Specifically, plaintiff organizations will use over $35 million of the settlement to promote home ownership, neighborhood stabilization, access to credit, property rehabilitation, and residential development in the 39 metropolitan areas at issue in the case, including Dayton. MVFHC and the other plaintiffs will invest the vast majority of the settlement monies directly back into the communities they allege were harmed by Fannie Mae’s conduct. Today’s agreement has far-reaching implications. ”We will make strategic reinvestments into the communities of color that are hardest hit, with the goal that those investments begin stabilizing neighborhoods,” said Jim McCarthy, MVFHC’s President/CEO. The plaintiffs collected more than 49,000 photographs revealing poorly maintained properties in Black and Latino communities, particularly as compared to properties in predominantly White neighborhoods. Of those properties, 90 were located in the Miami Valley. The plaintiffs’ 2016 allegations against Fannie Mae arose after a comprehensive, four-year investigation of more than 2,300 Fannie Mae-owned foreclosed properties in 39 metropolitan areas in the country. “Fourteen years after the housing crash of 2008, and the predatory mortgage lending that preceded it, the Miami Valley Fair Housing Center continues to challenge issues that negatively impacted our neighborhoods,” said Ron Jackson, Chair of the Board of Directors of the Miami Valley Fair Housing Center. The case was the first time a federal court confirmed the nation’s fair housing laws cover the maintenance and marketing of Real Estate Owned (REO) properties. In the case, MVFHC and the other plaintiffs alleged that Fannie Mae maintained and marketed its foreclosed homes in predominantly White neighborhoods while allowing similar homes in communities of color to fall into disrepair and this differential treatment exacerbated the damage caused by the 2008 mortgage crisis and impeded recovery from the crisis in neighborhoods of color. The settlement will help rebuild and strengthen communities of color in 39 metropolitan areas including the Miami Valley. The settlement will directly and immediately benefit the communities of color throughout the Miami Valley region and nationwide hit hardest by the foreclosure crisis and its aftermath.įebruToday, The Miami Valley Fair Housing Center (MVFHC), along with the National Fair Housing Alliance (NFHA) and 19 other local fair housing organizations throughout the country, reached a landmark $53 million agreement with Fannie Mae (formally known as the Federal National Mortgage Association) to resolve a case arising from allegations that Fannie Mae treated foreclosed homes in communities of color unfavorably. We specialize in designing and building custom equipment to match your exact needs and provide products and services for emergency service, a system upgrade, or completely new dairies.Local Fair Housing Center and Other Fair Housing Groups Reach Historic Settlement with Fannie Mae Focused on Rebuilding Communities of Color We serve dairies of all sizes, ranging from fewer than fifty to many thousands of cows. Providing you with the products and solutions you need is our priority, so we maintain wholesale accounts with over 60 vendors. We perform advanced scheduled maintenance, as part of annual contracts or on a time and material basis. We also operate a supply route offering products for cleaning milking equipment, products for udder hygiene, and basic equipment maintenance.
VDFA sells, installs, and services equipment for milking cows, cooling milk, and managing the herd and the milking staff. As an innovative leader in our field, we are problem solvers with success in developing creative solutions, developing and accessing a host of unique products for dairymen nationwide. We are a dealer of dairy equipment, cleaning, and udder hygiene products.
Valley Dairy Farm Automation is located in Rock Valley, Iowa and has been serving northwest Iowa, southeast South Dakota, and southwest Minnesota since 1982.
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