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Bank Of America Minority Home Loan Settlement - $335 Million

Bank Of America has agreed on a $335 million dollar settlement after claims that it's Countrywide Financial unit gave higher interest rate ...


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On the Record with Tom Pisapia

Pisapia, a 1973 Northern Illinois University graduate, began his finance career at the First Savings and Loan Association of Sycamore in 1976. Through the years, Pisapia has worked for Fannie Mae, Merrill Lynch Capital, the Federal Home Loan Bank and the FDIC/RTC.

Pisapia met with MidWeek reporter Katrina Milton to discuss his book, his career in finance and how banks caused the downfall of the savings and loan industry.

Milton: Are you originally from the DeKalb area?

Pisapia: I’m originally from Chicago, but after 36 years, I’m back in DeKalb. I first came to DeKalb to get my undergraduate degree in 1968, and I stayed here for 14 years. After graduating college, I was out of work when I got a call from the president of the savings and loan in Sycamore. At the time, I wasn’t thinking of a career in finance, not at all. I had a major in psychology and a minor in business administration, but I learned a lot on the job. I ended up taking courses and later became a teacher.

Why did Bush ask/order fannie mae to make 440 BILLION in home loans to minorities in 2002?

I keep seeing the same lies being posted by republicans.
The govt can not force a bank to make a risky loan.
Republicans controlled congress 12 years from Jan 1995 to Jan 2007. They write or change the laws that banks have to follow.

Are you crazy.......He did not. That was all the Democrats doing. Check out what Maxine Waters said when Bush wanted oversight of FM&FM. Don't be so stupid. Research it.