The Use of Eminent Domain to Restructure Performing Loans
Published on:
September 7, 2012
Committees:
SIFMA and 25 other associations provide comments to the Federal Housing Finance Agency (FHFA) on the use of eminent domain to restructure performing loans. The groups share the concerns expressed by the FHFA in its request for comments. The organizations are united in opposition to the current proposals to use eminent domain in this manner, and are actively working together to advocate against this clear abuse of the sovereign power of eminent domain. We emphasize that recently proposed plans regarding the use of eminent domain to seize mortgage loans are highly likely to be found unconstitutional on multiple grounds and otherwise in violation of federal and state laws.