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Volume 2014 - Number 26

July 3, 2014

Eminent Domain Comes Up for Air Again on East, West Coasts as Industry Groups Go Back on Defense

The issue of eminent domain is rearing its head again, compelling mortgage and securitization industry groups to once more mobilize their resources to deep-six the latest initiatives. The most recent manifestation of a resurgent interest in eminent domain is in California, where John Avalos, a member of the San Francisco Board of Supervisors, has sponsored a resolution seeking to enter the city into a joint powers authority agreement with Richmond, CA, a vehicle by which both cities could seize underwater but performing mortgages using eminent domain. Avalos’ resolution targets...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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