Here’s a few reports worth reading:

  • Lt Gov. Gavin Newsom alleges ‘threats’ against mortgage plan – the LA Times reports on California’s Lieutenant Governor (who just happens to have “some ties to Mortgage Resolution Partners” — the private investment group that promulgated the idea of using eminent domain to seize underwater mortgages), who is calling for an investigation of whether those objecting to the plan are “threatening” local governments. “Newsom’s complaint comes after several groups, including the influential Securities Industry and Financial Markets Assn., objected to the eminent domain plan and warned that mortgages could become more expensive for future homeowners living in regions that adopt the plan. The Federal Housing Finance Agency, the independent government regulator that oversees mortgage titans Fannie Mae and Freddie Mac, also expressed worry about the plan. The agency last month said it has ‘significant concerns about the use of eminent domain to revise existing financial contracts’ and that it ‘has determined that action may be necessary.'”

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