Eminent Domain is Back, Advancing in a Handful of Local Communities, And Challenged on Capitol Hill
April 26, 2013
Many people in the mortgage lending and securitization sectors thought the controversial eminent domain plan pushed by Mortgage Resolution Partners was graveyard dead after suffering a few high-profile defeats in various locales throughout the country. They were wrong. Now, a number of interested industry parties are back on the defensive, trying to convince city officials in Richmond, CA, to abandon a new advisory arrangement with MRP and to discourage local government representatives in North Las Vegas, NV, to not reach a similar agreement with the firm. In both instances, the plan being advanced by MRP would involve...