Action: SFERS, Please Stop Investing in Wells Fargo!

Posted on January 10, 2013 by admin

Update: ACCE, Occupy Bernal, and Occupy Noe Foreclosure and Eviction Fighters and supporters provided important testimony about the illegal, predatory, and discriminatory practices of banks like Wells Fargo, JP Morgan Chase, and Bank of America at the meeting of the San Francisco Employee Retirement System Retirement Board on January 9, 2013.

The group asked the Retirement Board to investigate the illegal, predatory, and discriminatory practices of the banks, to request that the banks stop these practices, to sponsor shareholder resolutions if they don’t stop, and to divest from the banks’ stocks if the shareholder resolutions do not succeed. Some of the Commissioners responded favorably to the public comment testimony.

Media coverage: San Francisco Business Times KCBS (including audio segment)

Videos and photos:

#1 in SF Foreclosures and Related Evictions: Racist and Predatory

Who: (Retired and Current) City Employees, especially those facing foreclosure/eviction and supporters
What: Public Comment at San Francisco Employees Retirement System (SFERS) Retirement Board Meeting (2 minute limit)
When: 2:00pm, Wednesday, January 9
Where: 30 Van Ness Avenue, 3rd floor (near Market Street)

We are asking SFERS to do the following:

Investigate investments in Wells Fargo, which is #1 in foreclosures and related evictions in San Francisco and elsewhere, as well as other lenders foreclosing on and evicting San Francisco homeowners..
Prepare and submit a Wells Fargo shareholder resolution to stop predatory and/or racist foreclosures and related evictions for consideration at the next annual Wells Fargo shareholder meeting (probably in April 2013).
If Wells Fargo doesn’t adopt the shareholder resolution at its next shareholder meeting and take immediate steps to implement policies and practices in line with the resolution, then divest from any investment in Wells Fargo within three months after that shareholder meeting.

We are asking San Francisco Mayor Lee to do the following:

Appoint only qualified candidates to the SFERS Retirement Board who are not executives or employees at Wells Fargo, JP Morgan Chase, or Bank of America (the top three in predatory foreclosures and related evictions in San Francisco).
Issue a statement in support of divestment from Wells Fargo of all San Francisco City and County funds, including employee retirement and disability funds.

Background:

The San Francisco Employee Retirement Systems (SFERS) handles investments for pension funds for current and retired San Francisco city employees. SFERS has policies that include “Social Investment Procedures” adopted at the SFERS Retirement Board meeting of September 27, 1988, which requires the SFERS Retirement Board when making investments in stocks, mutual funds, and so on, to consider:

“Community Relations: the relationship of the corporation to the communities in which it operates shall be maintained as a good corporate citizen through observing proper environmental standards, supporting the local economic, social and cultural climate, conducting acquisitions and reorganizations to minimize adverse effects and not discriminate in making loans or writing insurance.” (emphasis added by Occupy the Auctions)

Wells Fargo is #1 in San Francisco foreclosures. San Francisco’s Mayor and Board of Supervisors have unanimously requested a halt to foreclosures and related evictions, especially since San Francisco Assessor-Recorder’s report showing that 84% of foreclosures have at least one legal violation and due to Wells’ $175 million settlement with the United States Department of Justice paid in response to allegations of racial discrimination in providing mortgage loans in San Francisco’s Bayview-Hunters Point and other neighborhoods.

Wells Fargo’s “waterfall” model, along with similar policies from other lenders, ensures that the bank can squeeze the most money possible from homeowners struggling to make payments while finally discarding them like trash if the bank can’t make a profit on every single loan. Running a mortgage loan business means assuming risks, especially after receiving billions in bailout funds from the taxpayers, many of whom are Wells’ mortgage loan borrowers.

Wells Fargo is putting 29 families at risk of losing their homes due to foreclosure and related evictions during this holiday season. Wells Fargo is foreclosing on and evicting veterans and disabled and senior homeowners and families with children, as well as targeting homeowners with life-threatening illnesses. Wells Fargo has engaged in predatory, fraudulent, and racist lending practices and has contributed to a rash of foreclosure deaths.

This alert brought to you by ACCE, Occupy Bernal, and other supportive organizations coordinated within the Occupy the Auctions and Evictions campaign.

