San Bernardino County is forging ahead with deliberations on a proposal to seize underwater mortgages, despite its largest city's decision Tuesday night to seek bankruptcy.

The California city is not directly involved in the proposal, but industry members say its bankruptcy could interrupt funding and create other hurdles for the county and its partners.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.