NeighborWorks America has teamed with The Advertising Council to create new public service announcements designed to educate consumers in danger of foreclosure where to turn to get help. The aim of the campaign (originally launched in 2007) is to get these distressed homeowners to call the Homeowner's HOPE Hotline. "With an estimated 4 million homeowners at imminent risk of foreclosure this year, there is an urgent need to reach those homeowners and provide them with the information and counseling they need to move forward and make the right decisions," said Ken Wade, chief executive of NeighborWorks America. "It is an increasingly cluttered and confusing marketplace and even though homeowners want to take action, they are unsure of the steps they can take to prevent foreclosure. We are pleased to partner with the Ad Council and Cossette New York on this campaign to provide homeowners with a clear next step - call the HOPE hotline." Cossette New York created the television and radio PSAs pro bono. The PSAs use humor and hyperbole to get the intended target's attention. Bill Oberlander, the chief creative officer at Cossette New York said, "A well balanced message of entertainment and education was used to debunk scammers and well-intentioned, misinformed family members. To get straight talk, go to the Hope Hotline first."
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There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
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Foundation had introduced Version 3 of its credit risk model, using the most recent delinquency data, to improve loan performance predictions.
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Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
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The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
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The bureau said the move is intended to remove potentially confusing language with an upcoming revision to the Equal Credit Opportunity Act.
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