Links: Wells 29 Action Alert Wells 29 Action Flyer (four to page) Wells Pays $175 Million to Resolve Allegations of Racial Discrimination in Providing Mortgage Loans Occupy Our Homes Wells Fargo Bayview Branch Action Occupy Wells Fargo Noe Branch Occupy Wells Fargo HQ Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary) Upcoming Bank Auctions of Foreclosure/Eviction Fighter Homes Foreclosure/Eviction Fighter Profiles

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=7719

“Happy Holidays, Now Get the Hell Out”: Stop San Francisco Ellis Act Evictions!

Posted on December 20, 2012 by admin

Organizers from the Housing Rights Committee of San Francisco, San Francisco Tenants Union, Senior & Disability Action, AIDS Housing Alliance, Causa Justa::Just Cause, Chinatown Community Development Center, Occupy Bernal, Occupy Action Council SF, and other supporters gathered at 12:00 noon on December 19, 2012, to protest a rash of Ellis Act evictions of tenants living in San Francisco. A number of tenants spoke to the crowd in front of the Christmas tree on Castro Street near 18th Street, explaining how they are facing eviction in neighborhoods all over San Francisco when property owners use the Ellis Act to take the property off the rental market as an excuse for evicting them from their homes, including some who are seniors, disabled, living with AIDS, and/or have lived in their homes for decades. Representatives of various organizations spoke and the crowd chanted, displaying protest signs and banners.

Media Coverage: SF Chronicle

Thanks to Peter Menchini for first video below:

Senior and Disability Organizations Move Money Out of Wells Fargo

Posted on December 18, 2012 by admin

Senior and Disability Action and the Grey Panthers announced that they plan to move their money out of Wells Fargo due to Wells’ policies with regard to foreclosures and evictions of senior and disabled folks. Protestors from those and other supportive groups such as Poor Magazine, Occupy Noe, Occupy Bernal, Occupy Action Council SF, and the Alliance of Californians for Community Empowerment (ACCE) gathered at the Wells Fargo bank branch at 1 Grant Avenue in San Francisco at noon on December 18, 2012. Foreclosure and Eviction Fighters including Kathy Galves spoke at the rally.

Media Coverage: Fog City Journal SF Examiner

ACTION: Witness Faulks Eviction — Protest Wells Fargo and DMG!

Posted on December 11, 2012 by admin

Update as of about 7am on December 13, 2012: DMG Asset Management attorney Jak Marquez and Sheriff’s deputies evicted Larry Faulks. He’s now on the road, sleeping in his van.

Update as of 7:30pm on December 12, 2012: Greeted by a rainbow and a light rain shower, a group of about 30 supporters of Larry Faulks came to his home to bear witness the eviction, including holding up signs and banners, lots of friendly discussion, wonderful hot cappuccinos and tea from Larry’s brother, and a carol rendered as “Silent Night, Homeless Night” thanks to Tommi Avicolli-Mecca. We also made calls to DMG Asset Management principals and Wells Fargo Senior Vice President of Community Relations Brenda Wright to try to get them to stop the eviction. When the eviction hadn’t materialized by 11:30am or so, so a group of us took Larry out to lunch, then he requested that we head on our way while he went back to take a nap.

Media coverage: Bay Area Reporter

Video and photos of the event appear below. Thanks to everyone who participated.

Foreclosure and Eviction Fighter Larry Faulks’ eviction has been delayed for the last time.

What: Larry Faulks Eviction Witness

When: 8am (check back for updates) on Wednesday, December 12

Where: 25 Cameo Way, Diamond Heights, San Francisco (map, buses 52, 48, 37, plan for tricky routes!)

Stay tuned for the gathering time which we will post on the web page at http://occupytheauctions.org/wordpress/?p=6915.

Investment firm DMG Asset Management plans to evict disabled African-American senior Larry Faulks even after they agreed to postpone the eviction to work with him and his family on negotiations with Wells Fargo. Wells Fargo has not yet agreed to rescind the foreclosure sale of Larry’s home, which they did while negotiating a loan modification with him. This practice is called dual tracking and it will be illegal in California starting January 1, 2013, under the 2012 Homeowner Bill of Rights.

