Victory!

Thanks to everyone for all you have done to bring us to victory!  Please check out the letter hand delivered to the MA State House leadership.  

NATIONAL COALITION AGAINST PREDATORY LENDING

AN ACT RELATIVE TO STRENGTHING MASSACHUSETTS’ ECONOMIC LEADERSHIP

HOUSE BILL No. 4804/SENATE BILL No. 2869

Section 256 of S. 2869, Shared Appreciation Mortgage Language

 

August 29, 2024

Sen. Karen Spilka, President

Massachusetts Senate

State House, Room 332

24 Beacon Street

Boston, MA 02133

karen.spilka@masenate.gov

 

 

 

Madam President Spilka:

 

On behalf of the members of the National Coalition Against Predatory Lending (NCAPL), this letter and the attachments are submitted as a petition campaign  regarding Section 256 of the Senate Bill No. 2869, which has been in the conference committee during the formal and now informal legislative session.  NCAPL members write this letter to strongly oppose Section 256 in its entirety and to request that the committee not include this section in the final economic development bill.  Furthermore, the attached signers of the petition request that Section 256 of S2869 not be release to the House floor for any vote while the body is held in informal legislative session.

 

NCAPL members have signed and gathered signatures from supporters that total an estimation of 400 signatures.  In the short span of time, this petition is a representation that Section 256 of S2869/H4804 in its entirety is harmful language that seeks to undermine longstanding consumer protections and mortgage regulations.  Additionally, the petition is a message that no one entity can use the legislative body to create laws for their sole benefit, in this case by removing important protections the law gives vulnerable and protected citizens. 

 

Please circulate our signed peition opposing Section 256 of S2869/H4804.  Section 256 is a bailout bill for BlueHub Capital and will become a model for other bad actors committing mortgage lending violations. If you have any questions, please feel free to contact me.  Thank you for your time and consideration of our views and action.

 

Sincerely,

 

 

 

 

Nardella M. Thomas

National Coalition Against Predatory Lending

508-410-8834

nardella_5@yahoo.com

 

Cc: Senator Barry Finegold, Second Essex, and Middlesex, barry.finegold@masenate.gov

Cc: Senator Michael Rodrigues, First Bristol, and Plymouth, michael.rodrigues@masenate.gov

Cc: Senator Peter Durant, Worcester, and Hampshire, peter.durant@masenate.gov

Cc: Senator James Eldridge, Middlesex and Worcester, james.eldridge@masenate.gov