Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane


new REwired blog header
Opinion, commentary and analysis on everything that makes the U.S. housing economy tick -- not to mention the ghosts in the machine, too. Written by HW's team of editors and reporters each business day.

Good idea MRP skipped the Richmond eminent domain debate

Realtor's undeniable passion for his hometown wins hearts and minds

September 10, 2013
/ Print / Reprints /
| Share More
/ Text Size+

A scheduled eminent domain debate between Realtor Jeff Wright and Stephen Gluckstern, chairman of Mortgage Resolution Partners, never happened.

And after viewing the video, where Wright gives an "informational talk" in lieu of debate after Gluckstern bows out, it's probably a good idea MRP bailed.

Wright, who grew up in Richmond, Calif., where MRP wants to use eminent domain to seize mortgages, proves to be a remarkably passionate and incredibly knowledged public speaker. He goes through many of the pros and cons and basically breaks down eminent domain.

At around 13:50, Wright lobs the first salvo: "We're here for an information forum and we want to make this fact based… we don’t want to come in here with a lot of hype and emotionalism," Wright argues. And don't miss around the 19-minute marked where he slams the press for making Richmond look "raggedy and rundown," in what Wright feels is ignorant coverage of the issue.

Your response, Mr. Gluckstern?

The event was meant to be moderated by Daniel Borenstein, editorial writer of the Contra Costa Times. The city will decide today whether or not to move forward.

On a side note to MRP, it's probably not a vote of confidence in your product if you bail on discussions a day before the city votes. On the other hand, judging by Wright's knowledge and passion, Gluckstern probably wouldn't have stood a chance.