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Binding Arbitration Bill Filed
SEN. FEINGOLD, REP. JOHNSON INTRODUCE MEASURE TO PRESERVE CONSUMER JUSTICE

Arbitration Fairness Act 2007
See more on: Binding Arbitration plus, Latest News

Legislative Watch
 ACTION ALERT

  Let the Sun Set on the Texas Residential Construction Commission!!
Sunset Public Hearing September 23-24, 2008

See Texas Watch:Texans Abused by Builders, Abandoned by the TRCC
**********

Bill to Watch -
Washington State Homebuyers' Bill of Rights Legislation

KB Home & Countrywide Conspire to Inflate Appraisals
Monday, 24 March 2008

A Court Case That Could Be A Sign of the Times
On Feb. 6, Bolden filed suit in Los Angeles Superior Court along with her husband, Lonnie Bolden, and her neighbors David and Dolores Contreras against her builder KB Home, her lender Countrywide Financial Corp., along with affiliated businesses and two appraisers. Alleging that the defendants conspired to inflate the price of their homes through deceptive, fraudulent appraisals, the suit seeks compensatory and punitive damages. Asserting that they are the tip of the iceberg and that many other KB Home owners have been harmed by the same practices, the plaintiffs are requesting class-action status for all California KB Home buyers who obtained financing through Countrywide between Aug. 1, 2005 and July 31, 2006.

Read more...
 
Year #11 Living with a Defective Perry Home - Couple Still Waiting
Friday, 21 March 2008

Texas Supreme Court: Moving at a Snail's Pace
Remember Bob and Jane Cull and their 10-year battle with Houston homebuilder Bob Perry over their problem-plagued home? Of course you don't. Apparently, the Texas Supreme Court doesn't either...The case has focused attention on how construction disputes can last for years without resolution and raised questions about possible influence of big-dollar campaign contributions. Bob Perry is the biggest campaign contributor in Texas. He has given money to every member of the Texas Supreme Court, which now sits in judgment on the Cull case.

Read more...
 
KB's stock dropped 56% as CEO Mezger receives $24.8 million compensation
Wednesday, 19 March 2008

KB Home's Mezger Gets $6 Million Bonus in Slump: Graef Crystal
Revenue dropped to $6.4 billion from $9.4 billion. Diluted earnings per share plummeted to negative $12.04 from positive $5.82 the year before. Total shareholder return for the fiscal year ended Nov. 30, 2007, was negative 58 percent compared with a positive 7.7 percent return on the Standard & Poor's 500 Index.

Read more...
 
KB Home/Mirasol subject of City Council Meeting
Saturday, 15 March 2008

Regular Meeting of the City Council of the City of San Antonio
Mr. George Alejos stated that Mirasol Residents had walked out of the last meeting and would no longer communicate with the Task Force. He noted that they would be taking their concerns to Congressman Charlie Gonzalez...Mr. Guadalupe Lopez stated that before the Mirasol Residents walked out of the meeting, they had asked Mr. Gordon Hartman to remove Ms. Battle from the Task Force...Workers hired to repair their homes told residents that they are not actually fixing anything, only patching them up cosmetically.

Read more...
 
San Antonio Housing Authority Evicts Dead Man
Wednesday, 12 March 2008

SAHA evicts dead man
The housing authority actually evicted a dead man, using the court system and a constable to deliver an eviction notice for nonpayment of three months' rent. When no one answered the constable's knock at the door, SAHA employees entered the apartment that had been unoccupied for three months and threw the man's belongings out on the street. Though that's odd enough, the sad thing is that SAHA knew three months earlier the man had died and his apartment could be cleaned out because the dead man's family brought the keys by the SAHA office and told officials nobody wanted any of his possessions.

Read more...
 
Feds probe the KB Home Mirasol Fiasco
Tuesday, 11 March 2008

Feds launch inquiry into Mirasol Homes
The federal Office of the Inspector General has started a new inquiry into the Mirasol Homes public housing project.  This is the second probe in five years of the taxpayer-funded project owned by the San Antonio Housing Authority...Community activist George Alejos, a task force alternate who represents City Council District 5, said he has pushed for an independent look at itemized accounts for the $1.7 million already spent on Mirasol... According to information distributed to task force members, the OIG is requesting information in 15 specific areas

Read more...
 
