The Washington State Senate approved a bill that would prevent property from being condemned and then being transferred to an agency of another state. Senate Bill 6125, introduced by state Sen. Don Benton, R-Vancouver, passed in the Senate 25-23 vote and will now be considered by the State House.
The bill reads in its entirety: …
During a recent radio call-in show, NJ Governor Chris Christie was asked by a listener about legislation providing the power of eminent domain to a new Rutgers-Camden and Rowan University joint board of governors. Gov. Christie said he was unaware of such a proposal. However, Gov. Christie had already signed that bill into law last …
Utah recently passed an amendment to its eminent domain laws. The Utah Senate unanimously approved HB 25 and now the bill awaits the Governor’s signature. The legislation updates language in the state code dealing with eminent domain and also established news guidelines that allow property owners greater access and engagement in the process.
The legislation …
National Mortgage News has reported that HUD Secretary Shaun Donovan stated at a Politico event that the legality of the use of eminent domain to force the sale of mortgages should be decided by the courts. The American Land Title Association’s chief executive Michelle Korsmo criticized the remarks, stating “Waiting for these eminent domain proposals…
The Appraisal Institute announced that Fannie Mae launched a website focused on its new Appraiser Quality Monitoring process, which evaluates appraisals for data accuracy and consistency. The site gives lenders access to a list of appraisers whose reports will be subject to 100 percent review or no longer accepted by Fannie. Sellers and servicers approved …
Veros Real Estate Solutions has reported that, although residential real estate values and appreciation grew during the fourth quarter of 2013, it was at a slower rate than previous quarters. This may indicate that the market is topping out, Veros has concluded. That report analyzed 345 metro areas. It indicated an average of 5.1 percent…
Mayor Nutter recently signed the Land Bank law and predicted that the City could start selling the its vacant and tax-delinquent properties by the end of the year. The bill creates a new entity to manage Philadelphia’s vacant land, acquire tax-delinquent properties and sell them. There is an estimated 9,500 city-owned vacant properties and 17,000 …
Our Eminent Domain Group has once again authored the leading Pennsylvania Eminent Domain treatise. Bisel has just published the 2014 Edition of Pennsylvania Eminent Domain which can be found at http://www.bisel.com/descriptions/bk60.htm. The treatise was originally published in 1964 and our group drafted supplements to that edition for over 15 years. Marc Needles, my partner and…
The Federal Deposit Insurance Corporation has reported that bank profits are down, in part, due to litigation costs. FDIC Chair Martin Gruenberg said that significant legal expenses are pushing down average industry profits. There are, of course, other variables causing the profit decrease. However, it is clear that litigation costs are having an impact.
Reuters had reported that the U.S. Justice Dept. will file several lawsuits alleging mortgage fraud against financial institutions in 2014. AG Eric Holder told Reuters that his agency would use the JPMorgan Chase case as its model for future lawsuits. These cases stem from a White House task force. One possible target is Bank of…
