On April 5, the Federal Reserve System issued guidance to banks intended to spur the temporary conversion of Real Estate Owned (REO) to rental property. Earlier this year, the Federal Reserve strongly encouraged the sale of REO to investors for use as rental properties. With this new guidance, the  Federal Reserve is offering banks the option to keep ownership of REO properties while making the  properties available for rent. The Federal Reserve’s REO rental guidance will impact CAI’s members in
two general areas.
Under the guidance, banks with more than 50 REO rental properties must show compliance with . . .
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