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Private-equity firms,Â hedge fundsÂ and other Wall Street investors are seeking to develop a Real Estate Owned (REO)— to- Rent Securitization Market with the backingÂ of the FED and FHFA.
The Federal Reserve Board issued a policy statement a year ago on rental property owned by the banks they supervise and allowed the banks to rent properties without requiring them to demonstrate a sustained effort to market the properties for sale.
Fair housing advocates are concerned that this allows Wall Street to “once again prey upon urban and inner-ring suburban communities across the country.”
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