06-30-2022  12:16 pm   •   PDX and SEA Weather
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NORTHWEST NEWS

Eugene Woman Attacked With Acid for Third Time Since March

A Eugene, Oregon, woman who had acid thrown on her while walking her dog in March has been the target of two additional acid attacks at her home

Minimum Wage Increase Initiative Qualifies in WA City

An initiative to increase the minimum hourly wage in Tukwila, Washington, by more than has qualified for the November ballot.

Sydney McLaughlin Does It Again, Breaks Own World Record

When asked how she was going to celebrated afterward, McLaughlin joked: “Eating some real food besides vegetables. Like a cheeseburger or something, some pancakes.”

Inslee Seeks Abortion Rights Amendment to State Constitution

Gov. Jay Inslee will push for a state constitutional amendment to protect abortion rights within the state, and laws that make it difficult for other states to investigate whether their own residents have visited Washington for abortion care.

NEWS BRIEFS

KGW and TEGNA Foundation Award $40k in Community Grants to Aid Four Oregon Nonprofit Organizations

Among the grant recipients are Urban Nature Partners PDX, Self Enhancement, Inc (SEI), Portland YouthBuilders (PYB), and p:ear. ...

Hawthorne, Morrison Bridges Will Close to Motorized Vehicles for July 4 Fireworks Show

The bridges will remain open for bicyclists and pedestrians. ...

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! ...

80 people in Oregon’s federal prison go on hunger strike

SHERIDAN, Ore. (AP) — Oregon’s federal public defender says dozens of people inside the state’s only federal prison have been on a hunger strike protesting conditions inside the facility. “We heard last week that some incarcerated people had started a hunger strike, and the...

Sept. 11 families plan protest as LIV tees off in Oregon

NORTH PLAINS, Ore. (AP) — LIV Golf’s first U.S. event was set to begin Thursday, with a group of survivors and families who lost loved ones in the Sept. 11 terror attacks planning to gather at a nearby park to speak out against the Saudi Arabia-funded tour. Brett Eagleson was 15...

OPINION

Justice Clarence Thomas and the Conservative Supreme Court Have Fanned the Flames of Racism in America

Former President Donald Trump’s Make America Great Again cry proved an easy between-the-lines moniker, but even that stood as a dog whistle – until now. ...

Portland Will Be Center of the Golf Universe as $25 Million Event Debuts in the Rose City

The last time Oregon hosted a PGA Tour event was the Portland Invitational Open back in 1966. ...

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. ...

AFRICAN AMERICANS IN THE NEWS

Jackson sworn in, becomes 1st Black woman on Supreme Court

WASHINGTON (AP) — Ketanji Brown Jackson was sworn in to the Supreme Court on Thursday, shattering a glass ceiling as the first Black woman on the nation’s highest court. The 51-year-old Jackson is the court’s 116th justice, and she took the place of the justice she once worked...

Lewis Hamilton pushes back against 'old voices' over racism

SILVERSTONE, England (AP) — Lewis Hamilton said Thursday that Formula One should ignore “old voices” and reject racism as it focuses on becoming more inclusive, even as reigning world champion Max Verstappen said his “father-in-law” should not be banned from the F1 paddock. ...

Ketanji Brown Jackson sworn in to Supreme Court, becomes first Black woman on nation's highest court

WASHINGTON (AP) — Ketanji Brown Jackson sworn in to Supreme Court, becomes first Black woman on nation's highest court....

ENTERTAINMENT

DeBose, Kotsur, Eilish among 397 invited to film Academy

Recent Oscar winners Ariana DeBose, Troy Kotsur and Billie Eilish are among the 397 individuals who have been invited to join the Academy of Motion Picture Arts and Sciences. The organization that puts on the Oscars said Tuesday that 44 percent of the 2022 class identifies as women,...

Bonnaroo, a leader in green fests, faces climate change risk

MANCHESTER, Tenn. (AP) — Since its debut on a rural Tennessee farm two decades ago, the Bonnaroo Music and Arts Festival strived to be one of the country’s greenest music festivals, investing in recycling, composting, solar energy and other improvements. But last August Tennessee...

Author Jesmyn Ward wins Library of Congress fiction prize

The 2022 Library of Congress Prize for American Fiction has gone to Jesmyn Ward, who at 45, is the youngest person to receive the library’s fiction award and is being honored for her lifetime of work examining racism and social injustice. Ward's “Salvage the Bones” earned the...

