The Association of Community Organizations for Reform Now (ACORN), an organization that represents the needs of low-to-moderate income families, chose an unlikely staging area for its most recent demonstration: the Mortgage Bankers Association’s (MBA) Nonprime and Specialty Lending Conference at the Palmer House Hilton in Chicago.
ACORN protestors interrupted an ongoing MBA session on Tuesday to ensure the MBA heard their concerns about the need for best practices in origination and loan servicing, ACORN said in a press release.
But to the MBA, the visit was more of a disruption that failed to create an open platform in which participants could benefit from the exchange of mutual and thoughtful dialogue.

“MBA was disappointed with the decision by ACORN to conduct a disruptive protest that did not allow for any opportunity for constructive dialogue,” said Jonathan Kempner, chief executive officer of the MBA. “Historically, we have always been receptive to working with ACORN on overlapping issues in a productive manner, just as we did in the aftermath of the Gulf hurricanes.”
ACORN, however, said the protest was about pushing for immediate changes—changes that would help borrowers like 82-year old Sadie Booker—a homeowner who recently lost her job, but who was able to save her home by working with ACORN on a loan modification.
In a statement, the nonprofit said, “ACORN wants the MBA and its members to agree to four immediate actions to keep people like Ms. Booker in their homes: permanent loan modifications to make home mortgages affordable; ban payment options that increase debt of homeowners; demand brokers work in the best interest of the consumer to get them the lowest cost loan possible; and support bankruptcy code reform to keep families in their homes.”
The MBA’s response highlighted what the organization has already accomplished on the loss mit side of the business model.
“According to the HOPE NOW Alliance, loan servicers have helped more than a million at-risk homeowners avoid foreclosure since June of 2007,” the MBA said. “Despite ACORN’s disruptive efforts, MBA and its member companies are continuing to work to help hundreds of thousands of struggling homeowners find solutions to their current situation.”