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March 18, 2014

California City Plans Rehab Program that Doesn’t Rely on Eminent Domain

By Brandon Ivey

Richmond's mayor said the new rehabilitation program can be completed in addition to eminent domain. However, significant opposition to ED from mortgage industry participants appears to have changed how the city plans to implement its latest plan.

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%