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.

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