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THE FED SETS GUIDELINES FOR REO RENTALS
“The FED Sets Guidelines for REO Rentals”
Let me know if you have the same reaction as me. Is there any part of our lives that the FED is not involved? How we should act and how we should think. Regulators creating more regulations, this time on REO properties. Just Great!
I used to think how crazy the song “The House of the Rising Sun” by The Animals, was. I now wonder what house they had in mind? Not so crazy anymore!
The sooner we can get the government out of our lives the better and the sooner we get the current administration out our lives, even better.
 
Fed Sets Guidelines for Banks and REO Rentals
 

(Federal Reserve Board ) The Federal Reserve Board on Thursday released a policy statement reiterating that statutes and Federal Reserve regulations permit rental of residential properties acquired in foreclosure as part of an orderly disposition strategy. The statement also outlines supervisory expectations for residential rental activities.
The general policy of the Federal Reserve is that banking organizations should make good faith efforts to dispose of foreclosed properties (also known as “other real estate owned” or “OREO”), including single-family homes, at the ... more

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