Community Dividend

New publication describes Fed foreclosure initiatives

Published January 1, 2011  |  January 2011 issue

The Board of Governors of the Federal Reserve System (Board) has released Addressing the Impact of the Foreclosure Crisis, a booklet that highlights the community-based foreclosure prevention and neighborhood stabilization activities conducted under the Federal Reserve System's Mortgage Outreach and Research Efforts (MORE) initiative. The Board and the 12 Federal Reserve Bank presidents launched MORE in 2009 as a means of using the Fed's expertise in mortgage markets to help policymakers, community organizations, financial institutions, and the public understand and respond to the foreclosure crisis. Activities described in the booklet include sponsoring and distributing foreclosure-related research, bringing key stakeholders together to discuss the foreclosure crisis and develop solutions, and partnering with other agencies and organizations to assist unemployed homeowners who are at risk of losing their homes to foreclosure. To read the booklet, visit www.chicagofed.org/webpages/index.cfm.

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