If a property is likely to sit vacant for long periods of time and create problems for the surrounding area, servicers might consider sale of REO properties to, or partnerships with, responsible third parties, including local governments and nonprofit groups. Financial institutions should look for ways to partner with community groups and governments to support strategies to stabilize communities affected by foreclosure.
The monetary policy framework is profoundly democratic The first point to note in answering that question is that the answer depends on what Parliament wants monetary policy to deliver. It is sometimes suggested that the Reserve Bank seems to be a law unto itself, and that Don Brash seems to run the country. Nothing could be further from the truth.