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San Francisco Joins Mortgage Seizure Scheme
Paul Stewart, SAMCAR Government Affairs Director | July 24, 2014
San Francisco's Board of Supervisors voted last week to send its eminent domain mortgage seizure resolution to committee for further consideration—a step the resolution's sponsor had sought to skip by calling for a full Board vote. If ultimately passed by the full Board, it would state the Board of Supervisors' intention to enter into a Joint Powers Authority agreement with Richmond (CA) for the purpose of using the City's power of eminent domain to seize underwater mortgages and retain a percentage of the profits when the mortgages are re-sold. To stress how current and future homeowners in the San Francisco would be harmed, the National and California Mortgage Bankers Associations and the Mortgage Action Alliance sent letters in opposition. SAMCAR continues to monitor the matter.
Other Posts
Published: July 29, 2026
Redwood City Council Unanimously Opposes Rent Control Ballot Measure
In a decisive 6-0 vote, the Redwood City Council has officially opposed the Redwood City Fair and Affordable Housing Ordinance, which will appear on the November 3, 2026 ballot. The Council's decision follows an independent supplemental economic impact analysis that concluded the measure extends far beyond traditional rent control and could have significant unintended consequences for tenants, housing providers, affordable housing, and the City's financial stability. SAMCAR applauds the six Redwood City Councilmembers for carefully reviewing the analysis and taking a position based on the long-term interests of the entire community. We encourage Realtors, property owners, homeowners, and renters to learn more about the measure before casting their vote this November.
Published: July 20, 2026
MLSListings Podcast: AB736 & November Housing Ballot Measures
MLSListings has released a new podcast discussing key housing policy topics, including AB736 Property Transfer Taxes and Redwood City's proposed rent control measure appearing on the November ballot.
Published: July 16, 2026
New Resource: Energy Efficiency Toolkit for REALTORS
Support your clients in selling healthy, energy-efficient homes with confidence. Use these resources to help clients make their homes healthier, more comfortable, and more cost-effective to run. This toolkit, created by the San Mateo County Sustainability Department in collaboration with WestLight Energy (formerly Peninsula Clean Energy) and the San Mateo County Association of REALTORS (SAMCAR), provides practical resources, local data, financial incentives, and client-facing materials to support conversations with buyers and sellers. [This effort is intended to support informed, voluntary decision-making by homeowners and does not represent an endorsement of mandates or appliance bans.]
Published: July 01, 2026
REALTORS Deliver Major Victory Stopping Costly Tax Proposal AB 736
The CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) announced a major victory for homeownership in California after REALTORS statewide mobilized to stop AB 736, a costly tax proposal, from moving forward in the California State Legislature last week. SAMCAR joined this effort in mobilizing to stop this proposal, protecting California homeownership.
Published: June 16, 2026
Redwood City Delays Action on Rent Control Ballot Measure
The Redwood City Council voted unanimously on June 8, 2026, to delay final action on a proposed rent control ballot initiative, requesting a supplemental economic impact report before deciding whether to place the measure before voters.
Published: June 05, 2026
SAMCAR Joins Congressman Mullin at "Be the Wave" Fundraiser
On Monday, June 1, 2026, members of the San Mateo County Association of REALTORS (SAMCAR) attended the Kevin Mullin for Congress Birthday Fundraiser. Billed as "Be the Wave," this fundraising event was an opportunity for SAMCAR members to meet with Congressmember Kevin Mullin and learn more about his efforts to improve our local economy, get input from organizations like SAMCAR, and federal funding for infrastructure projects in San Mateo County.
Published: May 26, 2026
Redwood City Rent Control Measure Qualifies for November Ballot
A proposed rent control initiative introduced by a local organizing group, not the city council, has officially qualified for the November 2026 ballot in Redwood City, setting the stage for a major local campaign over housing policy and affordability.
Published: May 22, 2026
REALTOR Party: SAMCAR Helps Half Moon Bay End Failed Rental Policies
The National Association of REALTORS' REALTOR Party recently highlighted the repeal of Half Moon Bay's rent stabilization and rental registry policies as a Success Story highlighting SAMCAR efforts to pursue a disciplined, relationship-based advocacy strategy grounded in data, local experience, and constructive solutions. A significant upshot of this result is that even when rent control policies are already in place, they are not irreversible. REALTOR associations can play a decisive role by staying engaged after adoption, monitoring program outcomes, electing more supportive candidates, and using credible data to demonstrate when policies fail to meet their goals.
Published: May 20, 2026
Bay Area Air District Delays Water Heater Ban Amid Rising Concerns
SAMCAR members should continue paying close attention to the Bay Area Air District's controversial mandate banning the sale and installation of natural gas water heaters beginning on January 1, 2027, followed by gas furnaces on January 1, 2029. While the regional board recently approved a nine-month delay to the water heater ban, serious concerns remain about the financial impact this policy will place on homeowners, housing providers, and renters in the Bay Area, including throughout San Mateo County.
Published: May 05, 2026
Legislative Day Connects 2,500 REALTORS with State Leaders
Legislative Day is the California Association of Realtors signature legislative event. And legislative Day 2026 did not disappoint. Over 2,500 California REALTORS descended on the state capitol during the C.A.R. Spring Business Meetings and took advantage of the opportunity to meet and discuss real estate related issues directly with their state legislators and staff. Read more about SAMCAR's participation in Legislative Day including hot topics and legislation and meetings with elected officials.
Published: May 05, 2026
Middle-Class Homeownership Act Qualifies for the Ballot
April 22, 2026 — The CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) announced that the Middle-Class Homeownership Act has officially qualified for the state's November ballot as part of the campaign to build new housing and make home loans affordable for middle-class Californians. This measure enables middle-income Californians to purchase a new home with only 3% down, while spurring a wave of new home construction – at no cost to taxpayers. Read more to learn about the key aspects of the measure.
Published: April 17, 2026
MLS Podcast: Legislative Updates with Fernando Peña
Staying informed on legislative changes is key to supporting your clients and business. In this latest podcast episode, SAMCAR Government Affairs Director Fernando Peña shares insights into current policy discussions impacting real estate across the region.
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Printed on August 3, 2026 from https://www.samcar.org/posts/san-francisco-joins-mortgage-seizure-scheme/
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Copyright © San Mateo County Association of REALTORS®. All Rights Reserved.