Eminent domain firm defends against Wall Street charges

As critics point out, the people behind Mortgage Resolution Partners bear some striking similarities to the Wall Street bankers they’re ostensibly fighting. Chairman Steven Gluckstern says that although all three of the firm’s partners have worked for financial institutions in various capacities, none of them have any connection to the mortgage-backed securities that created the financial crisis of the mid-2000s.

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Lawsuit against Richmond’s eminent domain plan dismissed

Richmond notched a victory in its effort to use eminent domain to seize underwater mortgages on Monday, as a federal court dismissed a lawsuit filed by Wells Fargo and Deutsche Bank against the city. U.S. District Judge Charles Breyer wrote that the case is not “yet ripe for adjudication.” In other words, the banks can’t…

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Motion to kill Richmond’s eminent domain plan fails

Vicky Conway says she is stuck in a loan she can’t afford. She and her husband Rodney Conway bought a home in northeast Richmond in 2004 and, like many of the city’s residents, the couple’s home is “underwater,” meaning the amount they owe exceeds the market value of the house. “I know that we’re not…

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