Official Statement From ACORN Housing President Alton Bennett, Executive Director Mike Shea

STATEMENT FROM ALTON BENNETT,

PRESIDENT OF ACORN HOUSING, AND MIKE SHEA,

EXECUTIVE DIRECTOR, REGARDING

RECENT NEWS REPORTS

Washington, D.C. –“As President and Executive Director of ACORN Housing we were appalled and angry to see the video of two Washington, D.C. employees offering advice on how to operate an illegal enterprise to keep it hidden from the government. While no transaction took place – no loan documents were signed or submitted, no bank loans were arranged, no new business was established – this is not how we behave. All ACORN Housing staff members undergo rigorous training and are expected to comply with high standards for ethical behavior and compliance with the law.

“This video tape is slanted to misinform the public about ACORN Housing. The people who made this tape went to at least five other ACORN Housing offices where they were turned away or where ACORN Housing employees responded by calling the police. That is not mentioned on the tape – it is part of a long-term plan to smear ACORN Housing for political reasons and provide entertainment in the process. But that does not excuse the behavior of the employees. We have fired them and are initiating an internal review of practices and reminding all staff of their obligation to uphold the highest legal and ethical standards.

“After more than two decades of helping people in need comply with the law in pursuit of the American dream of home ownership, it saddens us that ACORN Housing has been put in this position by everyone involved.”

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Founded in 1986, ACORN Housing has counseled more than 350,000 low and moderate income families across the U.S., over 100,000 of which have become homeowners. ACORN Housing has 29 offices in 24 states.

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