Wells Fargo Bank v City of Richmond, CA and Mortgage Resolution Partners
Published on:
September 3, 2013
SIFMA submitted an Amicus “Friend of the Court”
Brief
Court:
U.S. District Court
(N.D.CA)
Amicus Issues:
Whether the City of Richmond, California and Mortgage
Resolution Partners scheme to use the government’s power of eminent domain to
seize loans from residential mortgage-backed securitization (RMBS) trusts
serves a valid public purpose, and whether it will cause substantial harm to
financial and housing markets.
Counsel of Record:
Sidley Austin LLP
David R. Carpenter
Collin P. Wedel
Carter G. Phillips
Jonathan
F. Cohn
Other Amici:
U.S. Chamber of Commerce