Linked with The housing organization Neighborhood Assistance Corp. of America NACA, with International Accountability Project IAP, and with Fairness.com.
Wall Street made billions off the backs of homeowners. But when the mortgage crisis blew up, a pit bull named Bruce Marks stood up for the Average Joes and, incredibly, got some of the biggest banks to bend … And sadly, a whole lot of desperate people had to turn to Marks for help this year, and a whole lot more will need his emergency services in the year ahead … The CEO of the nonprofit Neighborhood Assistance Corporation of America, or NACA, Marks works out of a stripped-down office above an electrical-supply store in Jamaica Plain. Yet over the years he has become one of the most feared men in the corporate boardrooms of the nation’s leading financial institutions … (full text, December 30, 2007).
He says: « NACA has received requests for help from some 3,000 Homeowners nationwide whose loans are serviced by Citi » … and: « We have refused to accept anything less than a permanent interest-rate reduction for the homeowner » … (full text, March 25, 2008).
Bruce Marks – USA
Listen the video: NACA’s CEO Bruce Marks in Global Player, Part 1/4, 14 min, Sep 17, 2007.
BAILOUT BULLIES, ENTITLEMENT CULTURE GONE MAD, April 2, 2008.
His statement: My name is Bruce Marks. I am Chief Executive Officer of the Neighborhood Assistance Corporation of America (NACA), a non-profit housing services and advocacy organization. NACA is known for its « Best in America » mortgage program which offers low and moderate income Americans home mortgages with low interest rates, no down payment, and no closing costs. Perfect credit is not required. Through the NACA program thousands of Americans have realized the dream of home ownership. NACA provides prime loans for « sub-prime borrowers ». NACA has 21 offices across the country with $3.8 Billion committed to the best mortgage in America. The current interest rate for NACA mortgages is 7.5% fixed for 30 years with no down payment, no closing costs, and no fees. In addition, NACA provides comprehensive housing services at no cost to the borrower. It may sound too good to be true but it is the reality for thousands of working people. People can call NACA at 1-888-302-NACA to participate in this incredible program. NACA is also known for its advocacy campaigns against predatory lenders. As the committee is no doubt aware, there are predatory lending companies out there who use misleading sales tactics to take advantage of those who, through little or no fault of their own, have been excluded from mainstream credit institutions. NACA has worked in the street, in boardrooms, in statehouses, and in this building to fight these exploitive lending practices with a great deal of success. However, despite our efforts, these practices continue … (full long text, June 21, 2000).
BOSTON GLOBE NAMES BRUCE MARKS, NACA CEO, BOSTONIAN OF THE YEAR (2007).