>> thank you very much. next speaker, please. >> my name is christie. i work with other community groups. i completely echo the previous person's statements. i am really here because of the red zones in the city. they personally -- it makes me -- i am deeply pained by the pattern of exclusion, racism, that is behind all of the loan making patterns that have probably been building up for at least 10 years and now we are seeing the results of it. most families in sanford cisco happen. -- have been facing economic catastrophe. there is a story behind almost all of the foreclosures. it is very important that, as we

move for. not just that we have a moratorium, but we also work to have affordable loans for everyone, and that means may be working with a 1200 -- $12 billion that is designed at the attorney general's settlement for loan modifications or principal reductions, but i suspect we need more than that. or possibly new models, as mr. donaldson suggested. that would involve nonprofits. >> thank you very much. next speaker. >> good evening, supervisors. >> can you speak right into the mike, please? >> i am sorry.

a member of occupied staff, and modern schrader of santoses go free freedom fighters against foreclosure. i will also -- in 2006, my house was embezzled. i was in court for six years. last july 15, the court returned the property to me. 45 days later, bank of america bought my house for $275,000 for my embezzlers. now they are threatening to evict me. this means that that is the home that i have bought from my child, who died. all of my memory of my child is there. most -- people of color who

worked all their lives to secure something for the future of our children, who are being deprived of our dignity and life possessions. there initiating a petition addressed to vicky to demand that she does not enforce the foreclosures. also, encouraging people to transfer their business and personal phones to corporate banks from corporate banks -- from corporate banks to credit unions. think you. >> thank you, now speaker. -- next speaker. >> a he high. ace is a part of refund california. a coalition comprised of 1500 groups. unions and faith-based

organizations. kevin stein came up earlier to speak about the efforts we collectively have have been pushing in this state. i'm here to talk about the need for a moratorium. right now, with a lot of people who have come up, we have had to deal with a lot of cases face to face. knocking on doors, people calling at all hours meant much of the success we have had recently has taken a larger activist to keep up the fight. i note some of you are familiar with this. we're trying to get a case against wells fargo was no due process.

i hope -- in what universe and what scenario is as low is it ok to mess up in the process and still have mistakes at the end and you are given money at the federal government and there's no repercussion for any of the work you have done. i think a lot of this is that we really need a moratorium. the banks are not ready. he have demonstrated this in the last five-six years. they continue to foreclose on families without a real due process. we need to make sure that, if we want to look for solutions, that we have the time and space to do that. can i finish? the capital model is one of many solutions, mandatory situations to make israel. need the time to do that. [applause] >> thank you. next speaker, please.

>> hi, my name is robin. i have been a san for cisco resident for 20 years, now. i want to thank everybody that i've heard today. i do not think there is anyone i have listened to that i have not learned from. i want to thank supervisor wiener, who i've never had the experience to meet since i voted for you. supervisor of a los for offering the bill. i am a door knocker. i have been going with troops from the occupy center cisco housing coalition would support of ace and the santoses attendants union, so the kind of outreach we are doing is we are combing the internet for names of people who are in foreclosure, whether owners or tenants, and we go and offer them resources. the look of gratitude on their

face when they actually admit they are in foreclosure and the way they practically snatch the paper out of your hand, they are so grateful for those resources, is i opening. i would urge all of you to take a torn -- take a turn door knocking. we would be happy to hook you up with an afternoon of it. i did hear one story that was particularly, it is etched in my mind. i was handing out fliers for a community meeting we are setting up, and we went to a multi function office where you can go and use the fax machine or buy tickets tor you can get your paperwork notarized, and the owner of the shop looked at me and said you are about two years too late. i hope not. i hope there are a lot of people out there we can still help out. by enforcing this moratorium.

i would also urge you to keep the public informed along the way if this thing passes. let us know the progress of what is going on. i was asked to present the 60 signatures that he collected in support. >> thank you. >> good evening, my name is aaron. in an organizer with ace. i support the moratorium and the support of the attorney general homeowner bill of rights. i have been able to interact with a lot of families that are somewhere in the foreclosure process who have already lost homes. monocot had to leave before she got a chance to speak today, but she was offered a forbearance agreement by wells fargo when she was unemployed. her home was sold at public auction the next day if even though she made a payment the day before.

she is now still in negotiations with wells fargo. they are not negotiating with her. she is waiting for weeks at a time to try to hear something. we try to stop her conviction and have her home resend it. her case highlights this process where homeowners are often in limbo, often waiting. we will send in paperwork for seeking assistance. maybe sometimes have hope of it, yet too often have been snatched away and often without their knowledge and last minute. it seems like this due process ps is clearly something that is needed. i think the last of faith -- lack of faith at this point with people i've talked to with the banking institutions in this country, something we need to continue to address to and fear and how to create new programs

to figure out how to create families in new homes. as the six families who have been hard-hit by this crisis. thank you for your work and let's keep pushing. thank you. [applause] >> thank you. are there any other members of the public would like to comment? seeing none, we can close public comment. >> thank you. public comment is closed. we had two hearings, and then before us is action item number5, the support for state and federal measures to protect homeowners and a special of activities and santoses go. in conclusion, supervisor? >> al qaeda actions would you like to take? >> i think they are related -- i would like, if the committee

would like to entertain an amendment that would essentially at a result, clause that would call upon the comptroller to conduct a forensic audit of the foreclosures that were the subject of the review by the recorder. so essentially the audit would be more in depth and would include all of the foreclosures, not just the 282. our colleague has urged us. is there a motion? supervisor cohen. >> i want a clarification exactly what you believe you will be getting from another report on this item. >> what we heard from the district attorney was that they have not been able to really use the information for the purpose

of actually deciding whether or not to pursue a criminal case with respect to any of the 382 cases that were looked at. from what i understand, without putting words in mouse, is that what they are recommending is that the audit be conducted -- instead of just a review that happens, a forensic audit, which would be the kind of audit, in terms of its depth and detail, that a district attorney's office or a city attorney's office would be able to use for purposes of criminal action or civil action. it would be a more in-depth review, not only of the 382 cases, but also of the remaining 21 or 20 -- 2000 cases that were not looked at. i'm sorry?

