►
Description
The Committee on Housing, Neighborhood Development and The Homeless of the Council of the City of Philadelphia held a Public Hearing on Wednesday, December 14, 2022, at 9:30 AM to hear testimony on the following items:
220819
Resolution authorizing the City Council Committee on Housing, Neighborhood Development, and the Homeless to hold public hearings examining MV Realty of Pennsylvania LLC and their Homeowner Benefits Agreement and the impact these agreements may have on Philadelphia homeowners.
B
Public
hearing
as
follows:
due
to
the
current
Public
Health
Emergency
city
council
committees
are
currently
meeting
remotely.
We
are
using
Microsoft
teams
to
make
these
remote
hearings
possible
instructions
for
how
the
public
May
View
and
offer
a
public
testimony
at
public
hearings
of
council
committees
are
included
in
the
public
hearing,
notices
that
are
published
in
The,
Daily,
News,
Inquirer
and
legal
Intelligencer
prior
to
the
hearings
and
can
also
be
found
on
phlcounsel.com
I
now
note
that
the
hour
has
come
Sydney
shirls.
Will
you
please
call
the
roll
to
take
attendance
members
that
are
in
attendance?
B
Wonderful,
thank
you.
A
quorum
of
the
committee
has
been
established
and
this
hearing
is
now
called
to
order.
This
is
the
public
hearing
of
the
committee
on
housing,
neighborhood
development
and
the
homeless.
Regarding
resolution
number
220819,
Mr
Charles.
Will
you
please
read
the
title
of
the
legislation.
B
Before
we
begin
to
hear
testimony
from
the
witnesses
we
have
for
today,
everyone
who
has
been
invited
to
the
meeting
to
testify
should
be
aware
that
this
public
hearing
is
being
recorded
because
the
hearing
is
public.
Participants
and
viewers
have
no
reasonable
expectation
of
privacy.
By
continuing
to
be
in
the
meeting,
you
are
consenting
to
being
recorded
additionally
prior
to
recognizing
members
for
the
questions
or
comments
they
have
for
Witnesses.
B
The
chat
feature
must
only
be
used
for
this
purpose
before
we
begin
I'd
like
to
make
a
few
remarks
about
the
legislation
before
this
committee
today,
recently,
council,
president
Clark
and
his
staff
brought
it
to
council's
attention
that
there
was
a
real
estate
company,
Under
Fire
for
deceptive
practices
that
are
negatively
impacting
homeowners
in
our
city,
specifically
black
and
brown
homeowners.
The
homeowners
who
are
here
to
testify
today
entered
into
homeowner
benefit
agreements
within
MV,
Realty
and
unknowingly
signed
contracts.
B
With
40-year
terms
providing
the
company
with
exclusive
rights
for
the
opportunity
to
sell
the
home
with
the
homeowner
receiving
a
mere
few
hundred
dollars
as
compensation
to
enforce
these
rights,
MV
Realty
recorded
mortgages
against
the
homes
unbeknownst
to
the
homeowners.
We're
here
today,
because
these
philadelphians
feel
like
they've,
been
deceived,
and
it
is
our
job
as
elected
officials
to
protect
our
most
vulnerable
residents
from
practices
that
seek
to
deprive
them
of
their
home
ownership
rights
and
their
familial
wealth.
B
Just
this
morning,
the
Pennsylvania
Attorney
General's
office
filed
suit
against
MV
Realty
for
deceptive
practices,
alleging
that
MV
Realty
has
been
recording
mortgages
on
consumers
homes
without
their
knowledge,
with
more
than
500
mortgages
recorded
in
just
two
years.
We
must
take
a
thorough
look
into
MV
Realty
in
its
practices
to
ensure
that
our
residents
are
not
being
exploited.
I'd
like
to
thank
council
president
Daryl
Clark
for
calling
this
hearing
are
there
any
other
members
of
the
committee
that
would
like
to
give
any
opening
remarks.
E
E
Think
the
message
today
that
the
press
press
release
that
we
saw
lets
us
know
how
serious
of
a
matter
this
is
and
what
it
does
to
our
residents
here
in
the
city
of
Philadelphia
and
I,
really
appreciate
you
bringing
this
to
light
and
looking
forward
to
making
sure
the
people
who
do
this
are
held
accountable.
Thank
you.
G
H
Very
thank
you,
chair
Gautier
and
members
of
the
committee
about
the
opportunity
to
testify
about
the
troubling
practices
of
MV
Realty
and
the
impact
on
our
clients.
My
name
is
Carrie
Smith
and
I'm,
an
attorney
with
the
homeownership
and
consumer
rights
unit
at
Community,
Legal
Services
as
Council
knows,
CLS
provides
free
legal
services
to
low-income
philadelphians
on
a
range
of
civil
matters,
and
we
dedicate
substantial
resources
to
saving
and
protecting
homes
of
low-income
individuals
and
families.
In
Philly
earlier
this
year,
several
legal
help
from
CLS
believing
they
had
fallen
victim
to
a
deed
theft
scam.
H
They
had
received
a
notice
from
the
Philadelphia
Department
of
Records,
informing
them
that
a
document
had
been
recorded
against
their
property
and
they
feared
that
someone
had
created
a
fraudulent
deed,
transferring
the
ownership
of
their
home.
We
investigated
and
discovered
a
different
kind
of
a
scam.
A
real
estate
company
by
the
name
of
MV
Realty,
is
running
a
predatory
home
equity
stripping
scheme,
tricking
homeowners
into
giving
up
thousands
of
dollars
of
their
most
valuable
asset,
their
home.
H
The
company
promises
homeowners
a
few
hundred
dollars
of
quick
and
easy
cash,
but
then
traps
them
into
a
mortgage
through
which
they'll
be
paying
thousands
for
any
transfer
of
their
home
over
the
next
40
years.
The
schemes
operating
in
at
least
33
States
flourishing
here
in
Philadelphia,
where
the
company
is
recorded
over
500
mortgages
in
the
last
two
years,
the
vast
majority
of
which
are
neighborhoods
with
high
concentrations
of
black
and
brown
homeowners
based
on
our
clients.
Experiences
these
mortgages
are
the
result
of
unfair
and
deceptive
practices.
H
Much
like
the
predatory
lenders
of
the
stuff
of
my
mortgage
crisis,
MV
Realty
engages
in
aggressive
and
abusive
tactics
designed
to
extract
wealth
from
Philadelphia
homeowners,
especially
Bracken,
black
and
brown
homeowners.
Here's
how
the
operation
works.
Essentially,
they
lure
homeowners
into
the
scheme
with
a
promise
of
300
to
5
000
in
cash.
A
cash
payment
through
a
loan
Alternative
Program
homeowners
report
receiving
telemarketing
calls
social
media
advertisements
even
knocks
on
their
door
from
Representatives
MB
Realty
peddling
the
homeowner
benefit
program.
H
It
offers
quick
cash
that
they
can
use
for
home
repairs
or
other
necessities,
and
Company
Representatives
tell
homers
that
the
cash
is
a
gift
that
doesn't
need
to
be
repaid
and
that
they're
only
required
to
use
MD
Realty
as
their
real
estate
agent.
Should
they
choose
to
sell
their
home
in
the
future,
and
then
they
reassure
and
emphasize
to
homeowners.
