Eminent domain mortgage plan is misuse of power, experts say

08/5/2013 | San Diego Union-Tribune

The plan put forth by Mortgage Resolution Partners to use eminent domain as a tool in refinancing some mortgages is an inappropriate use of government power, say many people, including Rep. John Campbell, R-Calif. "One group of investors, MRP, has figured out a way to use the legal powers of municipalities to extract profits from the people who hold mortgage-backed securities," said SIFMA's Chris Killian. Learn more at SIFMA's Eminent Domain Resource Center. Read SIFMA's statement supporting legislation introduced by Rep. Campbell.

View Full Article in:

San Diego Union-Tribune

Published in Brief: