- Cleveland Fed releases companion piece on banks’ management of REO properties
- REO properties present challenges and risks not only to communities, but also to the banks that own them. In late June 2012, the Board of Governors released a Q&A for Federal Reserve-regulated institutions on managing REO properties. The Cleveland Fed, along with the Board of Governors, has prepared this companion primer on managing vacant residential property for stable neighborhoods. It contains information, resources, and suggestions from bankers on the risks, rights, and responsibilities involved in managing such properties — both before and after foreclosure.
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