If
they're
under
no
obligation
to
sell,
they
then
quickly
send
a
notary
to
the
homeowner
to
sign
paperwork
to
finalize
the
deer
deal.
H
They
typically
will
send
a
notary
to
the
customer's
home
to
sign,
often
the
same
day
or
the
day
after
the
first
Contact
and
clients
have
told
us
that
they
were
really
rushed
through
that
process
without
any
explanation
of
the
documents
and
the
notary
did
not
leave
them
with
a
copy
of
the
paperwork
they
signed.
Some
clients
later
received
a
copy
of
the
paperwork
in
the
mail.
Others
had
to
ask
multiple
times
for
the
documents
that
they
had
signed.
H
Some
have
never
received
copies
of
their
documents
and
the
terms
of
the
contract
are
very
complex
and
they
go
well
beyond
simply
having
to
use
the
company
as
a
real
estate
agent.
If
the
homeowner
lists
their
property
for
sale,
the
contract
is
called
the
homeowner
benefit
agreement.
It
does
provide
MV
Realty
with
the
exclusive
right
to
serve
as
a
listing
agent
for
the
home
for
40
years.
That's
a
term
that
grossly
exceeds
the
one-year
maximum
term
for
exclusive
exclusive
listing
agreements.
Under
Pennsylvania
law,
but
that's
not
all.
H
In
addition,
MV
Realty
requires
homeowners
to
sign
a
mortgage
to
put
their
home
up
as
a
guarantee
for
any
mortgage.
Any
money
due
under
the
homeowner
benefit
agreement,
and
they
record
that
mortgage
as
a
lien
against
the
home
at
the
Philadelphia
Department
of
Records
all
across
the
Commonwealth
homeowners
have
complained
that
they
were
really
blindsided
by
the
mortgage
reported
on
their
homes.
They
had
no
idea
the
mortgage
was
among
the
set
of
documents
the
notary
brought
to
their
home
to
sign.
H
I
myself
have
spoken
with
a
dozen
homeowners
in
Philadelphia
who
fell
victim
to
the
scheme.
None
of
them
understood
that
they
were
signing
a
mortgage
that
would
be
recorded
against
their
home
and
none
of
them
understood
that
they'd
have
to
pay
MV
Realty
thousands
of
dollars
in
fees
for
any
transfer
of
the
ownership
of
their
home,
even
if
the
company
had
nothing
to
do
with
it,
and
none
of
them
understood
that
they
were
agreeing
to
a
40-year
contract
when
they
learned
of
the
documents
they
had
signed.
H
They
were
shocked,
Angry
and
concerned
about
the
impact
of
the
more
on
their
homes,
and
several
of
those
homeowners
are
ready
to
share
their
stories
today
share
their
stories
with
the
committee.
So
they
can
warn
homeowners
about
the
scheme
and
highlight
the
need
for
Swift
action
against
the
company,
which
we
are
all
thrilled.
We
had
a
little
celebration
in
here
earlier
when
we
learned
that
the
Attorney
General's
office
filed
a
lawsuit
today,
so
one
of
the
homeowners
is
going
to
share
a
story
I'd
like
to
introduce
to
the
committee.
His
name
is
Timothy
Calhoun.
G
G
And
January
of
this
year,
an
advertisement
from
MV
Realty
homeowner
benefit
agreement
popped
up
on
my
social
media,
feed
I
called
the
company
to
learn
more.
They
promised
me
640
if
I
agreed
to
use
them
as
my
real
estate
agent
if
I
decided
to
sell
my
home-
and
that
was
it
that
there's
so
many
there
will
be
no
I'll,
be
under
no
obligation
to
sell
my
home,
but
if
I
did
choose
to
put
it
on,
the
Mark
I
would
have
to
give
them
the
first
chance
to
sell
it.
G
They
told
me
if
they
were
unable
to
find
a
buyer
within
six
months.
Then
the
contract
would
be
over.
That
turned
out
to
be
a
lie,
but
I
didn't
know
that
when
everybody
says
someone
in
my
house
with
documents
for
me
to
sign
it
did
not
leave
leave
with
copies
of
the
papers.
I
had
to
keep
calling
and
be
ability
to
get
copies
several
times.
The
documents
made
a
lot
I
learned
through
a
notice
from
the
city
of
Philadelphia
Department
of
Records
that
a
mortgage
was
recorded
on
my
home.
G
G
I
went
to
the
city,
the
lawyers
at
CLS,
because
I
noted
that
they're
for
the
community
and
learn
from
that
comp
I
learned
from
that
meeting
that
the
company
overestimated
the
value
of
my
property
to
213
000,
where
Redfin
has
enlisted
at
87
000,
which
becomes
a
part
of
the
6399
dollars
that
they
want
from
me.
If
I
was
to
make
any
move
with
my
property
I
don't
want
to
sell
my
home,
but
I
do
not
want
to
be
in
this
bad
deal.
Either.
G
B
H
And
and
we're
very
thankful
for
both
homeowners
who
are
sharing
their
story
with
us
today,
Envy
Realty
doesn't
just
have
unfair
substantive
terms
in
their
contract.
The
contract
is
also
procedurally
one-sided
as
well.
It
requires
homeowners
to
give
up
their
right
to
sue
the
company
in
court
and
participate
in
a
class
action,
but
Envy
Realty
can
actually
Sue
consumers
in
court
to
enforce
their
agreement,
and
they
actually
do
that
here.
H
D
Well,
I
was
I'm,
a
big
Sweepstake
fan,
I
always
do
the
real
estate.
I
mean
the
Sweepstake
thing
to
get
in
the
mail,
so
I'll
just
happen
to
be
going
through.
My
mail
and
I
saw
a
check.
Do
I
immediately
opened
it
up
to
see
what
kind
of
check
this
is
who
it's
from
and
it
was
from
MB
Realty
and
it
says,
call
this
number
you
understand
and
we
can
activate
this
check
once
I
called
the
number
they
were
talking
to
me
about
someone
coming
out
to
see
me
before.
D
Activating
the
check
I
had
to
sign
some
papers
and
I
said
well
what
what
am
I
signing
for,
and
they
said
well
you're
signing
papers
in
order
to
receive
the
check
for
365
dollars,
and
it
gives
us
free-
and
you
know
it's
also
going
to
give
us
first
rights
to
sell
you
a
property
password.
Okay.
Well,
there's
no
talk,
there
is
no
obligation
in
this
is,
and
they
told
me
no
and
the
next
thing
I
know.
I'm
receiving
a
letter
told
me
about
a
mortgage
on
my
property.
D
I
had
a
cell,
my
home
of
120
000.
as
is,
and
I,
was
getting
ready
to
take
care
of,
get
that
clue.
I
was
getting
ready
to
start
closure
on
that.
When
I
received,
I
received
a
notice
of
being
taken
to
court
poor
trying
to
look
for
listening
my
property
with
a
different
real
estate
agent
than
MB
Realty.
D
So
I
pulled
everything
off
I
I
canceled
out
on
my
deal
to
sell
the
property
because
I
didn't
know
what
I
was
up
against
I
didn't
want
to
sell
my
property
and
I
ended
up
with
nothing
from
it.
So
I,
just
backed
out
of
everything
and
I,
came
down
here
to
Sierra,
CLS
or
CLS.
When
I
got
it
back
with
you,
I'm
sorry
and
I
I
asked
for
help.
You
know
because
I
didn't
know
what
else
to
do.
