Final Task Force Report Now Available

The final report of the Governor's Task Force for Homeowner Security was issued on December 24, 2007.

View the Full Report:

Full Task Force Report (PDF) * - File Size: 3.5 MB

Or View the Report by Section:

Section One, Pages 1-27 (PDF)* - File Size: 333 KB
Introduction, Executive Summary, Overview of State and National Market Conditions, and Task Force Recommendations.
Section Two, Pages 28-42 (PDF)* - File Size: 476 KB
Historical information and background regarding the subprime mortgage market and specifics about the regulatory environment in Washington and at the Federal level.
Section Three, Pages 43-47 (PDF)* - File Size: 138 KB
Additional comments from Task Force members on how best to address Washington State's mortgage crisis.
Section Four - Appendices, Pages 48-88 (PDF)* - File Size: 2.66 MB
Supplemental tables and graphs.

About the Task Force

On September 17, 2007, Governor Chris Gregoire announced that she has formed a Task Force for Homeowner Security to evaluate instability in the national subprime mortgage market and ensure that the impact of this national trend is minimized in Washington.

While the Washington economy is strong and the state is not yet seeing foreclosures and defaults at the same rate as other states, Governor Gregoire is concerned for Washingtonians who may be at risk of losing their homes due to the unstable lending market. Learn more about the formation of the Task Force and view the meeting schedule.

Task Force Notes and Documents

Below you will find notes from the task force meetings and other documents.

Members of the Task Force

Governor Gregoire has appointed Carol Nelson, CEO of Cascade Bank, to chair the task force.

Other members include:

Dwayne Aberle, President and CEO of Security State Bank
Michaela Albon, Senior Vice President and General Counsel for Home Loans at Washington Mutual
Fred Corbit, Attorney for Northwest Justice Project
Tom Echols, Regional Director of Government Affairs for HSBC – North America
Arturo Gonzalez, Director of Homeownership Center El Centro de la Raza
Kim Herman, Executive Director of the Washington State Housing Finance Commission
Scott Jarvis, Director of the Washington Department of Financial Institutions (DFI)
James Kelly, President of the Urban League of Metropolitan Seattle
David Main, Main Street Builders
Tricia McKay, Executive Director of the Medina Foundation
Richard Mitchell, General Counsel for the Office of the Governor
Sharon Nelson, Chair of the Board for Consumers Union
Gary Oakland, President and CEO of Boeing Employees Credit Union
Don Riley, Executive Vice President of Business Opportunities for Windermere Services Company
Aiko Schaefer, Director of the Statewide Poverty Action Network
Adam Stein, Mortgage Broker Commissioner for American Brokerage, LLC

Related Resources

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