WASHINGTON, D.C. – September 7, 2012 – (RealEstateRama) — MBA sent a letter to the Federal Housing Finance Agency’s (FHFA) General Counsel Alfred Pollard in response to the agency’s request for input concerning proposals in California and elsewhere to utilize eminent domain powers to refinance performing, underwater mortgages. In the letter, MBA’s President and CEO David H. Stevens concurs with FHFA’s own comment that, “utilizing eminent domain in this way could undermine and have a chilling effect on the extension of credit” to prospective homeowners and investors
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