Advanced Search

Volume 2014 - Number 5

February 7, 2014

Mayor of Richmond, CA, Talking to Other Mayors About the Eminent Domain Mortgage Strategy

Although the city of Richmond, CA, is still toying with the idea of using eminent domain to seize underwater mortgages out of non-agency MBS trusts, it has yet to receive final approvals to do so. Moreover, even though speculation is mounting that its “partner” in the controversial tactic, Mortgage Resolution Partners, might be going away, the city’s mayor said she hasn’t given up. In an interview with Inside MBS & ABS this week, Mayor Gayle McLaughlin noted that “Eighteen elected officials I have talked to have shown an interest” in the concept. Those officials include representatives from San Pablo, CA, San Francisco, and smaller cities around Los Angeles. She also has spoken with officials in Irvington and Newark, NJ. Wall Street has lobbied...

Subscribers to Inside MBS & ABS have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?


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



You can purchase this article for $55.00 without subscribing and always have access to it on

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744


After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


Housing Pulse