We all know her story by now and how the Massachusetts Division of Banks (DOB) tried to railroad and scapegoat the black female mortgage broker for doing a handful (literally 5) stated deals. The Division had previously ignored her complaints against some real estate "professionals" at Fidelity Mortgage who ripped her off and who had their licenses revoked in Vermont. Fidelity Guarantee Mortgage Corporation v. T Reben, 809 F2d 931 (1987). Read about it here. Her deals put no one in harms way and there were no foreclosures. Unlike her Caucasian counterparts at Fidelity, Ms. Gibbons had a top rating with no sustained complaints. She followed the dictates and policies of her lenders, who in turn are regulated by the
As I noted in the Arbitrary and Capricious post written to Hearing Officer Neil Tobin, I've done and witnessed dozens of Stated Income Deals over the years between NH and MA, and the DOB knows damn well Ms. Gibbons would have called me as a witness. So what they did was try every procedural trick in the book, up to and including failing to provide Ms. Gibbons her own file to defend herself with.
Local Civil Rights people failed to get involved (I'm not naming names or releasing emails right now but she and I are both bloody well pissed off at these guys and with Good Reason) and local attorneys wanted a ton of money to help Ms. Gibbons, even though she has a valid Civil Rights case that could be taken on a contingency. The Division has issued phantom unsigned documents to the MCAD in her Civil Rights case in which she is proceeding pro se, but with some general assistance from her prior attorneys who are not well-versed in Civil Rights.
But it is the pressure from the KingCast blogs that has kept the DOB in a tizzy, and I can prove that because of the sheer amount of time they spent reading my blogs. Anyway, here is Ms. Gibbons and me discussing the Quincy Road Rage case on a YouTube re-broadcast of one of our radio shows.
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