Lennar community dominated by renters and out-of-town investors
Tuesday, 11 March 2008

Broken Promises Plague Suburban Development
"We were expecting a real nice, clean community," Spector said. "We'd moved from California, and we were expecting the planned communities to be similar to the planned communities we'd lived in in California." Spector says what he got instead was a community dominated by renters and out-of-town investors. Residents say the community is plagued by drug dealing, gang graffiti and poorly maintained properties.  See home builder related articles: Housing Market Tracker - Homeowners Fighting Back Against Homebuilders

Read more...
 
Lenders and Building World begin to unravel
Sunday, 09 March 2008

Associated Press Reports: Feds investigating Countrywide lender
Federal authorities are investigating Countrywide Financial Corp. for securities fraud, according to media reports.
The FBI is in the early stages of an inquiry into whether officials misrepresented the company's financial position and the quality of its mortgage loans, the Wall Street Journal first reported on Saturday, citing law enforcement officials and finance executives.
The Justice Department is also involved in the investigation into the nation's largest mortgage lender, said the New York Times, which also cited anonymous sources who said they were not authorized to discuss ongoing criminal matters.

Read more...
 
$6 Million Bonus: Customer Satisfaction? What Customer Satisfaction?
Sunday, 09 March 2008

KB Home CEO receives $24.4 million in 2007 despite housing downturn
The chief executive of KB Home received compensation valued at $24.4 million in fiscal 2007, a year in which the homebuilder swung to a loss amid the subprime credit crisis and the downturn in the housing market. Mezger's compensation package included $1 million in salary and a $6 million bonus that Mezger received for strengthening the company's balance sheet, improving performance on a customer satisfaction survey, cutting costs and developing senior leadership in his first year as CEO...The Los Angeles-based company posted a loss of $929.4 million... Revenue dropped 32 percent. See related KB Home construction warranty issues

Read more...
 
KB Home Shut Down after $929.4 million lose
Sunday, 09 March 2008

KB Home to quit building in some markets
Home builder KB Home said Friday that it would stop building in Chicago, the mid-Atlantic region and Albuquerque, N.M., after finishing houses under construction in those regions... KB Home had a loss of $929.4 million in fiscal 2007, compared with net income of $482.4 million a year earlier. See KB Home construction warranty issues

Read more...
 
Minorities Target of Loan Scams
Sunday, 09 March 2008

Illinois Subpoenas Countrywide, Wells Fargo
Attorney General Lisa Madigan has issued subpoenas to Countrywide Home Loans, Inc., and Wells Fargo Financial Illinois, Inc., to determine whether the lenders unfairly steered African American and Latino borrowers into higher cost home loans in violation of fair lending and civil rights laws. The study also found marked disparities in loan pricing between white and non-white borrowers, with African American borrowers three times as likely as white borrowers to receive a high-cost home loan and Latino borrowers twice as likely...According to the Chicago Reporter study, the wealthiest African American homeowners are still more likely than the poorest white borrowers to get placed in high-cost loans.

Read more...
 
Lenders make deal to prevent lawsuits from New York Attorney General Andrew Cuomo
Wednesday, 05 March 2008

Fannie, Freddie agree to new appraisal standards
The two largest sources of U.S. mortgage financing agreed on Monday to sponsor a new home appraisal watchdog to prevent inflated home values...Since Wall Street gladly bought and bundled home loans for investors during the housing boom, lenders may have felt more comfortable inflating loan amounts. Cuomo filed subpoenas against Fannie Mae and Freddie Mac to determine whether the companies stood by as that happened.

Read more...
 
Reuters: 8.8 million homeowners, or 10.3 percent, are in over their heads
Wednesday, 05 March 2008

One in 10 home loans is under water: Economy.com
One-tenth of U.S. homeowners hold mortgages that are larger than the worth of their homes, Moody's Economy.com said on Friday.Nearly 8.8 million homeowners, or 10.3 percent, are in over their heads, its chief economist, Mark Zandi, estimates...

Read more...
 
Reuters: U.S. housing meltdown forces Americans from their homes
Wednesday, 05 March 2008

Fraud compounds woes of housing crisis
As the U.S. housing meltdown forces hundreds of thousands of Americans from their homes, the extent to which fraud was a factor in the crisis is just coming to light. Products such as stated-income loans -- known as "liar loans" because no proof of income was needed -- led to widespread misrepresentation by borrowers about their earnings. But far more sinister forms of fraud, including identity theft and "straw buyers" -- those created using fake documents -- are also coming into the open.

