What We've Done

Citizens for Community Improvement has brought people together who have been personally impacted by predatory lending to talk, to act and to get things done. Our efforts have focused on three main goals:

1) Win back assets for families who have been misled by predatory practices.

2) Develop agreements with sub-prime lenders that outline their lending practices and create a monitoring relationship.

3) Educate the public about the dangers of predatory lending.

Won Assets for Families

• Iowa Citizens for Community Improvement has helped borrowers reclaim over $5 million in assets.
  

Developed Agreements

• In September 2002, Iowa Citizens for Community Improvement signed a lending agreement with Conseco Finance, the top sub-prime lender in Iowa. The agreement, which covers the entire state of Iowa, includes 1) a list of banned lending practices, 2) how predatory loans will be repaired, 3) a foreclosure freeze in Iowa, and 4) the formation of a partnership board to monitor lending activity in Iowa.
  
  
• As a coalition member of National People’s Action, Iowa Citizens for Community Improvment signed a partnership agreement with Citifinancial in May 2003. The agreement states that borrowers shall be provided access to the lowest cost credit for which they qualify, outlines practices that Citifinancial will not use, and covers consumer protections that will be followed. Two of Citigroup’s subsidiaries were among the top five subprime lenders in Iowa in 2001.
  
  
• In June 2003, we signed a partnership agreement with Ameriquest Mortgage, the 5th largest subprime lender in Iowa. In the agreement Ameriquest: outlines lending standards and practices they will maintain or adopt in Iowa; agrees to review loans in foreclosure to see if they conform with these standards; agrees to adjust or modify loans not in compliance with these standards to put them in compliance; and creates a CCI / Ameriquest partnership board to monitor the agreement. This new partnership agreement, which covers the entire state of Iowa, also lays the foundation for CCI and Ameriquest to work together in the future to promote stable home ownership and reduce the damage predatory lending does to our communities.

Educated the Public

• Iowa Citizens for Community Improvement has co-hosted numerous predatory lending forums in Des Moines, Council Bluffs, Cedar Rapids, Waterloo, Davenport, and Oskaloosa to educate the public about the dangers of predatory lending and how to protect oneself from unscrupulous lenders.
  
  
• Our Fair Lending Task Force was featured on Iowa Public Television’s “Living in Iowa.” The segment focused on the work of the task force, gave viewers tips on avoiding predators, and encourged families to contact CCI.