Saturday 9 August 2014

Open Letter to Ocwen and Altisource

Dear friends,

Last week I was at a supermarket on Bangalore's busy Brigade Road when a child came up to me asking where he could find 'Mogu drinks' (a popular beverage containing nata de coco). I led him to the refrigerated food and drinks section. A few minutes later he came back to me asking me if I knew where his mom was.

In pursuit of material wealth we lose our mom, our loved ones, our home, our happiness. Not being able to find a 'Mogu drink' must have made the child a bit anxious but imagine the anxiety at not finding his mom. No 'Mogu drink' can relieve the child of that anxiety. It is time for you to find your mom, your loved ones, your home and true happiness.

I read, today, that a 6-year old from Temple, Texas, ordered for pizza under the name Thomas Jefferson, paid for it using his father's credit card and signed the receipt as 'Dad'. Prior to this he had ordered for pizza from the same outlet under the name Abraham Lincoln.

Many children use their parents' credentials, credit cards etc. perhaps sometimes without informing them. Shall we tell them that they are stealing and and that they are thieves and put them in prison? The correct way to deal with such situations is to explain to children that if they take more from mom and dad, then mom and dad will have less. Mom and dad may not have enough to pay for groceries, school fees, telephone and internet bills, medication etc. If they have less, we will have less. If they have less, they may not be able to keep their car or their home. On the other hand if they have more, they may be able to provide us a better future, better education, better lifestyle etc.

The government too helps us and protects us. If we do not pay taxes, the government will have less money to help us. If we take more from others, they will have less. If we do not contribute enough, they will have less. Many of your clients are banks, who were bailed out by the government. This helped you survive and profit. In return you spun off Altisource and headquartered Altisource in Luxembourg to avoid paying taxes. You also headquartered Altisource Asset Management Company, Altisource Residential, Newsource etc. at tax havens. So the government has less money to deal with problems like homelessness.

According to an organization, "There are 610,042 people experiencing homelessness on any given night in the United States. About 9 percent of homeless adults- 57,849 - are veterans. These numbers come from point-in-time counts, which are conducted, community by community, on a single night in January every other year."

These are people who contributed to our wellbeing. They worked for us and fought for us. They worked so we could fulfill our desires and they fought to make the world secure.

You have been instrumental in making people homeless by pursuing foreclosures and then keeping them homeless by evading taxes, thereby preventing the government from having enough money to fix the problem of homelessness.

Then, it is only fair that you stop foreclosing on loans and start providing homes to the homeless for free. You own a lot of properties through companies like Blue Valley Apartments and Altisource Residential. You can transform some of these into residential apartments and allocate them to the homeless. Thanks to modern technology mass housing projects can be completed at low cost. Materials like coated steel can also be used to construct elegant homes. According to the Tata group it is even possible to construct a house for less than $1000.

You are aware that since January, I have been trying to create awareness about your companies' practices and trying to help borrowers without charging any fees or receiving any favors in return. During the same period you have failed to admit wrongdoings and have continued foreclosing on loans and have failed to work towards providing homes to the homeless. You have, instead,been paying more money to yourselves and your lawyers. This indicates that you have not understood that if we take more from others, they will have less. If they have less, we will have less.

World leaders have shown remarkable maturity by avoiding conflict in Ukraine. If a government pays for its army to fight a war, it also leads to rise in prices of essential commodities. The people end up paying for both. That is how things impact each other.

You have been consistently chasing material wealth. Many of you have been buying homes in America but living in places like Luxembourg, while there are people who remain homeless. If we chase material desires we are separated from mom, from loved ones, from our home, from happiness. This is what I have learned from my teacher, Thich Nhat Hanh.

Please stop foreclosures immediately and provide homes to the homeless. If possible, please learn and promote the five mindfulness trainings and stop harming people, animals, natural resources and the environment.

Regards,
Saurabh Singh

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