Bay State Banner 6-12-14

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ARTS AND ENTERTAINMENT

Panel explores issues of race in ‘new economy’............pg. 3

Roxbury International Film Festival pg. 14 FREE

Thursday • June 12, 2014 • www.baystatebanner.com

FREE

Bank of America quits mortgage program Martin Desmarais

Gubernatorial candidate Juliette Kayyem makes a point while fellow contenders Steve Grossman, Martha Coakley and Don Berwick look on during a Democratic forum held at Roxbury Community College. (Banner photo)

Gubernatorial candidates court voters at RCC forum Yawu Miller Faced with questions about housing, criminal justice, economic development and other public policy areas, Democratic candidates for governor spoke about their accomplishments and their policy positions during a candidate forum sponsored by a collection of ward committees representing black, Latino and white liberal voting blocs in Boston. The forum was held at Roxbury Community College and sponsored by the Democratic committees from wards 4, 9, 10, 11, 12, 14 and 15, representing parts of Back Bay, the South End, Roxbury, Jamaica Plain and Dorchester.

Democratic activists estimated there were more than 100 delegates to the state convention in the audience, most of them people of color. The six gubernatorial candidates spoke following a forum with three candidates for lieutenant governor. Asked what he would do to reduce the number of homeless Massachusetts families living in motels, doctor and former Obama administration official Don Berwick said he would restore funding for housing vouchers, which have been cut from $120 million in past years to just $60 million. “I believe housing is a human right,” Berwick said. “We have to have more support than we have for housing vouchers.”

Joe Avellone, vice president at a biopharmaceutical research firm, advocated more funding for mental health and substance abuse, arguing mental illness and addictions are major drivers of homelessness. Juliette Kayyem, a former U.S. Department of Homeland Security advisor, advocated changing zoning laws to create more housing as well as increasing funding for social services and job training Treasurer Steve Grossman took a similar tack, advocating construction of low and moderate income housing on surplus land currently owned by the MBTA, Massport and other state agencies. candidates, continued to page 21

able Housing Alliance. “We do not understand why the largest In a move that has frustrated bank in the state is not offering the housing officials across Massachu- most affordable and sustainable setts, Bank of America has pulled program for low- and moderateout of the state’s most affordable income first time homebuyers. mortgage lending programs. “It is just not acceptable at this The bank will instead offer time,” she added. mortgages to the same customBank of America is mostly ers for as much as $500 more a mum on the move, saying only month — an increase that housing the decision to not take part in the experts say low- and moderate-in- ONE Mortgage program reflects come homebuyers cannot afford. corporate policy. For the ONE Mortgage pro“As previously reported, offergram, which features low, fixed- ing one-off products on a staterate financing and state-backed by-state basis doesn’t align with loans that relieve first-time home- our efforts to simplify the combuyers from pany,” a Bank the cost of priof America vate mortgage “We do not understand spokesperson insurance, the said in a statel o s s i s e v e n why the largest bank in ment. “We’re greater. The the state is not offering above the inMassachusetts the most affordable and dustry average Housing Partfor lending to nership pro- sustainable program low- and modgram — and for low- and moderateerate-income its predecesborrowers in income first time sor — average the Boston 800 to 1,000 homebuyers. area, and loans a year — Esther Maycock- we certainly for a total of expect that Thorne trend to conapproximately $275 million, tinue. Bottom of which Bank line, we remain of America has averaged 300 loans committed to helping all qualified a year for about $75 million, ac- borrowers purchase homes.” cording to Tom Callahan, execuBut Maycock-Thorne is not tive director of the Massachusetts satisfied with that answer. Affordable Housing Alliance. “They come into our neighBank of America has — and the borhoods and they service conbanks it has acquired in a number sumers in more than one way — of mergers have — been respon- savings, credit, student loans,” said sible for over 40 percent of the Maycock-Thorne. “For them to loans offered in the affordable then turn around and say that one mortgage lending programs the size fits all and they are not caterstate has run, dating back over ing to one particular community two decades. or one particular state makes no “This is taking more than 300 sense. How can they say that?” loans out of the market,” said She also points out that Bank Esther Maycock-Thorne, presi- of America, which is one of the B of A, continued to page 8 dent of the Massachusetts Afford-

Haitian prime minister outlines recovery plans Yawu Miller Four years after a magnitude 7.0 earthquake nearly leveled Portau-Prince, Haiti is still digging its way out of the disaster, rebuilding housing, schools and critical infrastructure. And if Haitian Prime Minister Laurent Lamothe is successful in his efforts to attract investment to the island nation, Haiti will become a competitor in the global economy. “We hope for Haiti to be an emerging nation by 2030,” Lamothe

said, speaking during a conference of the Haiti Fund held at The Boston Foundation last week. The conference brought together private foundations and donors to discuss challenges to rebuilding Haiti. A U.S.-educated business man, Lamothe built a global telecommunications firm specializing in developing countries and was recognized in 2008 as an Entrepreneur of the Year by the accounting firm Ernst and Young. Haiti, continued to page 11

Haitian Prime Minister Laurent Lamothe is seeking investment in the island nation, which is rebuilding from the devastating 2010 earthquake that left much of the capital in rubble. (Boston Foundation photo by Tony Irving)

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