Community affairs officers at the Board and the twelve Reserve Banks work with Federal Reserve research economists to anticipate and, where possible, mitigate foreclosure problems. They share detailed reports and information that help community organizations, nonprofits, state regulators, and others identify regions and neighborhoods most vulnerable to foreclosure and respond accordingly.
For instance, NeighborWorks America recently used the Board's analyses to help identify geographic areas and neighborhoods in most critical need of $ million in emergency funds provided by the Congress to increase mortgage counselor capacity. Solid analysis of available information is critical to crafting appropriate policy remedies, and the Federal Reserve has invested considerable resources into such studies.