The AMI http://the-ami.org Association of Mortgage Investors Tue, 21 May 2013 17:19:18 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 AMI Releases Podcast Warning Against the Richmond, CA Eminent Domain Foreclosure Plan http://the-ami.org/2013/05/21/ami-releases-podcast-warning-against-the-richmond-ca-eminent-domain-foreclosure-plan/ http://the-ami.org/2013/05/21/ami-releases-podcast-warning-against-the-richmond-ca-eminent-domain-foreclosure-plan/#comments Tue, 21 May 2013 17:19:18 +0000 The Association of Mortgage Investors http://the-ami.org/?p=526 Washington, D.C.  The Association of Mortgage Investors (AMI) has released a new podcast discussing the use of eminent domain as a foreclosure mitigation tool.   AMI continues its outreach to policymakers on this important topic, whose use could damage the fragile California housing recovery.

To listen, please click after the link:  EDRICH1New

AMI is extremely sympathetic to the problems surrounding the housing sector and borrowers for the past six years, however, the case has not been satisfactorily made for the use of eminent domain, particularly given all of the programs available to trouble borrowers, some of which are too new to have fully registered their potential.  The use of eminent domain to restructure residential loans is a controversial, untried, and likely an unconstitutional use of government power.  The use of such government power is an extremely blunt instrument; the burden on its proprietary and the justification for its use must reside with its advocates.  While some would claim that it is a last resort, there are no indications that this is true or that, in the case of performing mortgages, said borrowers should be entitled to relief.  Either way, it appears that the negative consequences will always outweigh the purported benefits.  Further, housing analyst and government data suggest that after a six year housing crisis, many criteria, including home prices and relief for borrowers, are showing consistent improvement.

The AMI was organized as the primary trade association representing investors in mortgage-backed securities, including unions, university endowments and pension funds. The AMI was founded to play a primary role in the analysis, development, and implementation of mortgage and housing policy to help keep homeowners in their homes and provide a sound framework that promotes continued home purchasing.

For more information, please contact AMI at 202-327-8100.

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]]> http://the-ami.org/2013/05/21/ami-releases-podcast-warning-against-the-richmond-ca-eminent-domain-foreclosure-plan/feed/ 0 AMI Podcast Warns of North Las Vegas Eminent Domain foreclosure plan http://the-ami.org/2013/05/21/ami-podcast-warms-of-north-las-vegas-eminent-domain-plan/ http://the-ami.org/2013/05/21/ami-podcast-warms-of-north-las-vegas-eminent-domain-plan/#comments Tue, 21 May 2013 17:16:53 +0000 The Association of Mortgage Investors http://the-ami.org/?p=523 Washington, D.C.  The Association of Mortgage Investors (AMI) has released a new podcast discussing the use of eminent domain as a foreclosure mitigation tool.   AMI continues its outreach to policymakers on this important topic, whose use could damage a fragile housing recovery.

To listen, please click after the link:  EDNE1New

AMI is extremely sympathetic to the problems surrounding the housing sector and borrowers for the past six years, however, the case has not been satisfactorily made for the use of eminent domain, particularly given all of the programs available to trouble borrowers, some of which are too new to have fully registered their potential.  The use of eminent domain to restructure residential loans is a controversial, untried, and likely an unconstitutional use of government power. The use of such government power is an extremely blunt instrument; the burden on its proprietary and the justification for its use must reside with its advocates.  While some would claim that it is a last resort, there are no indications that this is true or that, in the case of performing mortgages, said borrowers should be entitled to relief.  Either way, it appears that the negative consequences will always outweigh the purported benefits. Further, housing analyst and government data suggest that after a six year housing crisis, many criteria, including home prices and relief for borrowers, are showing consistent improvement.

The AMI was organized as the primary trade association representing investors in mortgage-backed securities, including unions, university endowments and pension funds. The AMI was founded to play a primary role in the analysis, development, and implementation of mortgage and housing policy to help keep homeowners in their homes and provide a sound framework that promotes continued home purchasing.

For more information, please contact AMI at 202-327-8100.