Please take action:

Come to the Eviction Witness on Wednesday, December 12. Time is tentatively scheduled for 8:00am (will post updates to this page).
Respond to the Wells Fargo action alert to try to stop the eviction.
Respond to the DMG Asset Management action alert to try to stop the eviction.

Larry Faulks and his brother — both disabled — as well as their renter want to stay in the home their parents purchased in 1962. The Faulks’ were the first African-American family in the Diamond Heights neighborhood and at a time when only the Eichler company was willing to sell homes to black families. Please come to the Eviction Witness (there may be an opportunity for those who wish to participate in nonviolent direct action to block the eviction).

Links: Wells 26 Action Flyer (four to page) Wells Pays $175 Million to Resolve Allegations of Racial Discrimination in Providing Mortgage Loans Larry Faulks Profile Larry Faulks Eviction Witness DMG Asset Management Profile Occupy DMG Home Action Occupy Wells Fargo Noe Branch SF Chronicle Coverage Bay Area Reporter Coverage Occupy Wells Fargo HQ Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary) Upcoming Bank Auctions of Foreclosure/Eviction Fighter Homes Foreclosure/Eviction Fighter Profiles

ALERT: Demand PennyMac Stop Holiday Eviction of Alice Smith and Five Children

Posted on December 3, 2012 by admin

Update: PennyMac sold Alice Smith’s home to an investment group that is helping her to remain in her home.

Update as of December 1, 2012: PennyMac staff have agreed to postpone the eviction of Alice Smith so that the bank can negotiate with her on reducing her home sale price for her. Please continue calling and emailing until PennyMac makes a fair offer.

Alice Smith is an incredible asset to our community. As a consistent caregiver for five special needs children, she has created a supportive and welcoming home.

Citigroup and PennyMac plan to evict her during the holiday season~~, currently scheduled for Wednesday, November 28~~.

Due to care funding cuts, retirement from a job outside the home, and a Vietnam veteran husband who cut off all contact and refused support due to PTSD, Alice’s income declined for awhile and she wasn’t able to make all her mortgage payments. However, she hung in there and provided consistent care for her children even during a period of financial trials and tribulations.

Since that time, her income has recovered so that she can afford a fair deal loan modification.

Let’s help her get PennyMac to either a) rescind eviction proceedings so Alice can obtain that fair deal loan modification from CitiMortgage and make payments to remain in her home with her five children, or b) sell her home to a supportive investment group at the fair price of $450,000, rather than the $510,000 PennyMac has negotiated so far, so that Alice can participate in an affordable buyback program so she and the children can remain in her home for the holidays and beyond.

Please take action to help Alice Smith and her five children stay in their home for the holidays–

1) Call and email PennyMac with the following message:

* Stanford Kurland, Chairman and CEO, +1 818-224-7442 (then type 1 for directory, then first three letters of last name, i.e. 587, then 1 to confirm)
* David Spector, Chief Investment Officer, +1 818-224-7442 (then type 1 for directory, then first three letters of last name, i.e. 773, then 1 to confirm)
* Christopher Oltmann, Director of Investor Relations, +1 818-746-2046 (leave voicemail) or +1 818-224-7028

Sample Email:

To: stanford.kurland@pnmac.com, david.spector@pnmac.com, chris.oltmann@pnmac.com, InvestorRelations@pnmac.com, denise.bounce@pnmac.com
Cc: action@occupytheauctions.org
Subject: Stop the Holiday Eviction of Alice Smith and Five Children

Please stop the holiday eviction of Alice Smith of 15 Le Conte Circle in San Francisco scheduled for Wednesday, November 28. She is a senior and an incredible asset to our community as a caregiver for five special needs children. Although she got behind on mortgage payments to CitiMortgage (loan #1000031156) when reductions in care reimbursements and other circumstances lowered her income, her income has recovered and she can afford to make payments on a fair mortgage loan. Please do the right thing and work with her to 1) stop Alice Smith’s eviction and either 2a) offer her (or make it possible for Citibank offer her) a fair, affordable loan modification, or 2b) sell her home to a supportive investment group at the fair price of $450,000, rather than the $510,000 PennyMac has negotiated so far, so that Alice can participate in an affordable buyback program and she and the children can remain in her home for the holidays and beyond.

