CIOP GOES TO WASHINGTON DC - May 2006

Washington, D.C. - Twelve members of CIOP visited the nation's capitol May 6 - 8 for the 35th annual National People's Action Conference.

An important outcome were meetings with the offices of Senators Durbin and Obama on putting back on track evening bus service in Springfield. A pilot project, approved by Congress last year, is stuck in the federal bureaucracy. Both offices committed to do what was necessary to release funds for the pilot project.

CIOP leaders also met with the new head of Office of Comptroller of the Currency (OCC), regulator of national banks.

CIOP NEWS NOVEMBER 2005

ISU and Wesleyan Students
Support Living Wage

Over 200 Illinois State and Illinois Wesleyan students attend CIOP LIVING WAGE teach-ins over 2 days (Nov. 15, 16) Students commit to cell phone blitz of Bloomington arena management office saying their labor as students seeking employment at the arena is worthy of LIVING WAGE pay rates.

Illinois Wesleyan poll of Bloomington reveals overwhelming support for LIVING WAGE. 70% of Bloomington residents believe the City should pay arena workers a LIVING WAGE. (See study on left)

Renegotiating anti-predatory agreement

Upcoming meeting November 30

CIOP leaders join community leaders from 6 cities and NTIC (National Training and Information Center) in upcoming negotiation meeting with Citifinancial in Baltimore, MD (national headquarters of Citifinancial) November 30th. With the previous 2 year written anti-predatory lending agreement expiring, CIOP leaders plan to continue Citifinancial commitment to review & repair loans and increase positive reinvestment activities.

CIOP LOW DOWN PAYMENT HOME PURCHASE PROGRAM

Fannie Mae adopts CIOP LOW DOWN PAYMENT HOME PURCHASE PROGRAM as national policy now called "My Community Mortgage". Based on the success of the CIOP pilot effort (over 150 affordable loans being made in Central Illinois) and 7 other cities nationally through the NTIC network, Fannie Mae is rolling out the program nationally. Key elements of My Community Mortgage/CIOP Home Purchase Loans include: $500 down payment, reduced private mortgage insurance cost, flexible underwriting, standard market interest rates (no points, no fees.) The home loans are available through CIOP's lending partner, National City Bank.