U.S. & WORLD NEWS

Supreme Court to hear case on state authority over elections

The U.S. Supreme Court on Thursday agreed to hear a case that could dramatically change the way elections for...

Justice Department to probe work of NYPD sex crimes unit

NEW YORK (AP) — The U.S. Justice Department has launched a probe of the New York Police Department unit that...

Alabama cites abortion ruling in transgender medication case

MONTGOMERY, Ala. (AP) — Days after the U.S. Supreme Court ruled that states can prohibit abortion, Alabama has...

European court bumps youths' climate case to top-tier panel

BERLIN (AP) — The European Court of Human Rights said Thursday that a complaint against 33 countries filed by...

WHO: COVID-19 cases rising nearly everywhere in the world

GENEVA (AP) — The number of new coronavirus cases rose by 18% in the last week, with more than 4.1 million cases...

France's Macron urges world leaders to better protect oceans

LISBON, Portugal (AP) — French President Emmanuel Macron urged other world leaders Thursday to better protect...

Les Christie CNN Money

NEW YORK (CNNMoney) -- The nation's five largest banks have provided nearly $10.6 billion in mortgage relief to homeowners under a settlement that was struck with the states and federal government earlier this year, according to a preliminary progress report.

The report was issued by the Office of Mortgage Settlement Oversight, which is monitoring the $25 billion settlement. In total, the five banks -- Bank of America, Wells Fargo, Citibank, JP Morgan Chase, and Ally Financial -- have helped some 138,000 homeowners and have offered relief averaging $76,615 per borrower between March 1 and June 30, the office reported.

Nearly half of the total, $4.9 billion, comes from Bank of America. Ally Financial, the smallest of the lenders, has submitted just over $500 million in claims.

The settlement was meant to atone for foreclosure processing abuses dating back to 2008. Under the deal, which was approved by a federal judge in April, the banks get credit for helping homeowners avoid foreclosure, by doing such things as reducing the principal on loans and refinancing mortgages to lower interest rates.

So far, though, most of the credits banks have received for relief efforts -- 80% -- have been for debt forgiveness for deed in lieu of foreclosure or short sales. In a deed in lieu, homeowners hand over ownership of their home to the bank in exchange for debt forgiveness. In a short sale, homeowners sell their home at a price that is less than what they owe the bank and the bank agrees to absorb the loss.

In both cases, homeowners ends up losing their home. Not only that, but the hit on their credit score makes it harder to secure a mortgage in the future.

Of the $10.6 billion in relief lenders have given to homeowners under the deal, $8.6 billion has gone toward short sales and deed-in-lieu of foreclosures, according to the report. Bank of America provided some $4.8 billion in relief through this method, the most of any lender, while Chase came in second with $2.4 billion.

"Short sales are quick and dirty [modifications]," said Geoff Greenwood, communications director for the Iowa attorney general's office. "That's why you're seeing more of them coming out of the chute."

But there is a cap on how much lenders can claim for short sales under the settlement deal, explained Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development. Once banks reach their limits, they won't be able to claim anything more under the settlement.

Conspicuously lacking so far is anywhere near the $17 billion in principal reduction that lenders have promised under the deal. Lenders had said they would reduce the balance owed on mortgages for those who either owed far more on their homes than they were worth or who were behind on payments. The aim was to get the mortgage balance closer to the home's value, reduce the borrower's monthly payments and help them avoid foreclosure.

However, only some $1 billion in principal reductions have occurred thus far, according to the report. Just 7,093 borrowers had their principal forgiven on their first mortgages -- for a total of $749 million. The remainder was on second mortgages.

Of the five lenders, Chase had completed the most modifications on first mortgages, $376 million worth. In contrast, Bank of America submitted no modification claims on first mortgages between March and June. However, it has started nearly $2 billion trial modifications that were moving through the trial process, more than any other bank. In second place for trial mods was Chase with $1.2 billion that were offered or approved.

Those numbers should increase dramatically, however, since many modifications have yet to be counted. Donovan said they structured the settlement to require borrowers to keep up payments during a 90-day trial period before they're considered successful modifications. At that point, the monitor will credit the cost of the modification to the bank's account.

Currently, more than 28,000 trial modifications of all types are in progress, said Donovan. He said an additional $3 billion worth of modifications should be included in the first official report to be released in November.

"The banks are heading in the right direction," said Donovan. "This will deliver real relief to consumers."

Jan. 6 Committe Hearings - Day 6

A suprise hearing with newly discovered evidence will be held Tuesday, June 28 at 9:45 a.m. PT (12:45 p.m. ET).

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