Latest Developments:

May 13, 2015: House Appropriations Committee Passes FY 2016 HUD Budget Proposal, Including Continued Prohibition on Federal Funds Being Used to Facilitate Eminent Domain Mortgage Seizures

April 29, 2015: Key House Subcommittee Passes FY 2016 HUD Budget Proposal, Including Continued Prohibition on Federal Funds Being Used to Facilitate Eminent Domain Mortgage Seizures  

April 21, 2015: MBA Sends Letter to Key House Committee Leadership Outlining Industry Priorities for the Committee's FY 2016 HUD Budget Proposal, Including Continuation of the Federal Funding Prohibition for Eminent Domain Mortgage Seizures

April 16, 2015: Members of the House of Representatives Send Letter to Key House Subcommittee Leadership Urging Continuation of Federal Funding Prohibition for Eminent Domain Mortgage Seizures 

March 27, 2015: MBA and Industry Trades Send Joint Letters to Key Senate and House Subcommittee Leaders Urging Continuation of Federal Funding Prohibition for Eminent Domain Mortgage Seizures 

February 5, 2015: San Francisco Controller's Office Releases Report Favorable to Industry's Eminent Domain Mortgage Seizure Position

January 26, 2015: President Obama Signs into Law FY2015 Omnibus Appropriations Bill Containing Federal Funding Prohibitions Pertaining to Eminent Domain Mortgage Seizures 

December 11, 2014: MBA and California MBA Send Letter to San Francisco Controller's Office Explaining Industry's Eminent Domain Mortgage Seizure Opposition

October 28, 2014: San Francisco Board of Supervisors Approves Resolution Urging Study of Homeowner Assistance Methods by City Controller, Including Eminent Domain Mortgage Seizure Proposal

October 7, 2014: Scheduled Consideration of Eminent Domain Resolution Postponed by San Francisco's Board of Supervisors

October 6, 2014: San Francisco Examiner, "Mortgage-Seizure Idea: A Solution in Search of a Problem?" (By Christopher M. George, CMBA Chairman and MBA's CA Ambassador)

October 1, 2014: Budget and Finance Committee Resends Eminent Domain Resolution to San Francisco's Board of Supervisors for Consideration, But Without Committee Recommendation

September 16, 2014: Wall Street Journal, "Why One Homeowner Refused City's Mortgage-Seizure Proposal"

July 8, 2014: San Francisco Board of Supervisors Sends Eminent Domain Resolution to Committee for Further Consideration, Preventing the Immediate Board-Level Vote Sought by its Sponsor

July 6, 2014: Contra Costa Times, "Richmond Misses its Chance to Turn the Page on Mortgage-Seizing Plan"

July 2, 2014: MBA CEO and President David H. Stevens Responds to Op-Ed in New York Daily News, "Seize the Loans of Belly-Up Homes"

June 25, 2014: Group of New York City Council Members Express Interest in Eminent Domain Mortgage Seizure Proposal

June 24, 2014: MBA and CMBA Write Letter to San Francisco's Board of Supervisors, Opposing the Avalos Eminent Domain Resolution

June 24, 2014: San Francisco Supervisor Avalos Introduces Eminent Domain Resolution before Board of Supervisors, Seeking to Enter the City into a Joint Powers Authority Agreement with Richmond, California as a First Step

May 6, 2014: U.S. House Appropriations Committee Includes Language in T-HUD FY 2015 Appropriations Bill that would Prohibit FHA, HUD or Ginnie Mae from using Funds to Make, Insure or Guarantee Mortgages Acquired through Eminent Domain

March 26, 2014: Preliminary Report Commissioned by Seattle City Council Recommends Rejection of Eminent Domain Mortgage Seizure Proposal

February 12, 2014: American Land Title Association States that Guidance Needed from HUD on the Eminent Domain Mortgage Seizure Proposal in Order to Provide Certainty for Mortgage Market

January 22, 2014: Administration Official Emphasizes in Speech that Better Alternatives Exist for Homeowners than Eminent Domain Mortgage Seizure Proposal

December 9, 2013: Seattle MBA and Washington MLA Lead Local Industry Coalition Letter to Seattle City Council Warning of Dangers from Eminent Domain Mortgage Seizure Proposal

November 27, 2013: Bipartisan Group of Senators Send Letter to HUD and Treasury Urging HUD to Prohibit  FHA from Insuring Mortgages Seized Through Eminent Domain

November 5, 2013: Mortgage Bankers Association, "Eminent Domain Battle Shifts to Another California City"

October 30, 2013: MBA and California MBA Send Joint Letter to Pomona, CA Urging them to Abandon Consideration of Eminent Domain Mortgage Seizure Proposal

October 24, 2013: Urban Institute, "Eminent Domain: The Debate Distracts from Pressing Problems"

September 30, 2013: Reuters, "Calpers Concerned about Richmond, Calif.'s Mortgage Plan"

September 20, 2013: Reuters, "Moody's Concerned by Richmond, California's Plan for Mortgages"

September 16, 2013: Wells Fargo Bank v. City of Richmond Dismissed on Procedural Grounds, But May be Re-Filed if Richmond, CA Gives Final Approval for Eminent Domain Mortgage Seizures

September 11, 2013: American Land Title Association Critical of Eminent Domain Mortgage Seizure Proposal in Statement

September 11, 2013: Seattle City Council Hears Presentation on Eminent Domain Mortgage Seizure Proposal

September 10, 2013: San Francisco Supervisor Proposes Board Resolution to Support Richmond, CA and Commission Study on Eminent Domain Plan

