Eminent domain prohibition signed into law

The Fiscal Year 2015 Omnibus Appropriations Bill contained a provision that prohibits HUD, FHA, or Ginnie Mae's involvement in the eminent domain scheme developed by Mortgage Resolution Partners and considered by more than a dozen municipalities across the country. This scheme relies upon the refinancing of seized loans through the FHA’s short refinance program and resecuritization through Ginnie Mae. Section 236 of the bill would prohibit the FHA and HUD from using federal monies to facilitate the seizure of mortgage loans by a state or local municipality. 

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