
01/19/05, 12:20 PM
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Join Date: Aug 2003
Posts: 144
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Unfortunately, I have a bad taste in my mouth from Habitat For Humanity. It may only be a portion of their funding but they accept funding and assistance from The PMI Group. The PMI Group, in turn, owns 57% of a mortgage servicing company formerly known as Fairbanks Capital Corp. As of 07-01-04 Fairbanks changed their name to Select Portfolio Servicing. This was due to the fact that they had settled a national class action suit (USA/Curry v. Fairbanks) against them which alleged various charges. These charges amounted pretty much to quite literally stealing a victim's house from them by illegally foreclosing on them after fabricating bogus fees. I was one of the 750,000 victims certified by the Federal Trade Commission as a class member for that suit. I opted out of that suit because it did not provide any protection or restitution for the victims whatsoever. Fairbanks was allowed to put up $40 million in exchange for not having to admit any wrongdoing. That's roughly $53 apiece for each victim if split evenly, which it wasn't.
My point, here, is simply that The PMI Group makes itself look wonderful in the eyes of John Q. Public by supporting programs like Habitat For Humanity and building homes with the right hand while the left hand, in the form of Fairbanks/SPS, is stealing homes back from hard working Americans that really have no idea what is being done to them. It may be narrow minded on my part but I do not like the politics that Habitat appears to play. They do not appear, to me at least, to have any concern as to where their money or assistance comes from. Of course, I'm still fighting for my house and have been for more than two years now....
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