September 4, 2013: Nevada's North Las Vegas City Council Abandons Eminent Domain Mortgage Proposal

September 1, 2013: Inside Bay Area, "Richmond Eminent Domain Plan is Dangerous"

August 12, 2013: HUD Responds to Letter from Members of Congress Asking for Clarification on HUD's Policy Regarding Mortgage Seizures Through Eminent Domain

August 8, 2013: MBA President and CEO David H. Stevens Files Affidavit in Support of Mortgage-Bond Trustees in their Eminent Domain Lawsuit, Wells Fargo Bank v. City of Richmond

August 8, 2013: Mortgage-Bond Trustees Submit Motion for Preliminary Injunction in Lawsuit against Richmond, CA and Mortgage Resolution Partners

August 8, 2013: FHFA Issues Statement and General Counsel Memorandum Addressing Concerns with Eminent Domain Mortgage Seizure Proposal and Potential Consequences if Implemented

August 7, 2013: Mortgage-Bond Trustees File Lawsuit against Richmond, CA and Mortgage Resolution Partners to Stop the City's Plan to Utilize Eminent Domain to Seize Mortgages; Separate Lawsuit Also Filed by Different Trustee

July 24, 2013: MBA and a Coalition of State and Local MBAs Send Joint Letter to Congress Expressing Opposition for Proposal Seeking to Seize Mortgages Through Eminent Domain

July 22, 2013: MBA and a National Coalition of Trade Associations Send Joint Letter to Congress Expressing Opposition for Eminent Domain Mortgage Seizure Proposal 

June 28, 2013: Lawsuit Filed in Nevada Seeks to Enjoin Use of Eminent Domain to Acquire Mortgage Loans

June 12, 2013: MBA President and CEO David H. Stevens, "Why Eminent Domain Is Simply Wrong"

June 11, 2013: Members of Congress Request Written Confirmation of HUD's Policy on Eminent Domain Mortgage Seizure Plan's Proposed Use of FHA

June 11, 2013: The Wall Street Journal, "The Fed's Eminent Mistake"

May 30, 2013: Contra Costa Times Editorial, "Richmond's Mortgage Seizure Plan Not Ready for Prime Time"  

May 9, 2013: MBA and Coalition Partners Ask California's El Monte, Pomona, Orange Cove, La Puente, and San Joaquin to End Consideration of Eminent Domain Proposal

April 11, 2013: Brockton, Massachusetts Working Group Abandons Consideration of Eminent Domain Mortgage Seizure Proposal

April 2, 2013: Richmond, California City Council Approves "Advisory Services Agreement" for Advice on Mortgage Acquisition Process Through Eminent Domain

March 6, 2013: North Las Vegas City Council Hears Presentation on Eminent Domain Proposal

February 26, 2013: Richmond, California City Council Considers Eminent Domain Presentation and Decides to Study/Further Develop the Proposal

February 20, 2013: Brockton, Massachusetts Working Group on Eminent Domain Holds Meeting

January 24, 2013: California's San Bernardino County JPA Abandons  Eminent Domain Mortgage Proposal

January 16, 2013: Politico, "Still no partner for radical mortgage resolution"

January 7, 2013: The Finance Committee of the Brockton, Massachusetts City Council Decides to Form Working Group to Evaluate Eminent Domain Proposal

December 17, 2012: Brockton, Massachusetts' City Council Considers  Eminent Domain Plan Before its Standing Committee on Finance

December 11, 2012: Housing Subcommittee Staff Recommend Consideration of Eminent Domain Plan to Salinas, California's City Council Members

November 20, 2012: Wayne County, MI discusses potential use of eminent domain for underwater mortgages, but Michigan State law may prohibit this action

October 22, 2012: California's San Bernardino County, Ontario, and Fontana Cancel October JPA Meeting on Eminent Domain Proposal

October 8, 2012: Standard & Poor's, "Assessing the Potential Impact of Eminent Domain on Private-Label RMBS" (Subscription Needed)

October 1, 2012: Sacramento, CA Vice Mayor Ashby Reportedly Considering Eminent Domain Use for Underwater Mortgages

September 18, 2012: Councilmember Alarcon's Motion and Press Statement Requesting Consideration of Eminent Domain Proposal for the City of Los Angeles

September 13, 2012: MBA Endorses U.S. Rep. Campbell's (R-CA) "Defending American Taxpayers from Abusive Government Takings Act"

September 10, 2012: California Lt. Governor Newsom Calls for U.S. Justice Department Investigation of Eminent Domain Proposal Opposition

August 27, 2012: San Bernardino County Supervisor Rutherford Opposes Eminent Domain Plan

August 14, 2012: Chicago Mayor Emanuel Speaks Out Against Eminent Domain Use

August 14, 2012: Joint Committee of Chicago's City Council Approves Further Consideration of Eminent Domain Plan

August 9, 2012: FHFA Press Release and Federal Register Notice on Eminent Domain Plan

July 31, 2012: Berkeley City Council Recommends Eminent Domain Resolution proposed by Councilmember Worthington

July 25, 2012: Chicago City Council Aldermen Burke and Austin Call for Hearing on Eminent Domain Proposal in Resolution

July 16, 2012: Wall Street Journal, "White House Skeptical of Plan to Seize Mortgages by Eminent Domain"

July 16, 2012: New York Post, "Even White House, Geithner Reject Eminent Domain for Mortgages Nonsense"

June 19, 2012: San Bernardino County, Ontario, and Fontana Form Joint Exercise of Powers Agreement (JPA) for Eminent Domain Proposal in California

January 31, 2012: Arizona Introduces Eminent Domain Legislation for Underwater Mortgages