CLTA News Express
An Express Article from the California Land Title Association
CLTA Joins Group in Responding to FHFA Request for Eminent Domain Comments
Bulletin 12/13-27 - September 10, 2012
After joining a number of banking, securities, and housing groups objecting to a Joint Powers Agreement contemplating the use of eminent domain to seize troubled mortgages from investors in San Bernardino, the California Land Title Association has continued its opposition by submitting comments in a joint letter to the Federal Housing Finance Agency.
The letter raises a number of concerns about the plan to seize mortgages, including its chilling effects on credit extension for housing, the costs to taxpayers, and the plan’s constitutionality. CLTA continues to work closely with the American Land Title Association, lenders, and other groups to oppose this type of regulatory abuse.
