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ยป VISIT US ONLINE @ DSNEWS.COM 79 The missing piece for your Real Estate Needs! Kamla Jaikaran (Kay) Carrington Real Estate Services (US), LLC Kamla Jaikaran (Kay) 1010 Northern Blvd, Suite 208 Great Neck, NY 11021 Phone: 718-986-6517 Efax: 718-732-2711 Email: kdjaikaran@gmail.com www.carringtonres.com BPO/CMA orders: Please email: bpoprony@gmail.com New York Todd Yovino Broker/Owner Island Advantage Realty, LLC Metropolitan New York and Long Island's Default Specialist for Over 26 Years Todd@iarny.com | 631-820-3400 www.islandadvantage.com IN THE NEWS Democrats Call for Review of New York Fed ree Democratic members of the U.S. House of Representatives have signed a letter urging the federal government to investi- gate the Federal Reserve Bank of New York (FRBNY) and its monitoring of big banks. Reps. Maxine Waters (California), Al Green (Texas), and Keith Ellison (Min- nesota) have joined Sen. Elizabeth Warren (D-Massachusetts) in calling for hearings to investigate the bank after a story was pub- lished by ProPublica about Carmen Segarra, a former Federal Reserve investigator who was frustrated by her bosses' lack of action against Goldman Sachs. Segarra made public secret audio recordings she made of her supervisors. e letter from the four Democratic Congress members was addressed to two Republican representatives, Jeb Hensarling of Texas and Patrick McHenry of North Carolina, who are both senior members of the House Financial Services Committee. Hensarling has the authority to call hearings as the committee chairman, but so far, he has not done so. "e article ... suggests that additional scrutiny is needed to ensure that manage- ment practices and workplace culture at the FRBNY do not serve to undermine the effectiveness and integrity of the FRBNY's supervision of the financial institutions under its purview," the Democratic Congress members wrote. In the letter, the lawmakers also noted that Hensarling has been critical of the Consumer Financial Protection Bureau's (CFPB's) regulatory actions, and they pointed to his committee's dedication of resources in reviewing the bureau's practices. e Democratic coalition wrote that they hope the House Financial Services Committee will give the same attention and resources to investigating FRBNY as it has to reviewing the practices of CFPB. New York's Homeowner Protection Program to Receive Further Funding e office of New York Attorney General Eric Schneiderman is committing up to $40 million in additional funding to aid organizations that work through the state's Homeowner Protection Program (HOPP) to provide housing counseling and legal services to struggling homeowners, Schneiderman announced. e total amount of funding Schneider- man's office has committed to helping New York homeowners stay in their homes now stands at $100 million. HOPP was created in 2012 with an initial $60 million in funding from the attorney general's office. Since then, the program has provided relief to some 34,000 families who were either struggling to make their mortgage payments or facing foreclosure, Schneiderman said. "After just two years, our Homeowner Protection Program has helped tens of thousands of New Yorkers in danger of losing their homes. is additional $40 million extends my commitment to help homeown- ers and communities across New York recover from the devastating impact of the housing crisis," Schneiderman said. "No individual or family should have to navigate the foreclosure process alone. By funding housing counseling and legal services, we are keeping families in their homes and stabilizing struggling com- munities across the state of New York." HOPP was intended to last three years upon its launch in 2012, but the latest addition in funding extends the program another two years. Schneiderman's offfice announced that in its first two years, HOPP has allocated funding to 89 housing counseling agencies and legal service providers all over the state of New York, which in turn offer their services for free to struggling homeowners. Schneiderman announced the additional funding in conjunction with releasing the findings of a new report on HOPP's second year at the annual conference for the New York State Coalition for Excellence in Homeownership Education held in Albany on September 29. "I commend Attorney General Schnei- derman for his tireless efforts to assist New Yorkers through this initiative," Daniel P. McCoy, Albany County executive, com- mented. "Even today we are seeing the effects of the foreclosure crisis in the Capital District. Programs like HOPP provide the necessary resources for those residents who are desperately trying to hold on to their homes and it is worthy of our support." New York AG Sues Law Firms for Mortgage Loan Relief Scam New York Attorney General Eric Schnei- derman has sued two law firms and their principal attorney in a New York County Supreme Court, accusing them of participat- ing in a fraudulent mortgage rescue scam. Schneiderman filed a suit against Litvin