Civil rights group seeks agency's justification in light of Richmond, Calif.,
The 13.000-member, $103 million Cooperative Center Federal Credit Union expressed support Sept. 24 for Richmond, Calif., to obtain and restructure some mortgages even if the Bay Area town has to use eminent domain.
The fight between the City of Richmond, Calif. and 624 mortgage lenders continues, as the city attempts to obtain the loans through eminent domain.
Berkeley, Calif., credit union states support of idea passed by Richmond, Calif., council members.
Eminent domain plan wins Richmond City Council approval but remains in limbo in face of state law.
FHFA seeking comment on possibility of allowing seizure, sale of residential mortgages.