Consumer EditionMay/June 2008

E D I T O R I A L

Home Foreclosures Move to the Front
The months of May and June have traditionally welcomed warmer weather, where people enjoy outdoor activities such as house hunting. But this year has been a little different as the region has seen a slight decrease in the number of home seekers as the number of home foreclosures in the District has increased.
 

T H E   C O M M I S S I O N E R ' S   C O L U M N

DISB’s Mid-year Review: Time for Reflection
Due to the downturn in the economy—the increase in the price of gas and food and a reduction of income—we have had to revamp our outreach efforts. Commissioner Thomas E. Hampton reflects on how DISB continues to protect your financial interests.
 

C O N S U M E R   C O R N E R

Do an Annual Mortgage and Homeownership Check-Up
An annual mortgage and homeownership check-up will ensure there are no surprises with your mortgage.
 
Foreclosing the American Dream
While many people are aware of the problems with home foreclosures, many are still seeking answers on what causes it; and even more important, how to solve it.
 
Sidebar: The outreach challenge for housing counseling agencies
The majority of homeowners seeking counseling are already behind on loan payments, and there needs to be more innovative ways of reaching them before the rate resets exhaust all their reserves and they fall further behind.
 

S P E C I A L   F E A T U R E

Low- and Moderate-Income Residents More Likely to be Offered Subprime Loans in the District Of Columbia, according to study
DISB commissioned a study on subprime lending, which is intended to help the District better understand the impact of subprime lending on its residents, and to suggest changes that might be needed to help protect them. The study, The Subprime Mortgage Lending Study in the District of Columbia, was released June 30, 2008.
 

T H E   C O N S U M E R S'   H O W   T O   G U I D E

What to Do if a Health Insurance Company Denies Your Claim
Medical debt can quickly become overwhelming. If your claim is denied, here is some advice.
 


N E W S   Y O U   C A N   U S E

Phishing Related to Issuance of Economic Stimulus Checks
The Federal Bureau of Investigation issues a warning about spam e-mail attempting to steal customer information.

Beware of Fraudulent Company
DISB recently issued a warning against a company claiming to guarantee loans.

DISB Warns About Online Payday Lenders
District residents are warned to be wary of online payday lenders not licensed to do business in the District of Columbia.

Insurance Regulators Protect Seniors From Abusive Sales
NAIC adopted a model consumer alert to help protect seniors from unscrupulous, abusive sales practices and fraud.

DISB Wins Blue Pencil & Gold Screen Award
DISB recently won a 2008 Blue Pencil & Gold Screen Award from the National Association of Government Communicators for its general brochure.

DISB in the Community
Interacting with attendees at the Greater Washington Urban League’s Annual Housing Fair.

Addressing seniors about financial scams at the United Planning Organization’s Foster Grandparents Program.

Upcoming Events
DISB continues to focus on consumer empowerment through information. Here is a brief listing of presentations in the coming months. Check the agency calendar for updates.

DISB Issues Warning About Fraudulent Use of Agency Letterhead and Logo
The agency received several complaints of consumers being victimized by a scam in which documents bearing the logo and letterhead of this agency have been used.

New Insure U Topics Reflect Changing Nation
DISB announced the expansion of the award-winning Insure U consumer-education program with new topic areas for consumers in four life situations: domestic partners, single parents, grandparents raising grandchildren, and members of the military.

DISB Wraps up Successful Financial Literacy Month in April
The second annual Financial Literacy Month in April was wrapped up with brief updates by nonprofits on the state of financial literacy in the District of Columbia.

DISB Issues Investor Alert on Auction Rate Securities
District residents are warned to be aware of widespread problems concerning securities investments called auction rate securities.
 


DISPATCH is a bi-monthly publication from the Government of the District of Columbia Department of Insurance, Securities and Banking. It will r eplace the agency’s consumer edition of The Capital Connection. The business edition will stay intact with the same name, and is only available online. To unsubscribe, contact Michelle Phipps-Evans at (202) 442-7822 or send an email to michelle.phipps-evans@dc.gov, and type REMOVE in the subject line.