Sincerely,

your name

(Note: Faces of the children cannot be shown because they are wards of the state.)

Links: Alice Smith Action Flyer (four per page)

For updates and this action alert: http://occupytheauctions.org/alice

ALERT: Eviction Witness for Larry Faulks – Protest DMG Asset Management and Wells Fargo!

Posted on November 14, 2012 by admin

Update: Larry’s eviction has been delayed probably for the last time and is scheduled for Wednesday, December 12. Please respond to the Wells Fargo action alert to try to stop the eviction.

Update as of 12:10pm on November 14, 2012: Larry Faulks’ eviction postponed by two weeks until Wednesday, November 28. Please mark your calendar in case DMG and Wells haven’t come to their senses.

Keep those calls to DMG coming! (see numbers below).

Link: Video and photos of Eviction Witness action

Investment firm DMG Asset Management plans to evict disabled African-American senior Larry Faulks today even after they agreed to postpone the eviction to work with him and his family on negotiations with Wells Fargo.

Larry Faulks and his brother — both disabled — as well as their renter want to stay in the home their parents purchased in 1962.

DMG plans to evict Larry at 1:00pm today, Wednesday, November 14.

Please take action to help the Faulks family–

Please come to this action–

What: Eviction Witness Action
When: 12:30pm, Wednesday, November 14
Where: Larry Faulks’ home at 25 Cameo Way, San Francisco (Diamond Heights neighborhood)
Call DMG management, their real estate agent, and their attorney with the following message:
- Daniel Woo, +1 415-706-6170
- Angela Woo Lee, +1 415-420-8881
- Gilbert Chung, +1 916-947-8625
- Marcus Lee, +1 415-999-2022 (real estate agent)
- Jak Marquez, +1 415-495-8500 x12 (attorney)
Sample message:

Please stop the eviction of Larry Faulks and his brother — both disabled — as well as their renter. The Faulks family has lived in the family home at 25 Cameo Way in San Francisco for 50 years. Wells Fargo promised in writing not to foreclose on the Faulks during the modification process, but instead sold the property to you. DMG agreed to postpone the eviction to work out a plan to sell the property back to Wells Fargo at the price you paid, so that Wells Fargo can offer the Faulks family a loan modification to remain in their home.

Please don’t put disabled African-American seniors out onto the streets.

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=5948

Links: Larry Faulks Profile DMG Asset Management Profile Occupy DMG Home Action Occupy Wells Fargo Noe Branch Bay Area Reporter Coverage Occupy Wells Fargo HQ Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary)

Videos and Photos

ALERT: Fannie Mae Stop the Evictions of African-American Senior Betty Davis and Disabled Senior Veteran Alfred Richardson

Posted on November 5, 2012 by admin

Fannie Mae is evicting African-American seniors like 70-year-old Betty Davis and 75-year-old disabled veteran Alfred Richardson.

Please take action to stop these immoral evictions–

Call and email Fannie Mae with the following message:

Timothy Mayopoulos, CEO, +1 202-752-7144
Kristy Williams Fercho, Senior VP Customer Management Western Region, +1 626-396-5100 (ask for Kristy’s voicemail)

Sample message:

To: timothy_mayopoulos@fanniemae.com, philip_laskawy@fanniemae.com, kristy_williams_fercho@fanniemae.com, katrina_jones@fanniemae.com, carlus_k_flowers@fanniemae.com, kelli_parsons@fanniemae.com
Cc: action@occupytheauctions.org
Subject: Stop Evicting African-American Seniors Betty Davis (loan #187240982) and Alfred Richardson (loan #19167165)

Please stop immediately the immoral evictions of African-American seniors Betty Davis (loan #187240982) and Alfred Richardson (loan #19167165) and rescind the foreclosure sales of their homes at 442 Harkness Avenue, San Francisco, CA, 94134, sold on December 20, 2011, and 139 Maddux Avenue, San Francisco, CA, 94124, sold on September 11, 2012, respectively, so that Bank of America can offer them fair loan modifications.

Sincerely,

(your name)

Fannie Mae CEO Timothy Mayopoulos ready to evict African-American senior Korean War veteran Alfred Richardson.

