ROUNDTABLE SESSION 5 Eminent Domain and Vacant/Abandoned Property Legislation Update July 22, 2014 | BROADMOOR HALL D
Jim Deloach, Esq. Executive Vice President Butler & Hosch, PA SESSION SPEAKERS Kris Murtha, Esq. Shareholder/Managing Attorney KML Law Group Jon Kuretich Vice President Bank of America Russ Wirbicki, Esq. Attorney Wirbicki Law Group, LLC Stacey Baumann Vice President, Compliance & Government Relations MSI
Questions for the Panelists? 3 You can submit them by: Visiting this session’s question link: Texting and your question to: Visiting our Poll site for access to all of our Session polls/questions: Ask questions or make comments verbally by using the microphones provided in the session room
Legislative Updates A.Eminent Domain Legislation i.Understanding the concept ii.Communities with actual legislation: i.Only 2 – Richmond, CA and Irvington, NJ- neither of which have exercised or been able to exercise the power yet iii.Communities contemplating legislation i.Where they are and what they have in common iv.Overview of proposed Legislation
Legislative Updates B.Vacant & Abandoned Property Legislation i.Understanding the concept ii.States with existing V&A legislation or vacant property registration i.Examples: CO, NJ & TX iii.Overview of existing and proposed legislation iv.Using V&A for good
Legislative Updates
Property Foreclosure A.Foreclosure of properties subject to Eminent Domain or Vacant & Abandoned Laws i.Current Practice i.Internal Processes (servicer) ii.Legal Issues (attorneys) ii.Anticipated Changes i.Looking for these loans in portfolios ii.How to assess when special handling is needed or valuable
Forecasting A.Forecast for Eminent Domain and Vacant & Abandoned Laws and Actions i.Will they reduce foreclosure or REO backlogs? ii.Will they be needed once the “crisis” has passed?
Forecasting
Forecasting
Questions for the Panelists? 11 You can submit them by: Visiting this session’s question link: Texting and your question to: Visiting our Poll site for access to all of our Session polls/questions: Ask questions or make comments verbally by using the microphones provided in the session room