On behalf of the Federal Reserve Board of Governors, I'd like to welcome you to our Federal Reserve System Summit: REO and Vacant Property Strategies for Neighborhood Stabilization.
Over the past several years, the Federal Reserve System has employed the full range of its research, analytic, and outreach resources across the country to better understand the foreclosure crisis and mitigate its impact on individuals and communities. This forum will showcase findings from our research and policy efforts, including the release of the publication "REO and Vacant Property: Strategies for Neighborhood Stabilization."
We hope to use this event as a venue for discussing longer-term REO and stabilization strategies. The summit will serve as a bridge from the crisis management strategies widely discussed over the past eighteen months to more sustainable vacant property strategies that address lasting neighborhood health.
Finally, this forum represents one step in our effort to advance practitioner knowledge and capacity in acquiring and disposing of vacant property. We will use the findings from this summit to organize future activities that mobilize local resources and educate key leaders as part of the Federal Reserve System's Mortgage Outreach and Research Efforts (MORE) initiative.
We thank you for your participation, and look forward to two days of vigorous and informed conversation.
Director, Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System