Saturday, February 26, 2011

Major Investigation. - First Action.....

Cummings Launches Major Investigation of Mortgage Servicer Abuses

This is a good thing by Rep. Cummings, and though we applaud the effort, he is a member of the Minority in the House. His investigation can easily gather evidence to demonstrate how the servicing industry is committing fraud and abuse, but we all know this already. We have the SIGTARP report, the COP report, and the GAO findings, which all clearly demonstrate what is going on.

The main question is what will Chairman Issa do with the results after the report is complete?  As Chairman of the Committee, the findings of the report could possibly never be acted upon. The Majority in the Committee sets the agenda. We already know Chairman Issa is a co-sponsor of H.R.430, which calls for the end of funding for HAMP and other programs.

Rep. Cummings is going to need support in large numbers. This situation is exactly why "This Egyptian Thing" was created; to target specific action to specific people at specific times in large numbers. In order to get the help required to fix this mess, we need to organize. "This Eygptian Thing" is designed to do that.

Again, we applaud Rep. Cummings, but unless it is acted upon nothing will change. Chairman Issa and every other committee member need to have their phone lines and emails jammed with our single message: Will the Congressperson be attending the hearing? Since the hearing is in Baltimore, our effort will start on the morning of March 6th. The reason is: it's doubtful that many members are planning to make the 45-minute drive from DC. They need to be aware that the public expects them to attend and care about this issue. With large numbers, DC staffers will see an organized effort - they will speak between themselves and will start to get the message.

Demonstrating large numbers will also give Rep Cummings the backing he needs to move this forward. We cannot pull this trigger until we know how many people will support the effort. The only way we will know our numbers is for people to click on the "follower" link on this site or follow it on twitter.  We can also track the number of people requesting information by email at: .

With "This Egyptian Thing" we don't just want to complain, but rather offer one simple solution.  It is not the silver bullet to all the problems, but it is change that can happen immediately. 

1 comment:

  1. Survey to be delivered to the hearing in Baltimore on March 8th. Please have as many people as possible take it.