Links: Occupy Fannie Mae Action Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary) Prior Occupy Fannie Mae Action Betty Davis Profile Alfred Richardson Profile

For updates on this alert: http://occupytheauctions.org/wordpress/?p=5487

This alert brought to you by the Stop the Auctions and Evictions Campaign
http://www.stopevictions.org and the Alliance of Californians for Community Empowerment (ACCE) http://www.calorganize.org

ALERT: Demand DMG Assets Stop Eviction of Faulks Family

Posted on November 5, 2012 by admin

Investment firm DMG Asset Management is threatening a San Francisco family with eviction after DMG agreed to postpone the eviction to work with the family on negotiations with Wells Fargo and even though disabled family members can’t find housing elsewhere.

Larry Faulks and his brother — both disabled — as well as their renter want to stay in the home their parents purchased in 1962.

DMG plans to evict Larry on Wednesday, November 7.

Please take action to help the Faulks family–

Call DMG management, their real estate agent, and their attorney with the following message:
- Daniel Woo, +1 415-706-6170
- Angela Woo Lee, +1 415-420-8881
- Gilbert Chung, +1 916-947-8625
- Marcus Lee, +1 415-999-2022 (real estate agent)
- Jak Marquez, +1 415-495-8500 x12 (attorney)
Sample message:

Please stop the eviction of Larry Faulks and his brother — both disabled — as well as their renter. The Faulks family has lived in the family home at 25 Cameo Way in San Francisco for 50 years. Wells Fargo promised in writing not to foreclose on the Faulks during the modification process, but instead sold the property to you. DMG agreed to postpone the eviction to work out a plan to sell the property back to Wells Fargo at the price you paid, so that Wells Fargo can offer the Faulks family a loan modification to remain in their home.

Please don’t put disabled African-American seniors out onto the streets.
Please mark your calendar for a possible eviction defense at 7:00am on Wednesday, November 7.

For updates and this action alert: http://occupytheauctions.org/wordpress/?p=5636

Occupy Fanny Mae to Stop Evictions of Betty Davis and Alfred Richardson

Posted on November 2, 2012 by admin

On November 2, 2012, Foreclosure and Eviction Fighters from the Alliance of Californians for Community Empowerment (ACCE), Occupy Bernal, and the Occupy the Auctions and Evictions Campaign, visited the office of Fannie Mae in San Francisco to demand the halt of the evictions of African-American senior Betty Davis and African-American, senior, disabled veteran Alfred Richardson.

The protestors made it to the front door of the 30th floor office of Fannie Mae at 50 California Street in San Francisco, but unfortunately no one answered the door when they rang and knocked. So, Betty Davis slid her statement and demands under the door and the participants tacked posters to the walls surrounding the Fannie Mae and other 30th floor offices, as well as the bathroom and elevators.

Links: Action Alert Occupy Senior and Veteran Evictions and Foreclosures (Occupy Anniversary) Prior Occupy Fannie Mae Action Betty Davis Profile Alfred Richardson Profile

Occupy Wells Fargo Headquarters to Save the Faulks Home

Posted on October 30, 2012 by admin

Supporters of Foreclosure and Eviction Fighter Larry Faulks gathered at the Wells Fargo headquarters in downtown San Francisco on October 30, 2012, to demand that Wells Fargo rescind the sale of the Faulks home to DMG Asset Management and offer Larry a fair deal loan modification. Larry and his brother are elderly and disabled and don’t deserve to be thrown to the curb after Wells Fargo illegally sold their home at auction while negotiating a loan modification with them (a practice called “dual tracking”). The group also voiced support for Bernetta Adolph of San Francisco, Jacqueline Barber of Georgia, and Ana Casas Wilson in Los Angeles, California, all of whom Wells Fargo is trying to evict.

The group presented more than five hundred signatures to a representative of the bank who accepted them on behalf of Wells Fargo Community Relations Director Brenda Wright and Wells Fargo CEO John Stumpf.

The action was organized by Occupy Noe, Occupy Bernal, and the Alliance of Californians for Community Empowerment (ACCE) with participation from the Occupy Direct Action Workgroup (DAWG) and Community Not Commodity.