Yeah
I
mean
my
mother
had
left
his
property
to
me
or
on
her
deathbed.
D
You
know,
and
actually
it's
a
it's
like
a
dream,
but
the
dream
was
that
I
bought
the
house
for
her
when
I
was
14
through
a
car
accident,
and
then
the
house
becomes
mine
again
and
then
to
have
someone
just
going
to
come
and
try
and
take
everything
from
me.
You
know
and
I
really
don't
know
what
to
do
so.
I
came
down
here
to
CRS
and
they've
been
helping
me
through
this
very,
very
well.
D
You
know
some
days,
I've
been
running,
I
want
to
just
give
up,
and
you
know
let
them
do
what
they
gonna
do
and
once
I
pay
it's
over
with.
You
know
and
I've
even
thought
of
letting
them
just
going
to
them
and
say
all
right.
Give
me
a
hundred
and
twenty
thousand
dollars
and
sell,
sell
this
property
and
bring
me
back
120
000,
because
that's
what
you
cost
me
to
lose
for
six
thousand
dollars,
and
you
know
it's
it's
been,
it's
been
a
hard
time
for
me.
You
know
and.
D
D
H
F
I
had
my
eyes
written
down
because
I
forget
a
lot.
I
just
wanted
to
thank
the
committee
for
bringing
this
to
the
attention
of
of
the
Philadelphia
residents
and
for
stepping
in
Community
Legal
Services.
Stepping
in
and
helping
us
for
this
is
definitely
a
predatory
company.
We
didn't
know
what
we
was
up
against
I
work
hard
to
get.
My
house
I
had
three
girls,
I
didn't
want
them.
Written
I
didn't
like
renting,
so
I
decided
to
work.
Save
money,
I
saved
31
000
to
buy
this
house.
F
I
brought
this
out
for
me,
and
my
kids
we've
been
in
this
house
for
27
years
and
then
I
had
I
had
a
leak
because
I
had
got
injured
on
my
job,
so
they
retired
me
and
my
income
is
Social
Security
disability,
so
Social
Security
Disability,
don't
always
have
money
in
it
for
expensive
repair
house
repairs,
so
I
got
caught
in
the
gym.
My
bathroom
started
leaking
and
I
had
some
money,
but
I
didn't
have
enough
money
to
get
the
whole
the
bathroom
done.
F
So
a
friend
referred
me
to
this
company
saying
that
they
will
allow
me
to
get
a
certain
amount
of
money
to
just
to
lock
me
in
to
sell
my
property,
which
I
thought
was
interesting,
and
it
will
help
me
so
I
went
on
with
that.
So
I'm
going
to
read
my
statement
now
in
April
of
last
year,
MD
Realty
came
to
my
house
to
sign
me
up
for
the
homeowner
benefit.
They
offered
me
465
dollars
if
I
agreed
to
use
them.
F
As
my
real
estate
agent
I,
was
planning
on
selling
my
home
anyway,
because
I'm
injured,
I
have
a
lot
of
injuries
and
I
can
no
longer
adapt
to
my
house
like
going
upstairs
to
the
bathroom.
I
only
have
one
bathroom,
it
was
getting
complicated
and
my
injuries
are
so
bad
where
one
time
I
had
to
sleep
on
my
my
couch
for
a
whole
month.
F
I'm
a
very
detailed
oriented
person,
I
read
that
contract
from
beginning
to
end
and
then
I
you
could
I
never
saw
nothing
about
a
40-year
contract.
I
would
never
lock
my
hard
earned
money
working
for
the
for
that
house
to
get
that
house
for
us
465
dollars
to
be
locked
in
for
no
four
40
years.
I
could
have
went
to
a
family
member
and
borrowed
the
money
that
I
needed,
but
in
my
Independence
wouldn't
allow
me
to
do
that.
I
went
this
route,
but
I
would
never
lock
myself
in
for
no
40-year
agreement.
F
That's
just
not
me
so,
but
I
did
understand
that
I
would
be
paying
into
locking
them
a
fee
for
the
next
I
didn't
understand
that
I
would
be
paying
them
a
fee
for
the
next
40
years,
no
matter
how
poor
a
job
they
did
with
selling
my
house,
I
also
did
not
understand
that
they
were
going
to
record
a
mortgage
lien
on
my
home.
They
leave
you
with
no
hard
copies.
I
had
to
call
for
my
hard
copy
and
she
didn't
send
it
to
me
through
the
mail.
F
She
sent
it
through
me
to
the
email
and
it's
a
rush
rush
process.
They
don't
give
you
time
to
think
they
don't
leave
you
nothing.
So
you
can
read
over
it
and
figure
out
if
this
is
really
what
you
want
to
do.
I
didn't
even
get
no
documentation
to
back
out
once
I
locked
myself
in
they
don't
offer
me
that
either
so
it's
definitely
a
rush
rush
process.
It's
a
predatory
to
me!
F
I
I,
really
believe
that
this
is
a
predatory
company
and
I'm,
so
grateful
that
y'all
going
after
them
and
I
my
prayer
was
for
somebody
to
shut
them
down.
I'm
praying
that
this
happens
now
and
I.
Will
they
talk
to
you
on
the
phone?
Then
they
send
someone
out
to
your
house
the
next
day.
It's
immediately.
They
don't
give
you
time
to
think.
That's
how
you
know
it's
predatory.
They
don't
give
you
time
to
think
or
reconsider
your
decision.
You
don't
have
a
chance
to
reconsider.
F
A
few
months
later,
I
put
my
home
up
to
sell
using
Envy
realtor.
As
my
realest
real
estate
agent,
Denise
Rosetti.
My
agent
met
me
at
the
house
and
took
pictures
for
marketing.
She
agreed
that
my
house
should
be
listed
for
235
000.
It
quickly
be
claimed,
became
clear
to
me
that
Denise
was
not
making
her
best
efforts
to
sell
my
home.
F
The
quality
of
the
photos
that
she
had
taken
were
blurry.
You
could
not
see
the
beauty
of
my
home
through
those
pictures.
I
was
very
upset
at
that,
and
I
asked
her
to
repost
some
other
pictures
that
I
sent
her.
That
was
very
clear.
She
told
me
they
wasn't
professional.
She
wasn't
going
to
use
them.
She
didn't
use
them,
so
she
refused
to
use
the
ones
that
I
sent
in
just
two
weeks
after
listening
in
a
home
for
sale
where
she
agreed
that
it
was
worth
235
000..
F
She
suggested
that
I
reduced
the
price
by
seventy
thousand.
That's
what
triggered
me!
You
know
when
you
list
a
house,
they
usually
tell
you.
If
it's
too
much,
you
can
go,
take
it
down
by
five
thousand
ten
thousand.
Seventy
thousand
dollars
is
a
big
drop.
So
that's
what
triggered
me.
I
contacted
CL,
Community,
Legal,
Services
and
I
started
this
this
Pro
this
this
part.
F
It
said
it
made
no
sense
to
me.
I
said
it
made
no
sense
that
she
would
try
to
drop
this
price
by
such
a
huge
amount.
Two
weeks
later,
Denise
also
made
it
difficult
to
prepare
for
showing
my
house.
She
would
never
give
me
advance
she
if
she
needed
to
show
my
house.
