The Board of Governors of the Federal Reserve System ("FRB") on January 4, 2012 released a white paper entitled "The U.S. Housing Market: Current Conditions and Policy Considerations."1 The white paper addresses three forces affecting the housing market: (i) the large inventory of vacant or unsold homes; (ii) the decrease in supply of mortgage credit; and (iii) current difficulties in the foreclosure process. In the white paper, the FRB suggests that lawmakers should consider policies that would help moderate the inflow of properties into the large inventory of unsold homes, make it easier for creditworthy borrowers to access . . .
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