NLIHC comments in response to the Administration’s Request for Information (RFI) on ways that government sponsored enterprises Fannie Mae and Freddie Mac, as well as the Federal Housing Administration (FHA), can dispose of their Real Estate-Owned (REO) properties (see Memo, 8/19).
In addition to its own comments, NLIHC joined on a comment letter with the National Law Center on Homelessness and Poverty (NLCHP) and the National Housing Law Project (NHLP), and co-signed a letter circulated by the National Foreclosure Prevention and Neighborhood Stabilization Task Force.
While the RFI encouraged respondents to submit comments recommending any disposal structure, it is anticipated that the forthcoming program will turn a portion of the REO stock into rental properties. NLIHC urges the Administration in its comments to ensure that a portion of the REO-to-rental properties be made available to extremely low income households, including people experiencing homelessness and people with disabilities. NLIHC also recommends that National Housing Trust Fund dollars be paired be REO sales to assist with operating and rehabilitation expenses.
NLIHC’s comments are available at: http://nlihc.org/doc/NLIHC_REO_Comments_2011.pdf
The joint comments submitted by NLIHC, NHLP, and NLCHP are available at: http://nlihc.org/doc/Joint_REO_Comments_2011.pdf
The comments submitted by the National Foreclosure Prevention and Neighborhood Stabilization Task Force are available at: http://nlihc.org/doc/Foreclosure_Task_Force_REO_Comments_2011.pdf