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ROUNDTABLE SESSION 5 Eminent Domain and Vacant/Abandoned Property Legislation Update July 22, 2014 | BROADMOOR HALL D.

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Presentation on theme: "ROUNDTABLE SESSION 5 Eminent Domain and Vacant/Abandoned Property Legislation Update July 22, 2014 | BROADMOOR HALL D."— Presentation transcript:

1 ROUNDTABLE SESSION 5 Eminent Domain and Vacant/Abandoned Property Legislation Update July 22, 2014 | BROADMOOR HALL D

2 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

3 Questions for the Panelists? 3 You can submit them by: Visiting this session’s question link: https://www.polleverywhere.com/free_text_polls/LQEVK4XU7kg0PjM/web https://www.polleverywhere.com/free_text_polls/LQEVK4XU7kg0PjM/web Texting and your question to: Visiting our Poll site for access to all of our Session polls/questions: https://www.polleverywhere.com/alfn https://www.polleverywhere.com/alfn Ask questions or make comments verbally by using the microphones provided in the session room

4 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

5 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

6 Legislative Updates

7 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

8 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?

9 Forecasting

10 Forecasting

11 Questions for the Panelists? 11 You can submit them by: Visiting this session’s question link: https://www.polleverywhere.com/free_text_polls/LQEVK4XU7kg0PjM/web https://www.polleverywhere.com/free_text_polls/LQEVK4XU7kg0PjM/web Texting and your question to: Visiting our Poll site for access to all of our Session polls/questions: https://www.polleverywhere.com/alfn https://www.polleverywhere.com/alfn Ask questions or make comments verbally by using the microphones provided in the session room


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