O’Melveny’s Dellinger Quoted in BNA Daily Report for Executives on SIFMA Memo
The July 23, 2012, BNA Daily Report for Executives article “Financial Industry Highly Critical of Plan To Seize Mortgages by Eminent Domain,” reported extensively on the July 16, 2012, legal memorandum prepared by O’Melveny & Myers LLP for the Securities Industry and Financial Markets Association regarding a proposal that would allow municipalities to seize “underwater” mortgages using their eminent domain authority.
The article quoted O’Melveny partner Walter Dellinger, who co-authored the memo: “In our view, no matter how well intentioned this proposal may be, it is very unlikely to be a solution to the housing problem…because of the number of serious legal defects in the proposals.”
Dellinger is a member of O'Melveny's Appellate Practice and resides in the Firm's Washington, DC office.
July 24, 2012