FDIC Clarifies Supervisory Expectations for Abandoned Foreclosures

On March 2, 2016, the FDIC issued clarification of their supervisory expectations of financial institutions’ risk management policies concerning the discontinuation of foreclosure proceedings, commonly referred to as “abandoned foreclosures.” Financial Institutions must establish a policy and procedure for when such decisions to abandon a foreclosure are made which address the negative impact on the […]

Refugees and Habitat for Humanity help fill Cleveland’s abandoned homes and add stability…

The 1,600-square-foot colonial with a large front porch and a gabled roof had been left for dead in recent years, its copper veins harvested at night for scrap, another victim of the foreclosure crisis. But the Greater Cleveland Habitat for Humanity, the faith-based nonprofit that builds and rehabs houses with donations and volunteer labor, is […]