2400, i am sorry. >> if i may, i like the idea of -- i wonder if it is possible to discuss in terms of the scope and then bring that to the full board as a result clause amendments. i think it is one of the best suggestions that have come out. >> i am very supportive of this as well and i look forward to the communication between the comptroller's office. are there any other concluding remarks. >> i would like to thank all the members of the public who are

here. thank you for your patience to speak and for speaking in a timely way as well during public comment. i want to thank the department for being here and sharing their work. clearly, we have a long ways to go to be able to put teeth on measures we can propose here at a local level that can protect consumers, households against foreclosure, and i look forward to working with everyone on that. when it comes to work in my office, there are two things i am working on related to our hearing for item number four. that is -- i am working on reckless -- i am working on legislation. one is tenants who are -- homeowners who have been foreclosed on. protection rights to stay in their homes. i am looking on his supporting that. i can assure the people do not

have to face evictions, they will be able to stay home if it is taken over by a bank. i am looking at that with the city attorney's office right now. i am also looking for ways we could apply to ensure that, when there is a change of title and transfer property during a foreclosure, that we could actually apply the real estate transfer tax to banks that are currently not paying a tax when there is a foreclosure and the transfer of title. currently, our transfer tax provides a britain exemption for banks in those instances. we are looking at howthose are m looking at. that is the strategy that we will employ a. i look forward to developing a working relationship with the community-based organizations end our stake departments to

ensure better coordination and greater resources so that we are supporting consumers in households against foreclosures. we look forward to working with everyone on that. when it comes to hearing number 4, we can continue to the call of the chair on the resolution and would wholeheartedly urge your support to move forward with a recommendation from committee. >> thank you. >> much in the spirit of the work that supervisor avalos is doing, our office is also looking at matters to address the foreclosure issue. there will be more information coming. probably on tuesday. >> supervisor wiener.

>> i want to thank you for calling the hearing. it is useful for everyone to get into a room together. i will be voting for it today. i will be voting for it when it comes to the full board. we take time to talk to comptroller before the request. i have no idea what it will do to take to evaluate vest. the foreclosures. that would also be the to consult with the city attorney if the purpose is to generate something that can be useful. i think it makes sense to take the time to do that. i appreciate that. the one question i have about september raise -- september 8 is the singling out of wells fargo. this industry in general has

caused a huge problem for the city and this country. some of the loans that were made and some of the practices related to foreclosures. wells fargo seems to be the largest lender in terms of the number of mortgages. there is plenty of blame to go around. you listen to everybody about wanting a moratorium and supporting people being foreclosed on and supporting the state-level and national actions, it seems to me that focusing on wells fargo almost reduces the attention on the other banks. we look at bank of america, which is not an innocent party.

they abandoned san francisco and went to the east coast. compared to wells fargo that employs thousands of people and gives back to the community. that is not to discount anything that wells fargo has done. this is a problem for this entire industry. we should be having a moratorium throughout the industry. that is the question that i have. i will support whatever form comes out of committee. it will be my preference stock to focus so much on wells fargo as opposed to wells fargo being one of several banks issued. this is page one, lines 6 and 7. page 3, line 21-22, down to

subprime loans. on 16 and 17, the words especially and the locally based bank giants. that will result in a much cleaner resolution. we want a moratorium and the banks have behaved very badly including wells fargo. this does that without going after the one that is the san francisco-based bank. that is my view on it. i made my view known. i will be voting for this resolution. >> there is a resolution on the table. supervisor cohen. >> i second it.

>> he has made a motion to strike wells fargo. >> thank you very much. it has been a long day. i have mixed feelings about my personal experience with said bank with my own foreclosure. when i read the language i was uncomfortable. it was almost petty. the resolution is thoughtful and captures what i want to express. i was a little uncomfortable with the singling out of the especially wells fargo. i will be supporting best no matter of which way we go, whether we accept the amendments

or we do not. i just wanted to go on record that i was appreciate it more clean version. this is important. i would urge my colleagues to keep the in. we do mention bank of america and union battles as well. they are our banking partners as well. wells fargo is still here. that describes itself as a community financial institutions as well. they do a lot of philanthropy. we are talking about on e part of the work that is not as strong as it can be to protect households against defaults. we need other banks to help from

moving toward foreclosure. there are a bank that is based in san francisco. the federal reserve last july had penalized wells fargo at $85 million. other banks have not received such a penalty before around the foreclosure crisis. that was the reason for wanting to include wells fargo in the release. i think it makes a stronger statement. >> colleagues, can i say that i am supportive of the process of the drafting of the resolution? i understand the sentiments. and being even-handed against all banks instead of singling out one that is are locally based bank. i will be supporting the process of the original language.

can we call a roll call on the motion? >> i am not in -- critical of the inclusion of the language. i understand that i am not trying to excuse or lessen wells fargo's role or any other bank. >> can we have a roll call? >> on the motion to amend, supervisor cohen. >> aye. >> aye. >> no. >> mr. chair, we have two ayes and one no. >> the resolution passes. >> i would like to move forward with a positive recommendation. thank you. thank you so much, supervisors for being here.

is there any other business before us? item number 4, supervisor avalos has asked us to continue to the call of the chair. -- without objection, cabling item three. is there any other business before us? meeting is adjourned. thank you, everyone.