It
was
that
day
and
it
was
through
email
which
I'm
not
an
email,
Checker
and
I
kept
telling
her
to
call
me
or
text
me
when
you
needed
to
show
the
house.
She
would
never
do
it.
F
She
continued
to
send
it
through
the
email,
so
no
one
that
was
ever
ever
able
to
get
into
my
house
then
this
also
because
she
wouldn't
give
me
advance
notice
shortly
after
the
house
came
off
the
market
when
the
contract
was
up
after
six
months
of
trying
to
sell
it,
which
I
believe
she
didn't
try
to
sell
it.
I
was
contacted
by
another
realtor
agent,
who
confirmed
my
fears.
She
said
when
my
house
was
listed
for
sale.
F
She
had
an
interested
interested
buyer
for
the
original
price
cash
money,
but
she
couldn't
get
an
appointment
to
see
the
home
through
Denise.
At
that
point,
I
discovered
that
I
was
locked
into
a
40-year
agreement
with
MV
realtor,
because
that
Realtor
told
me
that
if
my
contract
had
ended,
I
should
be
able
to
use
another
realtor,
but
I
contact
CLS
and
that's
when
I
was
told
that
I
was
in
this
40-year
contract
no
way.
I
enter
into
a
40-year
contract
for
465
dollars.
F
I
had
received
notification
from
Philadelphia
Department
Records
that
MV
Realty
had
filed
a
mortgage
against
my
property.
I
was
shocked
to
learn
about
that
lien.
I
am
sad
upset
the
way
I
have
been
treated
and
handled
I'm,
disabled
and
I
needed
to
leave
this
house
to
get
a
a
more
appropriate
house
for
my
body,
but
MV
Realty
tracked
me
into
the
long-term
contract
that
has
prevented
me
from
selling
my
home
when
the
house
prices
were
higher,
I
couldn't
even
get
get
the
money
from
the
the
from
the
buy
sellers
Market.
F
I,
don't
want
to
use
memory
Realty,
as
my
real
estate
agent
I,
would
love
to
get
out
of
this
contract
and
use
someone
else
to
sell.
My
house
I
don't
feel
like
the
way
they
predator,
predator,
predator,
came
against
me.
I!
Don't
want
them
to
make
money
off
of
my
property,
I
feel
like
I
was
set
up
and
that
this
system
was
not
for
my
good.
It
was
for
my
dad.
F
B
Thank
you
so
much
to
all
of
you
I'm,
so
sorry
that
you
know,
after
working
so
hard
to
buy
your
homes,
and
you
know
taking
keeping
your
homes
up
and
just
trying
to
find
ways
to
reinvest
that
you
were
taking
advantage
of
by
such
an
unscrupulous
company
and
I'm.
Also
sorry
that
you've
had
to
deal
with
this
at
the
same
time
that
you've
had
to
deal
with
various
health
challenges
and
just
the
the
struggles
of
of
everyday
life
and
I.
We
appreciate,
though,
you
coming
forward
to
share
your
stories.
B
H
Sure
so
MB
Realty
appears
to
be
operating
in
33
States,
their
headquarters
is
in
Florida
and
there
are
three
individuals
who
appear
to
be
sort
of
beating
the
scheme:
the
Florida
Attorney
General's
office
sued,
not
only
the
company,
but
those
individuals,
and
we
are
again
like
I
said
we
really
were
like
celebrating
in
here
before
the
hearing
started.
When
we
got
the
great
news
that
the
Attorney
General's
office
has
taken
action
against
them
as
well.
H
You
know
I
think
a
successful.
A
successful
resolution
here
is
for
all
of
the
homeowners
who
have
been
scammed
and
tricked
into
putting
up
their
home
and
to
being
tricked
into
a
mortgage.
Those
mortgages
need
to
come
off
the
property
people
who
have
lost
the
opportunity
to
sell
their
homes
need
to
be
compensated,
and
we
need
to
make
sure
that
this
doesn't
happen
to
anybody
else.
J
B
A
I
K
K
In
Philadelphia
called
reinvestment
fund,
I
want
to
thank
you,
chair,
Gautier
and
co-chair
Jones
for
doing
this
hearing
today,
I
think
it's
super
important
to
be
able
to
get
the
word
out
about
what
is
happening
with
this.
It's
wonderful
that
the
city
Administration,
including
the
recorder
of
deeds,
has
taken
some
affirmative
steps
to
help
make
it
possible
to
understand
what
this
firm
is
doing
to
the
homeowners
of
Pennsylvania,
and
we
are
pleased
to
be
able
to
help
out
in
our
way
to
get
some
of
these
activities
curtailed.
K
We
are
lending
institution,
but
for
the
record,
we
are
a
non-profit
lending
institution
here
in
Philadelphia
and
we
don't
do
individual
mortgages
for
people
getting
home,
but
we
do
support
the
creation
of
affordable
housing
and
Child
Care
Centers
and
arts
and
culture
space
and
all
the
kinds
of
things
that
communities
need
to
be
vital,
healthy
and
Equitable
places.
I
think
that
our
guest
this
morning
did
an
extraordinary
job,
as
does
the
Pennsylvania
Attorney
General
and
the
Florida
attorney
general,
their
lawsuit
articulating.
K
What
it
is
that's
problematic
about
this,
but
what
I
would
like
to
say
is
that
this
firm,
this
MD
Realty
the
the
way
they
go
about
their
business.
It's
really
sort
of
a
set
of
behaviors
that
shares
many
of
the
same
features
of
the
predatory
lending
practices
of
over
a
decade
ago.
The
business
offers
something
of
a
product
that
it
is
that's
attractive
particularly
attractive
to
people
who
have
financial
needs
and
limited
access
to
other
Financial
Alternatives.
There's
an
element
of
pressure,
there's
an
element
of
deception.
K
K
You
testified
this
morning
and
I
think
it's
also
the
case
that,
like
much
of
the
predatory
lending
of
a
decade
ago
and
other
forms
of
lending
and
credit
abuse
in
Philadelphia
and
across
the
country,
there
is
a
targeted
element
to
it
too,
and
there
is
a
targeted
element
that
is
focused
on
particularly
people
in
neighborhoods
of
color,
the
deceptive
again
just
to
sort
of
drive
home
the
point
they
say
it's
not
a
mortgage
image,
but
here
is
a
copy
of
their
document.
It
says
mortgage
on
it.
K
So
on
the
one
hand,
if
they
say
it's
not
a
mortgage,
they
record
a
document.
That's
a
mortgage.
They
satisfy
a
document,
that's
a
mortgage.
They
refer
to
the
satisfaction
they
refer
in
the
satisfaction
to
a
loan
and
a
debt
secured
by
a
mortgage.
It
seems
like
you
can't
have
it
both
ways
again,
you
know
some
of
the
more
problematic
features
are
the
you
know
the
fact
that
you're
giving
up
a
huge
stake
and
your
largest
financial
asset
being
your
home
for
just
a
couple
of
hundred
dollars.
K
It's
a
40-year
exclusive
right
which
really
exceeds
any
you
know
any
reasonable
term.
The
early
termination
firms
are
severe
they're.
Typically,
it
seems
about
10
times
the
amount
of
money
that
people
actually
receive.
We
don't
know
how
it
is
that
they
come
to
the
amounts
that
they
offer
people
and
how
it
is
they
come
to
the
amounts
that
are
recorded
as
the
liens,
but
they're
the
ones
that
we've
been
able
to
see.
