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Tag Archives: Eminent Domain

Eminent Domain Takes Root in Areas with High Unemployment, Poverty

To address widespread negative equity, at least 15 cities and counties are considering using eminent domain to seize underwater homes and lower borrowers' mortgage principal balances, according to the Urban Institute. The institute conducted a study to see what commonalities these communities share and found that all 15 suffer from high levels of poverty and unemployment, stagnant incomes, and low housing prices.

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FHFA Calls Eminent Domain ‘Threat’ to GSEs, May Consider Legal Action

As local governments consider the use of eminent domain to seize underwater mortgages, they may have to deal with the Federal Housing Finance Agency (FHFA) before moving forward with the plan. In a statement Thursday, FHFA stated it may ""initiate legal challenges"" to local or state actions that authorize the use of eminent domain to restructure mortgage contracts impacting Fannie Mae and Freddie Mac. Another action the GSEs' regulator might take is limit or stop business activity in jurisdictions that authorize the use of eminent domain to restructure mortgages.

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Wolters Kluwer Consultants Earn CRCM Designation

Minneapolis-based Wolters Kluwer Financial Services recently announced that two members of its compliance management services team have earned the prestigious Certified Regulatory Compliance Manager (CRCM) designation from the American Bankers Association’s (ABA’s) Institute of Certified Bankers (ICB).

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