Page 584 - untitled

Notes to Chapter 1 555

32. Bob Gnaizda, interview by FCIC, March 25, 2010.
33. James Rokakis, interview by FCIC, November 8, 2010.
34. Ibid.
35. Fed Governor Edward M. Gramlich, “Tackling Predatory Lending: Regulation and Education,”
remarks at Cleveland State University, Cleveland, Ohio, March 23, 2001.
36. Rokakis, interview.
37. John Taylor, chairman and chief executive officer, National Community Reinvestment Coalition,
letter to Office of Thrift Supervision, July 3, 2000, provided to the FCIC.
38. Stein, testimony before the FCIC, transcript, pp. 73–74, 71.
39. U.S. Department of the Treasury and U.S Department of Housing and Urban Development, “Joint
Report on Recommendations to Curb Predatory Home Mortgage Lending” (June 1, 2000).
40. Federal Reserve Board press release, December 12, 2001.
41. Sheila C. Bair, written testimony for the FCIF, First Public Hearing of the FCIC, day 2, panel 1:
Current Investigations into the Financial Crisis—Federal Officials, January 14, 2010, p. 11.
42. Fed Governor Edward M. Gramlich, “Predatory Lending,” remarks at the Housing Bureau for
Seniors Conference, , January 18, 2002.
43. Sheila C. Bair, testimony before the FCIC, First Public Hearing of the FCIC, day 2, panel 1: Cur-
rent Investigations into the Financial Crisis—Federal Officials, January 14, 2010, transcript, p. 97.
44. Sheila C. Bair, interview by FCIC, March 29, 2010.
45. 2009 Mortgage Market Statistical Annual, 1:220, “Top B&C Lenders in 2000”; 1.223, “Top B&C
Lenders in 2003.”
46. Ibid., 1:237, “Subprime Origination by State in 2001”; and 1:235, “Subprime Originations by State
in 2003.”
47. Stein, testimony before the FCIC, September 23, 2010, transcript, p. 72.
48. Gail Burks, interview by FCIC, August 30, 2010.
49. Lisa Madigan, written testimony for the FCIC, First Public Hearing of the FCIC, day 1, panel 2:
Current Investigations into the Financial Crisis—State and Local Officials, January 14, 2010, p. 4–5;
“Home Mortgage Lender settled ‘Predatory Lending’ Charges,” Federal Trade Commission press release,
March 21, 2002.
50. 2009 Mortgage Market Statistical Annual, 1:220, “Top 25 B&C Lenders in 2003.”
51. Madigan, written testimony for the FCIC, January 14, 2010, pp. 4–5.
52. Ed Parker, interview by FCIC, May 26, 2010.
53. Prentiss Cox, interview by FCIC, October 15, 2010.
54. Ibid.
55. 2009 Mortgage Market Statistical Annual, 1:45, 47, 49, 51.
56. Alphonso Jackson, interview by FCIC, October 6, 2010.
57. Cox, interview; Madigan, written testimony for the FCIC, January 14, 2010, p. 11.
58. Cox, interview. Madigan, testimony before the FCIC, January 14, 2010, transcript, pp. 121–122.
59. John D. Hawke Jr. and John C. Dugan, written statements for the FCIC, Hearing on Subprime
Lending and Securitization and Government-Sponsored Enterprises (GSEs), day 2, session 2: Office of
the Comptroller of the Currency, April 8, 2010, pp. 4–5 and pp. 4–8, respectively.
60. Madigan, written testimony for the FCIC, January 14, 2010, pp. 9, 10.
61. Cox, interview.
62. 2009 Mortgage Market Statistical Annual, 1:4, “Mortgage Originations by Product.” Nonprime =
Alt-A and subprime combined.
63. Marc S. Savitt, interview by FCIC, November 17, 2010.
64. Rob Barry, Matthew Haggman, and Jack Dolan, “Ex-convicts active in mortgage fraud,” Miami
Herald, January 29, 2009.
65. J. Thomas Cardwell, written testimony for the FCIC, Hearing on the Impact of the Financial Cri-
sis—Miami, session 3: The Regulation, Oversight, and Prosecution of Mortgage Fraud in Miami, Sep-
tember 21, 2010, p. 8.
66. Savitt, interview.
67. Gary Crabtree, written testimony for the FCIC, Hearing on the Impact of the Financial Crisis—
Greater Bakersfield, session 4: Local Housing Market, September 7, 2010, p. 6.
68. Ibid.