It
seems
like
about
10
times
as
much.
K
At
least
they
say
it's
not
a
loan,
but
it
is,
as
attorney
Smith
from
the
CLS
group
testified.
There
are
features
of
it
that
are
problematic,
like
a
binding
arbitration
Clause,
a
waiver
of
Class
Acts
relief,
and
then
you
know
I
think
that
it's
reasonable
to
think
if
these
Agreements
are
breached.
If
you
will
in
a
short
amount
of
time,
if
these
are
indeed
mortgages,
the
effective
annual
interest
rate
could
be
40,
50
60.
K
So
as
we
sort
of
get
into
that
piece
of
targeting,
which
is
what
I
mentioned
earlier,
you
know
Philadelphia
neighborhoods
and
the
residents
of
our
neighborhoods
have
struggled
for
decades
with
either
too
little
access
to
credit
or
too
much
access
to
bad
credit
and
I
think
it
was
Malcolm
X
who
was
quoted
as
saying
racism
is
like
a
Cadillac
because
they
make
a
new
model
every
year.
I
think
what
you're
seeing
is
that
this
is
the
2022
model,
or
maybe
it's
the
2023
model
as
they're
out
already.
K
K
Those
decisions
were
made
by
the
federal
government
based
on
the
race
of
the
people
that
lived
there,
the
religion
of
the
people,
the
perhaps
the
mixture
of
the
races
and
religions
of
people
who
lived
in
these
places.
They
didn't
particularly
care
for
areas
that,
had
you
know,
races,
but
I
I
also
want
to
draw
your
attention
to
what
I
guess
is
in
part.
You
know
the
the
ninth
Council
district
and
and
councilmember
passes
District
up
here
that
in
the
1930s
that
was
not
a
red
line
area.
K
In
fact,
it
was
considered
a
pretty
desirable
area
from
the
from
the
perspective
of
making
credit
available,
but
here
you're,
seeing
a
series
of
maps
that
show
Philadelphia
Each
decade
from
1940
through
1980
each
map
showing
the
racial
composition,
the
more
Darkly
shaded
areas
are
areas
that
have
an
increase.
A
higher
share
of
the
minority
population
in
this
instance
Black
and
Hispanic,
combined
you'll
notice
that
in
those
periods,
those
early
Maps,
the
area
inside
the
blue
box
did
not
have
a
significant
black
population.
K
However,
owing
to
blockbusting
and
other
kinds
of
practices,
you
saw
a
significant
growth
in
the
black
population
up
in
the
northwest
of
Philadelphia
fear,
and
this
is
important
because
it's
one
thing
to
say
that
there
is
a
sort
of
a
Perpetual
impact
of
redlining,
but
it's
not
only
redlining
that
sets
the
future
path
for
a
neighborhood.
There
are
other
practices
that
intervene
over
time.
K
One
of
those
practices
we
took
a
look
at
on
behalf
of
council
was
reverse
mortgages
and
those
you'll
recall
are
mortgages
that
are
pitched
with.
We
pay
you
to
stay
in
your
home.
That
said,
each
one
of
those
green
dots.
At
the
time
we
looked
at
it
was
a
reverse
mortgage
that
meant
that
went
to
foreclosure.
The
size
of
the
dot
represents
the
size
of
the
mortgage,
you'll
notice
that
there
is
a
pretty
substantial
racial
concentration
in
the
Black
and
Hispanic
neighborhoods
of
Philadelphia.
K
So
this
was
one
such
feature
in
other
such
features,
contemporary
mortgage
denials,
you're
looking
at
the
freshest
mortgage
data
that
exists
and
the
areas
that
are
shaded
in
the
darker
brown
on
this
map
are
areas
that
had
higher
denial
rates.
The
areas
that
have
blue
around
them
are
areas
at
over
over
50
percent,
black
and
areas
with
the
purple
cross
hatching
or
over
25
Hispanic
you'll
notice.
The
denial
rates
are
higher
in
these
places.
This
is
one
of
the
elements
that
sets
up
as
I
articulated
the
sort
of
the
the
predatory
features.
K
You
know
the
fact
that
it's
attractive
to
people
who
don't
necessarily
have
a
ton
of
different
alternatives-
credit
does
not
to
this
day
flow
evenly
across
the
city's
landscape,
and
these
are
Envy's
agreements
in
this
instance.
What
we've
done
for
your
convenience
is
to
show
you
with
a
Green
Dot,
where
those
Agreements
are
and
then
show
you
the
boundaries
of
your
council
districts
and
you'll
see
that
they
really
are
in
in
all
council
districts
in
Philadelphia,
in
different
densities
for
sure,
but
they
are.
K
The
map
is
shaded,
though
again,
where
the
darker
shades
of
brown
are
places
that
have
a
higher
concentration
of
black
people.
The
cross-hatched
areas
are
places
where
there
is
a
substantial
Hispanic
population
and
there
is
an
undisputable
concentration
of
these
MD
benefit
agreements
or
recorded
mortgages
in
the
black
population
in
the
black
neighborhoods
and
Hispanic
neighborhoods
of
Philadelphia.
K
K
Now
what
we
did
here
is
we
don't
know
with
certainty
from
a
recorded
mortgage,
the
race
or
ethnicity,
of
the
person
who
got
it.
However,
the
federal
government
uses
an
algorithm
to
take
one's
name
and
one's
geographic
location
and
estimate
a
race
or
ethnicity
of
the
person
that
got
the
product.
They
use
this
tool
in
civil
rights,
examinations
of
Banks
and
financial
institutions.
K
On
this
chart,
you're
looking
at
the
city
of
Philadelphia,
the
gray
bars
represent
the
percentage
of
homeowners
that
are
of
the
given
race
or
ethnicity.
So,
for
example,
37
of
of
Philadelphia
homeowners
are
black.
45
are
white,
however,
the
orange
bars
tells
you
what
percentage
of
Envy
Realty
mortgages.
We
estimate
go
to
homeowners
of
that
given
race.
K
This
is
Delaware
County.
We
have
multiple
counties
again,
thanks
to
Mr
Leonard's
affirmative
Outreach,
to
his
colleagues
the
recorders
of
deed
around
the
Commonwealth.
In
this
instance,
Delaware
County
has
14
of
their
homeowners
are
black.
However,
42
percent
of
Envy
Realty
mortgages,
We
Believe,
are
estimated
to
have
gone
to
Black
homeowners
so
again
that
element
of
disproportionate
targeting
to
people
of
color.
K
This
is
a
table
version
of
it.
What
we
do
is
in
the
top
portion
of
the
table
if
you
read
across
you'll,
see
a
county,
and
these
are
the
Suburban
counties
plus
of
Philadelphia
Plus
Lancaster
County
you'll
see
the
percentage
of
mortgages
that
go
to
each
of
the
different
racial
and
ethnic
groupings.
In
the
middle
panel,
you
will
see
the
percentage
that
of
that
are
homeowners
of
each
of
those
racial
and
ethnic
groupings
and
in
the
bottom
panel,
the
disparity
in
every
place.
K
You
see
that
we
have
data
for
the
percentage
of
MV
Realty
beneficiaries
compared
to
homeowners
is
lower
for
white
and
higher
for
Black
and
Hispanic
families.
Every
single
place
that
we've
looked
and
we
have
more.