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]]> http://the-ami.org/2013/05/21/ami-podcast-warms-of-north-las-vegas-eminent-domain-plan/feed/ 0 AMI Releases Eminent Domain Podcast re Brockton, Mass http://the-ami.org/2013/04/01/ami-releases-eminent-domain-podcast-re-brockton-mass/ http://the-ami.org/2013/04/01/ami-releases-eminent-domain-podcast-re-brockton-mass/#comments Mon, 01 Apr 2013 13:28:12 +0000 The Association of Mortgage Investors http://the-ami.org/?p=515 Media Advisory

 

Monday, April 1st, 2013

Washington, D.C.  The Association of Mortgage Investors (AMI) has released a new podcast discussing the use of eminent domain as a foreclosure mitigation tool.   AMI continues its outreach to policymakers on this important topic, whose use could damage a fragile housing recovery.

To listen, please click after the link:  Assoc_Mortage_Investors_Eminent_Domain_Brockton_2013_final

AMI is extremely sympathetic to the problems surrounding the housing sector and borrowers for the past six years, however, the case has not been satisfactorily made for the use of eminent domain, particularly given all of the programs available to trouble borrowers, some of which are too new to have fully registered their potential.  The use of eminent domain to restructure residential loans is a controversial, untried, and likely an unconstitutional use of government power.  The use of such government power is an extremely blunt instrument; the burden on its proprietary and the justification for its use must reside with its advocates.   While some would claim that it is a last resort, there are no indications that this is true or that, in the case of performing mortgages, said borrowers should be entitled to relief.   Either way, it appears that the negative consequences will always outweigh the purported benefits.  Further, housing analyst and government data suggest that after a six year housing crisis, many indicia, including home prices and relief for borrowers, are showing consistent improvement.

The AMI was organized as the primary trade association representing investors in mortgage-backed securities, including unions, university endowments and pension funds.  The AMI was founded to play a primary role in the analysis, development, and implementation of mortgage and housing policy to help keep homeowners in their homes and provide a sound framework that promotes continued home purchasing.

For more information, please contact AMI at 202-327-8100.

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]]> http://the-ami.org/2013/04/01/ami-releases-eminent-domain-podcast-re-brockton-mass/feed/ 0 The Riverside Press-Enterprise Editorial Condemns JPA Eminent Domain Plan http://the-ami.org/2012/07/22/the-riverside-press-enterprise-editorial-condemns-jpa-eminent-domain-plan/ http://the-ami.org/2012/07/22/the-riverside-press-enterprise-editorial-condemns-jpa-eminent-domain-plan/#comments Mon, 23 Jul 2012 02:15:56 +0000 The Association of Mortgage Investors http://the-ami.org/?p=511 http://www.pe.com/opinion/editorials-headlines/20120722-inland-mortgage-morass.ece

]]> http://the-ami.org/2012/07/22/the-riverside-press-enterprise-editorial-condemns-jpa-eminent-domain-plan/feed/ 0 AMI Releases Podcast Highlighting the Negative Aspects of the Eminent Domain Loan Condemnation Plan http://the-ami.org/2012/07/05/ami-releases-podcast-highlighting-the-negative-aspects-of-the-eminent-domain-condemnation/ http://the-ami.org/2012/07/05/ami-releases-podcast-highlighting-the-negative-aspects-of-the-eminent-domain-condemnation/#comments Thu, 05 Jul 2012 14:22:24 +0000 The Association of Mortgage Investors http://the-ami.org/?p=501 The Association of Mortgage Investors released the following podcast.   AMI’s Executive Director explains how the proposed local government Eminent Domain loan condemnation plan will harm everyone  in the Inland Empire, including those who have played by the rules concerning their mortgage payments and their 401K and other pension savings.

Further, the proposed plan will likely depress home values further, prevent lending, and drive away economic development from the county.

For more information or how to get involved, please email us at info@the-ami.org

 

Click the following link for the Quicktime version:  AMI_ExecDir_EmDom_JPA_July2012_long

Click the following link for the MP3 (audio only) version:  AMI_Exec_Dir_Em_Dom_podcast_July2012_long

]]> http://the-ami.org/2012/07/05/ami-releases-podcast-highlighting-the-negative-aspects-of-the-eminent-domain-condemnation/feed/ 0 AMI notes GMU Prof. Anthony Sanders on Eminent Domain Harming the Public, Investors http://the-ami.org/2012/06/26/ami-notes-gmu-prof-anthony-sanders-on-eminent-domain-harming-the-public-investors/ http://the-ami.org/2012/06/26/ami-notes-gmu-prof-anthony-sanders-on-eminent-domain-harming-the-public-investors/#comments Tue, 26 Jun 2012 13:20:01 +0000 The Association of Mortgage Investors http://the-ami.org/?p=498 AMI invites your attention to the following recent article by the eminent George Mason University Distinguished Professor of Estate Finance Professor Anthony Sanders.

