The Department of Housing and Urban Development may issue eminent domain related rules. At a recent House Financial Services subcommittee hearing, Reps. Blaine Luetkemeyer, R-Mo., and Edward Royce, R-Calif., noted counties in their states are considering using eminent domain to acquire private-label underwater mortgages. They also noted that FHA has barred Fannie Mae and Freddie Mac from refinancing loans seized through eminent domain. However, FHA does not have a similar policy. HUD deputy assistant secretary Charles Coulter stated that "We will certainly take a look at it and consider something similar.”
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