Read more...
 
Orlando Sentinel: KB, Lennar Scandals, Bombs & Bribs
Monday, 03 March 2008

Read more...
 
State Securities Regulators New Study: Investors View Securities Arbitration as Biased & Unfair
Sunday, 02 March 2008

NASAA Calls on FINRA, SEC to Improve the Integrity of Securities Arbitration System by Removing Mandatory Industry Representative from Arbitration Panels
The North American Securities Administrators Association (NASAA) today called upon the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) to take immediate action to improve the fairness of the system of securities arbitration, beginning with the removal of the mandatory industry representative from arbitration panels used to resolve securities disputes involving customers and industry.

Read more...
 
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Results 49 - 64 of 1892

Home Builder
 Implode-O-Meter

Build it right the first time
An interview with Janet Ahmad

 KB Home Federal Housing Scam
 KB Homes are falling down

Builders Looking for Federal Handouts

HUD's Broken System
From HUD's Deregulation to Disgrace
Did HUD Secretary Cisneros
 Mastermind Predatory Lending?

KB Home Bombs
KB Goes Unpunished for Building Community on Bombs
Taxpayers Pay $2.6 Million
KB Attempts to Bribe Woman

KB HOME FEATURES
Legislators, HUD & FTC
Respond to complaints
HUD Fines KB Home$3.2M
FTC Fines KB Home $2M


ABC 20/20 - KB Home built on bombs
KB to build on Worst Nnuclear Meltdown Site
Why KB Profits are Greater
Special Reports - Read More...
See KB Homeowners Protest and Get Results
 WFAA's Bryan Harris Investigates KB Home & Bombs

Take Action
Ban Binding Mandatory Arbitration

Send a message urging your Congressman to support all legislation banning this unfair practice

TRCC AN ARRESTING EXPERIENCE
The Pat and Bob Egert Building & TRCC Experience 

OUTSTANDING FOX4 REPORT
TRCC from Bad to Worse
Case of the Crooked House

Voting Texas Style
What Lawmaker is Voting for you?

Give Me Back My Rights Campaign
Model State Arbitration Legislation
Fair Homebuyer Contract Model

Homebuilder's Right-To-Repair Illusion

Bad Binding Arbitration Experience?
conttribute@hobb.org
 or call 1-210-402-6800

 Texas, First Home Lemon Law Debated in the Nation

HOBB Weekly Update Messages

Texas Watch   
 Tell Lawmakers to Reform Homebuilder Agency
  

IS YOUR STATE NEXT?
As Goes Texas So Goes the Nation
Knowledge and Financial Responsibility are still Optional for Texas Home Builders

Texas Regulates Homebuyers
 
Texas Comptroller Condemns TRCC Builder Protection Agency
TRCC is the punishment phase of homeownership in Texas

How Texas Home Building Industry shaped the TRCC to regulate buyers 

NCPIRG
Homebuyers' Bill of Rights
Tips for a Better Built Home and to Protect Your Investment

Drum Major Institute
for Public Policy

Tort Deform
Report Your Arbitration Experience

Homebuilding Texas Style
And the walls came
tumblin' down

 Texas Homebuilder
Bob Perry Political Contributions

  The Agency Bob Perry Built
 TRCC Connection News
Tort Reform

NPR Interview - Perry's
Political influence movement.
Click to listen 

Texas Homebuyers
Fight for Rights

TRCC Abolish or Fix
or Pass Home Lemon Law
or
Homebuyers Bill of Rights

POLICYHOLDERS OF AMERICA POLL
82% would not vote back in office any legislator, regardless of party, that is soft on bad homebuilders?

REWARD
MOST WANTED

ARIZONA REGISTRAR OF CONTRACTORS
Have you seen any of these individuals

Pulte Homeowner Survey
Warranty & Mortgage Experience
 Click to participate

Tort Reform Feature
Texas Monthly
 Hurt? Injured? Need a Lawyer? Too Bad!

Special Money Report
Big Money and Shoddy Construction:Texas Home Buyers Left Out in the Cold
Read More
Read Report: Big Money…
Home Builder Money Source of Influence

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Homeowner Websites

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