We
haven't
yet
had
an
opportunity
to
analyze
them.
We
will
not
be
able
to
do
the
the
individual
estimation
in
all
the
places
for
which
we
have
the
the
records,
but
we
will
do
as
much
as
we
can
going
forward.
K
What
will
we
do
to
support
you
and
all
the
Extraordinary
People
in
Philadelphia's
consumer
protection,
Community
best
in
the
country
I
think
we
will
continue
to
work
with
their
quarter
of
Deeds
to
get
the
data
from
his
colleagues
around
the
Commonwealth
and
analyze
and
table
those
data.
So
you
all
have
accurate
and
and
the
best
information
that
you
could
have
about
who's
being
impacted
by
this.
K
We
would
like
to
be
able
to
be
an
active
supporter
of
law
enforcement
and
the
consumer
protection
organizations,
as
well
as
by
the
way,
the
fair
housing
organizations.
Sometimes
people
refer
to
as
the
the
private
Attorneys
General.
They
don't
act
with
the
color
of
law
enforcement,
but
they
are
doing
law
enforcement
functions
to
focus
on
the
fair
housing
implications
of
what's
being
done
here
again.
You
know
I'd
like
to
sort
of
come
back
to
that
piece.
That
I
said
about
the
features
of
predatory
and
the
fact
that
it's
targeted.
K
You
know,
among
the
things
that
we
learned
during
that
period,
is
a
lot
of
the
companies
that
were
doing
that
work
did
so
in
a
targeted
way
and
they
were
essentially
putting
poison
in
the
ground
and
USD.
What
you
need
to
be
able
to
do
is
somehow
sort
of
take
out
that
poison
and
put
people
back
into
a
position
where
they're
in
a
good
State.
We
want
to
be
able
to
support
you
and
the
administration
and
the
legal
services
and
the
fair
housing
organizations
in
that
effort,
and
we
think
a
big
piece
of
it.
K
You
all
have
taken
a
huge
important
first
step
with
the
public
education
aspect
of
what
you're
doing
you're
letting
people
know
that
this
is
out
there
not
to
be.
You
know
to
go
into
these
transactions
if
they
do
with
their
eyes
wide
open.
Lastly,
these
are
the
places
this
little
table
down
at
the
bottom
of
this
slide.
K
These
are
the
places
for
which
we
have
data
Allegheny,
County
144
of
these
fewer
than
Philadelphia
County,
but
the
most
of
the
counties
that
we've
also
seen
But
in
Montgomery
County,
which
is
one
of
our
obviously
our
sort
of
neighboring
counties,
90
of
them.
These
are
proliferating
with
great
hate.
You
know
great
speed
and
again
I
have
12
of
you
for
taking
this
affirmative
effort
to
make
the
public
aware
and
with
this
I
will
stop
sharing
my
screen,
and
thank
you
for
your
time.
I'd
also
excuse
me
before
I
end.
K
B
Thank
you
so
much
Ira
for
sharing
all
of
this.
You
know
very
useful
data
as
it
relates
to
the
quote
that
you
shared
I
want
to
declare
affirmatively
that
we
are
issuing
a
recall
on
the
2023
model
of
racism,
and
then
we
are
going
to
discontinue
the
line.
So
we
look
forward
to
working
with
you
on
that
I
think
we
are
ready
with
our
videos
I'm
going
to
break
things
up
a
little
bit
we'll
show
our
video,
then
we'll
go
forward
with
the
rest
of
this
panel
and
questions.
B
A
B
B
A
Ceo
is
the
city's
Community
Action
Agency,
and
our
mission
is
to
provide
leadership
on
issues
of
economic
Justice
by
advancing
racial
equity
and
inclusive
growth,
to
make
sure
that
all
philadelphians
have
an
opportunity
to
share
in
this
City's
prosperous
future
I
certainly
want
to
give
a
shout
out
today
to
the
AGS
office
for
their
action
today,
and
certainly
the
witnesses
that
we
heard
from
earlier
and
sharing
your
accounts
and
taking
that
brave
action
against
this
sort
of
predatory
action.
You
Are,
Not
Alone,
we
are
with
you.
A
A
Tanahisi
coats
talks
about
plunder,
and
this
is
an
act
of
plunder,
right
and
and
an
opportunity
for
actors
such
as
MB
Realty,
to
see
folks
struggling
along
trying
to
make
it
trying
to
participate
in
the
American
dream
and
and
have
available
all
the
opportunities
and
as
wealth,
sort
of
continues
to
accumulate
and
creep
along
over
time.
This
is
just
another
way.
A
Another
actor
that
and
entity
sees
oftentimes
black
and
brown
peop
communities
and
people
is,
is
just
opportunity
opportunity
to
enrich
themselves
through
sort
of
unscrupulous
behaviors,
and
so
we
we
saw
with
predatory
lending
sort
of
what
iris
spoke
to
and
check
cashers
and
alternative
Financial
products
and
we're
seeing
it
here
again
today.
Some
folks
know
that
CEO
cares
deeply
about
keeping
people
away
from
well-stripping
schemes
like
this,
which
is
why
we
work
with
mayor
Kenny
to
launch
the
Consumer
Financial
Protection
task
force
in
May
of
2022..
A
Our
efforts
were
launched
by
the
mayor's
executive
order.
The
task
force
is
co-chaired
by
myself
and
city
solicitor,
Diana
Cortez
and
City
Treasurer
Jacqueline
Dunn.
His
members
also
include
consumer
protection
professionals
like
our
friend
Carrie
who's
done
a
phenomenal
job
and
others
from
the
local
advocacy
legal
advocacy
community,
as
well
as
including
the
District
Attorney's
office.
The
office
of
Attorney
General
and
the
purpose
of
the
task
force
is
to
enforce
coordinate
on
enforcement,
Outreach
legislative
efforts
to
protect
philadelphians
from
Consumer
Financial
threats.
A
A
Www.Phila.Gov
forward
slash
consumer
hyphen
protection,
there
you'll
find
general
information
about
the
task
force
and
how
to
file
a
Consumer
complaint
but
see
the
witness
as
examples
about
how
to
fight
back
and
the
only
way
or
one
of
the
best
ways
to
fight
back
is
to
share
your
information.
Let
us
understand
your
complaint
so
that
we
can
get
specifics
on
the
actions
of
MV
Realty
task
force
began,
working
on
MV
Realty,
thanks
to
Carey
and
bringing
it
to
our
attention.
A
A
Some
of
our
steps
include
preparing
material
to
warn
the
public
to
educate
which
can
be
found
on
our
website,
including
basic
information
about
MV
Realty,
that
consumers
should
know
and
how
to
file
a
complaint.
With
the
attorney
general,
the
Attorney
General
office
encourages
consumers
who
have
been
adversely
affected
to
file
complaints.
A
That's
what's
really
going
to
help
strengthen
our
understanding
of
how
big
and
how
bad
this
problem
is
and
also
strengthen
the
actions
of
the
intern.
In
general,
we
also
saw
a
partnership
with
the
Department
of
Planning
and
Development,
shout
out
to
Kathy
califano
and
her
collaboration
and
Leadership.
The
task
force
is
also
holding
three
information
sessions.
The
first
will
be
a
virtual
session
on
December
19th
at
6
PM.
There
will
be
information
on
the
website
and
a
link
to
register
in
January.
