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Ballard Spahr: FHFA Questions Use of Eminent Domain for Underwater Mortgages

by the Consumer Financial Services Group In response to threats from local governments in California and elsewhere to use eminent domain to acquire and restructure underwater mortgages, the Federal Housing Finance Agency (FHFA) has announced that it "has determined that action may be necessary...

Bank of America to Pay $9.3B to Settle FHFA Securities Claims

WASHINGTON, D.C. — (Mealey’s) Bank of America Corp. on Wednesday agreed to pay $9.3 billion to settle claims in four separate lawsuits that it, as well as Merrill Lynch & Co. and Countrywide Financial Corp., sold toxic, private-label, residential mortgage-backed securities (RMBS) to Fannie...