Tag Archives: Fed Urges More Banks to Rent Foreclosures

To prevent overall home prices from any further potential drops, the Federal Reserve is urging banks to transform more of its foreclosed homes into rental properties. The Fed made the request to banks in new policy guidelines it released Thursday. “Banking organizations should make good-faith efforts to dispose of foreclosed properties,” the Fed said. The Fed has been urging banks to consider more foreclosure rentals for several months. In a policy paper earlier this year to Congress, the Fed argued that if banks turned more of their foreclosed properties into […]