A
We'll
hold
two
in-person
information
sessions,
one
in
North
Philly,
one
in
West,
Philly
dates
times
and
locations
will
be
announced
soon.
The
task
force
will
continue
to
work
collaboratively
to
identify
any
enforcement
legislative
solutions
that
will
further
curtail
practices
like
that
of
MV
Realty,
and
we
urge
everyone
to
make
themselves
and
others
aware
of
the
schemes
so
that
it
can
be
avoided.
A
We
applaud
Council
council
president
for
the
interest
in
this
issue.
Your
proactive
activity
sometimes
folks
say
that
the
city
doesn't
act
quick
enough.
Sometimes
we
hear
that
from
our
external
Partners.
Sometimes
they
say
we
hear
that
there's
little
or
no
collaboration
amongst
internal
and
external
actors.
A
Sometimes
we
hear
that
the
voices
of
community
and
community
members
are
muted
and
today
shows
an
example
of
all
those
things
to
be
untrue,
that
in
days
past,
where
City
and
entities
and
organizations
government,
local
and
federal,
have
been
a
part
of
this
wealth
driven
activity,
we
stand
here
today,
United
combat
these
activities
and
protect
the
futures
of
our
most
vulnerable
Philadelphia.
So
thank
you
for
your
partnership.
Thank
you
for
allowing
me
to
participate
today.
A
B
B
B
I
have
a
question
for
Mr
Goldstein.
We
saw
that
there
were
pretty
big
disparities
around
MB
Realties
activities
in
given
areas
of
the
city.
I
do
understand
that
there's
a
proliferation
of
this
scheme
in
black
and
brown
neighborhoods.
But
what
does
it
mean
when
we
see,
for
instance,
in
the
ninth
Council
councilmatic
District,
that
23
of
their
mortgages
are
there?
What
does
that?
Does
that
say
anything
about
their
being
particularly
vulnerable
homeowners
there,
or
does
that
mean
that
they've
just
spent
a
lot
of
time
there?
K
Yeah
I
can't
answer
with
certainty,
but
I
believe
that
it's
reflective
of
the
fact
that
there
is
vulnerability
there
and
and
that
you
know
this
is
the
kind
of
this
is
the
kind
of
attractive
nuisance.
If
you
will
that,
once
one
person
gets
it
and
before
they
realize
it's
a
problem
and
then
they
tell
their
friends
about
it
and
the
like,
you
know,
then
they
get
it
and
then
it
goes
in
there.
But
there
is
the
that
ninth
Council
district
has
this.
K
You
know
this
set
of
features
like
there's
a
lot
of
homeowners.
There
there's
value
in
those
homes,
there's
a
significant
black
population
up
there,
and
there
is
a
population
for
whom
you
know,
incomes
are,
are
decent,
but
not
extraordinarily,
like
Chestnut,
Hill,
and
so
a
pitch
that
would
put
500
700
800
in
somebody's
hands
is
way
more
amenable
to
that
population
than
you
know:
Washington
Square
population,
let's
say
yeah,.
B
And
is
there
anything
in
this
and
I
guess
this
is
for
anybody,
you
know
who
testified.
Is
there
anything
in
this
that
should
provide
direction
to
city
council
or
the
admin
about
what
homeowners
are
looking
for?
Are
people
signing
onto
this
because
they
need
more
money
to
invest
in
the
upkeep
and
repair
of
their
homes?
Are
they
signing
on
to
this
because
they
need
more
sort
of
basic
income?
What
should
we
take
as
a
policy
lesson
from
this
and
and
what
indicators
should
we
be
looking
at
to
determine?
H
H
The
fact
that
at
the
state
level
we
have
the
whole
home
repairs
legislation
extraordinary
new
development
coming
through
those
will
all
prevent,
I,
think
New,
Opportunities
and
I
think
really.
What
we're
learning
is
that
consumer
protection
is
really
kind
of
the
foundation
of
making
sure
that
we
preserve
people's
income
and
wealth.
H
You
know
we
can.
We
can
have
all
these
programs,
we
can
have
good
wages.
We
can
try
to
work
to
eliminate
and
reduce
poverty,
but
if
we
don't
have
strong
roles
in
place
to
prevent
Predators
from
coming
in
and
stealing
those
we're
never
going
to
make
the
gains
that
we
need,
and
so
we
really
appreciate
Council
for
holding
this
hearing
today
to
kind
of
highlight
the
problem.
So
we
can
get
the
word
out
and
then
thinking
through
with
us
strategically.
What
additional
steps
do
we
need
to
protect
people
from
the
next?
A
Mad
I'm
sure
I
can
answer
the
question
a
little
differently
as
it
relates
to
the
work
of
CEO.
I
mean
I.
I
think
that
one
of
the
issues
here
is
like
the
accumulation
of
debt
right.
You
know
when,
when
folks
see
something
like
this,
they
they
see
a
financial
obligation
or
burden
that
they
have
to
deal
with
and
already
a
challenging
life.
We
heard
about
sort
of
challenging
priorities.
We
heard
about
health
challenges
right,
there's,
there's
a
lot
that
folks
have
to
deal
with
and
and
just
another
sort
of
institution.
A
We
see
that
it
is
predatory
action
in
there
and
there's
interventions
that
we
can
discover,
and
so
that's
some
of
the
work
that
that
we
are
concentrating
on
I
I.
Think,
as
you
know,
like
access
to
benefits
and
available
options
to
again
one
reduced
amount
of
debt
reduction,
is
the
reduced
amount
of
money
that's
going
out
of
the
household.
A
You
know
and
Rising
prices
of
rental
units,
personal,
fixed
income,
bringing
home
eight
hundred
dollars
a
month,
renting
room
at
eight
hundred
dollars,
leaving
only
30
something
dollars
left
right
and
then
and
then
how
do
we
create
the
right
amount
of
benefits
for
that
person
to
help
support
that
person
without
that
person
falling
off
the
benefit?
Cliff
right,
and
so
that's
that's
certainly
another
issue,
and
this
issue
around
a
small
dollar
amounts
and
how
meaningful
they
could
be
at
the
right
time.
A
If
folks
have
the
ability
to
make
choices
about
what
they
saw
as
their
priority
and
their
most
immediate
need-
and
so
this
is
an
example
of
what
sort
of
unrestricted
small
dollar
amounts
could
be
helpful
to
individual
and
their
families,
and
we
see
examples
of
that
all
over
the
country,
Universal
basic
income,
examples
all
over
the
country
and
and
we're
glad
to
be
a
part
of
some
Pilots
here
locally,
because
we
understand
the
need
of
philadelphians
in
that
way.
So
thank
you.
I.
B
Would
agree
with
you
and
thank
you
so
much
for
those
comments,
so
that
concludes
panel.
Testimony
for
this
resolution
we'll
now
begin
hearing
from
individuals
who
have
registered
to
provide
Public
public
comment.
Miss
Charles
will
you
please
read
the
name
of
the
first
person
registered
for
public
comment.
I
I
So
thank
you
for
this
hearing.
First
I
also
want
to
thank
council
president
Carr,
chair,
Gautier
Vice,
chair
Curtis
Jones,
for
holding
this
hearing
to
expose
the
practice
that
puts
homeowners
at
risk
of
losing
Equity
they've
built
their
homes
and
possibly
losing
their
homes
as
well.
