The Office of the Comptroller of the Currency (OCC) has published a Community Developments Insights report that describes how banks and their partners in the community are working to dispose of foreclosed properties in creative ways that will preserve affordable housing opportunities and stabilize communities. The report reviews initiatives and strategies for building partnerships between banks and nonprofit organizations, for-profit affordable housing developers, government entities, and others. The report discusses how national banks may use a variety of funding and financing tools, such as the U.S. Department of Housing and Urban Development’s new Neighborhood Stabilization Program and the federal new markets and low-income housing tax credit programs to facilitate the sale of foreclosed properties. The publication also provides banks with guidance regarding stabilization activities that may qualify for consideration under the Community Reinvestment Act.  read more…