The American Securitization Forum (ASF) wrote a letter to the San Bernardino County Board of Supervisors that stated that the proposed plan to use eminent domain to seize residential mortgages would be “poor public policy and unconstitutional.”

The county and the cities of Ontario and Fontana have formed a Joint Powers Authority to consider a plan from private company Mortgage Resolution Partners (MRP) to use the state’s authority to seize current but underwater home loans.

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