WASHINGTON, D.C. – September 14, 2012 – (RealEstateRama) — David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), applauded the introduction of the Defending American Taxpayers from Abusive Government Takings Act, filed today in the U.S. House of Representatives by Congressman John Campbell (R-CA). The bill would prohibit Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) from making, insuring or guaranteeing mortgages in areas where municipalities are seizing loans using the power of eminent domain.
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