The
practice
being
examined
here
is
related
to
another
predatory
practice.
The
council
has
enacted
legislation
to
control
earlier,
in
this
legislative
session,
a
bill
to
regulate
wholesalers,
a
real
property
and
to
provide
notice
to
homeowners
whose
property
was
being
listed
for
sale
by
wholesalers.
I
That
was
excellent
and
much
needed
legislation,
but
does
not
appear.
There's
been
follow-up
in
any
public
entity
to
monitor
compliance
or
to
reach
out
to
homeowners
whose
properties
are
listed
for
sale
to
make
sure
the
homeowners
understand
the
host
selling
practice
and
how
it
erodes
the
value
they
receive
for
their
home.
I
Whatever
conclusions
or
legislation
comes
out
of.
This
hearing,
it's
incumbent
upon
counsel
and
particularly
district
council
members
and
their
constituent
service
staff,
to
work
to
inform
their
homeowner
constituents
of
this
practice
and
of
any
remedies
that
they
put
in
place
and
to
follow
up
to
see
that
any
legal
protections
are
actually
undertaken
and
that
bad
actors
are
identified
and
held
to
account
for
their
actions.
I
One
example:
the
type
of
action
is
the
role
of
the
recorder
of
deeds,
which
helped
expose
this
egregious
practice
does
by
notifying
homeowners
when
an
action
has
been
recorded
against
their
home.
We
shall
be
very
glad
that
this
helped
bring
this
to
life
before
even
more
people
where
were
preyed
upon
and
finally
thank
you
for
the
step
of
having
this
hearing
I
implore
you
to
not
just
pass
relevant
legislation,
but
use
the
full
ability
of
your
offices
to
make
sure
that
any
legislation
you
enact
is
used
to
inform
homeowners
and
to
stop
further
predatory
practices.
B
L
Yes,
good
morning,
queen
Judith,
Robinson
and
I
was
waiting
for
the
call.
Thank
you
very
much.
I
guess.
I
have
a
little
different
spin
on
this.
After
watching
real
estate
activities
here
in
Philadelphia
over
quite
a
while
now
I'm
gonna
say
another
day,
another
scam
targeting
black
people
and
I
want
to
focus
on
the
governmental
processes.
L
How
did
these
mortgages
bad
loans
deals?
Scam?
How
did
they
get
recorded?
How
did
it
take
so
long
to
prevent
notify
the
folks
about
this
scam?
How
were
they
able
to
get
500?
You
know
I'm
a
real
estate,
professional
I,
go
into
that
Regis
that
recording
office,
and
they
take
your
picture
almost
take
your
fingerprints,
so
I
want
to
know
how
long
did
this
go
on
and,
as
the
person
before
me
spoke
I'm
speaking
as
a
professional
in
the
real
estate
business
of
many
many
years-
and
this
is
just
like
that
scam.
L
How
did
you
all
find
out
about
this
nonsense
and
then
turn
around
and
do
the
wholesale
Bill
he's
right
same
scam?
It's
like
y'all,
going
along
with
it,
because
even
a
criminal
former
criminal
somebody
who
was
fraudulent
can
get
a
wholesaling
license
and
do
the
same
darn
thing
this
company
has
done
so
you
know
what
are
you
all
talking
about
you're
having
this
hearing
today,
but
you
all
are
very
much
a
part
of
this.
L
You
know
taking
black
folks
equity
and
not
being
of
value
to
them
beforehand,
I'm
going
to
give
some
solutions,
because
that's
what
it's
all
about,
because
we
see
that
Sheriff's
sale
is
predatory.
You
know
you
take
people's
houses
and
it's
a
very
scandalous
thing
going
on
where
folks
can
come
in
and
get
the
house
for
exactly
the
amount
owed.
Something
strange
about
that.
L
You
were
talking
about
predatory
lending
in
the
past,
but
you
came
up
with
nothing
of
value
so
in
that
regard,
I'm
going
to
come
up
with
a
few
Solutions
okay,
so
people
are
looking
for
small
loan
products.
It
used
to
be
something
called
discount
lenders
they
would
lend
like
under
or
ten
thousand
dollars.
The
city
of
Philadelphia
is
talking
about
a
public
Bank
hurry
up
and
get
that
together.
Maybe
you
all
can
provide
these
loans.
Churches
have
Savings
and
Loans
associations
Etc.
L
They
could
Finance
some
of
their
congregation,
so
basic
Systems
Repair,
yes
needs
to
bump
that
up
you
all,
as
a
council
gave
700
7
million
7.6
million
dollars
to
a
bunch
of
lawyers
who
are
not
getting
the
job
done
without
any
stipulation.
Some
of
those
folks
don't
even
have
an
intake
process
I'm
going
to
give
you
a
solution.
Take
some
of
that
money
at
7.6
million
dollars-
and
this
is
a
Tango
title
process
that
this
government
was
a
part
of
recording
fraudulent
documents
on
people's
properties.
L
Pay
make
these
people
whole
make
them
whole
with
some
of
that
7.6
million
dollars.
That's
a
lot
of
dog
on
money.
A
couple
million
would
make
these
people
whole
I'm,
going
to
suggest
that,
because,
like
with
your
wholesaling
scam,
once
people
are
able
to
record
the
deed
or
once
they
resell
the
property
to
a
new
owner,
you
all
cannot
do
any
enforcement.
L
So
you
know
this
is
a
predatory,
City,
predatory,
governmental
process.
That's
what
I
do.
All
the
time
is
look
at
how
what
you
all
do
down
there
and
Mr
and
Mrs
powerful.
Okay
y'all
got
all
this
power
and
then
y'all
do
these
things
that
are
so
strange
to
me.
I'm,
not
gonna,
never
say
it's
all
right.
If
it's
not
ain't,
nothing
cute
about
this
stuff,
you
got
all
these
consumers
and
all
these
different
agencies
and
y'all
can't
stop
this
mess.
L
I
say:
cut
out
some
of
the
agencies
and
give
the
money
to
the
consumer
who's
being
scammed,
starting
with
imminent
domain.
Another
governmental
process,
where
you
take
people's
property
and
never
give
them
fair
market
value,
so
I'm,
looking
at
the
whole,
predatory,
scam
being
run
against
black
people
on
Choice
land
where
I
live
in
North,
Philly,
okay
and
it
starts
with
government.
This
couldn't
happen
without
the
governmental
processes.
L
So
with
that
I'll
see
you
all
at
the
next
Council
session,
whenever
I'm,
not
there
I'm
somewhere
else,
Uptown
dealing
with
some
other
mess
like
this
Transit
mess.
Okay,
so
but
I
digress,
so
have
a
good
one
see
what
we
can
do
about
that.
A
whole
bunch
of
scams
in
Philly
take
care
have
a
great
day.
Thank.
B
Hearing
none.
This
concludes
the
business
before
the
committee
on
housing,
neighborhoods
development
and
the
homeless
today
and
I
just
want
to
thank
everyone.
Who's
testified
today.
Everyone
who
shared
their
stories
today
I
am
appreciative
of
our
attorney
general
for
taking
action
against
this
predatory
company.
I
hope
that
every
homeowner
in
Philadelphia
represents
it
by
those
500
mortgages
receives
Justice,
I,
hope
this
company
is
shut
down
and
I
hope
the
owners
personally
lose
anything
that
they've
stripped
from
other
people
and
then
some.