed the pilot episodes for “Frasier,” “Two and a Half Men,”...

U.S. & WORLD NEWS

To some defenders, gun ruling could right a racial wrong

NEW YORK (AP) — When the U.S. Supreme Court struck down New York's tight restrictions on who can carry a...

Russia fires missiles across Ukraine, cements gains in east

KYIV, Ukraine (AP) — Russian forces are seeking to swallow-up the last remaining Ukrainian stronghold in the...

Pfizer says tweaked COVID-19 shots boost omicron protection

Pfizer announced Saturday that tweaking its COVID-19 vaccine to better target the omicron variant is safe and...

Turkish president: Sweden hasn't alleviated NATO concerns

ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan has told Sweden's prime minister that he has not seen any...

Gabon and Togo admitted into Commonwealth group of nations

KIGALI, Rwanda (AP) — The African nations of Gabon and Togo have been admitted into the Commonwealth group of...

Groups in Spain and Morocco push for border deaths inquiry

MADRID (AP) — Human rights organizations in Spain and Morocco called on both countries to investigate the deaths...

By The Skanner News | 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.)

Jan. 6 Committe Hearings - Day 5

The next hearing will be held sometime in July; an exact date has not yet been announced.

Photo Gallery

Photos and slide shows of local events