EthnicMajority

(Boston Globe) Thousands of black and Latino homeowners in Massachusetts will likely save money under a $125 million subprime lending settlement with a subsidiary of H&R Block Inc. unveiled today by attorney general Martha Coakley. The agreement resolves allegations of unfair lending and discriminatory practices by Sand Canyon, formerly known as Option One.

Under the deal, Sand Canyon, based in Irvine, Calif., will pay $9.8 million to the state and direct American Home Mortgage Servicing Inc. — which services about 5,500 loans in Massachusetts that originated with Option One — to begin a $115 million loan modification program.

Homeowners with Option One loans could receive lower monthly payments, andinterest rates, and have their principal balances reduced to reflect current property values. In addition, some borrrowers will receive refunds for fees they paid that the state considered excessive.

“Option One made loans that it knew were likely to fail and it discriminated against African-American and Latino borrowers,” Coakley said during a press conference.

Full story…

(Boston Globe) Governor Deval Patrick, deepening his imprint on the state’s highest court, nominated what would be its first Asian-American justice yesterday, declaring that the highest ranks of a state’s government should reflect the diversity of its people.

He nominated Appeals Court Justice Fernande R.V. Duffly, 61, to fill the seat held by Roderick L. Ireland, who on Monday was elevated to chief justice, becoming the first African-American to lead the Supreme Judicial Court.

If confirmed by the Governor’s Council, Duffly would be Patrick’s fourth appointment to the seven-member court, the Western Hemisphere’s oldest appellate panel.

“For someone who has spent much of her career as a lawyer serving the public interest, there can be no higher calling than this,’’ said Duffly, a Cambridge resident. Duffly said she supported the SJC’s 2003 decision to legalize gay marriage as a matter of equality.

Full story…

(FoxNews) The Massachusetts Commission Against Discrimination is investigating a racially charged advertisement that was in a local newspaper.

The ad announcing land for sale appeared in the New Bedford Standard-Times recently and was placed by Harmon Law Office in Newton, MyFoxBoston reports.

The advertisement stated that the land “…shall not be sold, leased or rented to any person other than of the Caucasian race or to any entity of which any person other than of said race shall be a member, stockholder, officer or director.”

“Such restrictive covenants have long been deemed unlawful and unenforceable under Massachusetts statute, and conveyance of any such deed is expressly prohibited under Massachusetts anti-discrimination law,” said MCAD Chairman and Commissioner Malcolm Medley. “Advertising such a sale may also be unlawful under the statute. Our obligation is to investigate this matter to determine whether a violation of law has occurred.”

Full story…