In it, he calls the proposed San Bernardino eminent domain condemnation idea a “disgrace.”

http://confoundedinterest.wordpress.com/2012/06/25/yet-another-loan-mod-program-municipal-condemnation-for-mortgage-principal-writedowns/

]]> http://the-ami.org/2012/06/26/ami-notes-gmu-prof-anthony-sanders-on-eminent-domain-harming-the-public-investors/feed/ 0 The SEC (TIA) 1936 Report to the Senate Banking Committee http://the-ami.org/2012/04/27/the-sec-tia-reeport-to-the-senate-banking-committee/ http://the-ami.org/2012/04/27/the-sec-tia-reeport-to-the-senate-banking-committee/#comments Fri, 27 Apr 2012 15:37:44 +0000 The Association of Mortgage Investors http://the-ami.org/?p=493 The following report was issued by the SEC pursuant to a legislative mandate with the the 1934 SEC Act.

The issues discussed in this report are still relevant to bondholders today.

SEC_Report_Pt_VI_1936

 

 

]]> http://the-ami.org/2012/04/27/the-sec-tia-reeport-to-the-senate-banking-committee/feed/ 0 Barofsky on the Mortgage Settlement: Don’t Believe the Hype http://the-ami.org/2012/03/22/barofsky-on-the-mortgage-settlement-dont-believe-the-hype/ http://the-ami.org/2012/03/22/barofsky-on-the-mortgage-settlement-dont-believe-the-hype/#comments Thu, 22 Mar 2012 14:36:48 +0000 The Association of Mortgage Investors http://the-ami.org/?p=488 BARFOSKY ON MORTGAGE SETTLEMENT.

Former SIGTARP Neil Barofsky tells Bloomberg TV that the notion of banks getting credit for forgiving deficiency judgments would be comical if it wasn’t so tragic.   Matthew Stoller asserts that the settlement marks a change to America’s system of property rights based on political power.

For the full video, please following the link: http://www.youtube.com/watch?v=24i-luznGZs&feature=youtu.be

 

 

]]> http://the-ami.org/2012/03/22/barofsky-on-the-mortgage-settlement-dont-believe-the-hype/feed/ 0 The MBS Investor’s Case Against the Mortgage Settlement http://the-ami.org/2012/03/22/the-mbs-investors-case-against-the-mortgage-settlement/ http://the-ami.org/2012/03/22/the-mbs-investors-case-against-the-mortgage-settlement/#comments Thu, 22 Mar 2012 13:54:20 +0000 The Association of Mortgage Investors http://the-ami.org/?p=484 AMI’s concerns about the National Mortgage Settlement are discussed in the following Real Clear Markets article.

March 22, 2012

The MBS Investor’s Case Against the Mortgage Settlement

By Anthony Randazzo

Mortgage-backed securities investors are starting to boil over with righteous indignation after details on the $25 billion national mortgage settlement emerged last week.  The settlement confirmed that they might have to forfeit $17-$20 billion to pay for most of the deal. As was long suspected (and covered in this space on Feb 23, 2012 in “A Highly Unjust Mortgage Settlement”), the headline figure of banks paying $25 billion for their robo-signing of foreclosure documents is bogus, and banks may only wind up paying $5 billion in cash of the overall deal. . . .

For the entire article, please click the following link:

http://www.realclearmarkets.com/articles/2012/03/22/the_mbs_investors_case_against_the_mortgage_settlement_99576.html

]]> http://the-ami.org/2012/03/22/the-mbs-investors-case-against-the-mortgage-settlement/feed/ 0 AMI in Zerohedge: Who is Really Paying the $25 bn Mortgage Settlement? http://the-ami.org/2012/03/19/ami-in-zerohedge-who-is-really-paying-the-25-bn-mortgage-settlement/ http://the-ami.org/2012/03/19/ami-in-zerohedge-who-is-really-paying-the-25-bn-mortgage-settlement/#comments Mon, 19 Mar 2012 21:15:21 +0000 The Association of Mortgage Investors http://the-ami.org/?p=481 AMI was featured as part of the ongoing debate over the AG Foreclosure settlement in the popular financial services blog Zerohedge:

http://www.zerohedge.com/news/guest-post-who-really-paying-25-billion-tbtf-mortgage-settlement

]]> http://the-ami.org/2012/03/19/ami-in-zerohedge-who-is-really-paying-the-25-bn-mortgage-settlement/feed/ 0