AmeriCatalyst Idea Lab Named Executive Secretariat for SFRS REO-to-Rental Coalition

AUSTIN, Texas, July 11, 2012 (GLOBE NEWSWIRE) -- The AmeriCatalyst Idea Lab, an Austin-based non-profit, non-partisan organization, has been appointed executive secretariat for Single Family Rental Strategies (SFRS). SFRS is a think tank formed in late 2011 by TenantAccess and industry leaders to shape the future of the emerging "REO-to-rental/lease-to-own" sector, the fastest growing segment in the housing finance industry.

"Rehabilitating foreclosed properties and converting them into higher quality rentals is a rare opportunity to align private and public sector interests with the goal of revitalizing distressed communities, restoring house price values, and providing stability to the overall economy," noted Paul Hayman, CEO of TenantAccess and the inspiration behind the REO think tank.

"SFRS brings together the most important parties in this emerging sector in a collaborative and non-commercial environment to define and size the sector, establish best practices, create standards and contemplate proactive regulation while promoting a dignified alternative for distressed homeowners as well as a new generation of residents who seek to retain their liquidity and increase their mobility through rental housing," added Toni Moss, director of the AmeriCatalyst Idea Lab.

The AmeriCatalyst Idea Lab was established in 2012 as an extension of work begun by AmeriCatalyst LLC, with a central goal of creating and incubating viable ideas and proposals to remediate the U.S. housing crisis. The Idea Lab produces research, action papers, and business plans, as well as senior-level education including quarterly webinars, an annual conference, and a series of specialized events targeting housing, residential real estate and housing finance. Education and research is focused on global macroeconomic trends and issues, and their influence over and interaction with the microeconomics of the mortgage lifecycle, including mortgage products and origination, distribution, risk management, funding and servicing.

Industry analysts estimate that to date, upwards of $6 billion in private capital has been raised to buy government-owned single family REO properties and convert them into rentals. The FHFA is due to announce shortly the results of its first pilot program to sell REO homes owned by Fannie Mae to private investors and non-profits.

SFRS is comprised of senior policy makers, regulators, non-profits, institutional investors and industry leaders in the REO-to-rental market.

"SFRS seeks to identify scalable solutions to accelerate the housing recovery in a way that balances social and community responsibility with private capital risk and return requirements," said BridgeBilt President Mike Meyer, another founding member of SFRS.

The SFRS group will be holding its third meeting in Austin during the AmeriCatalyst 2012 conference from September 30th to October 2nd. After the event, SFRS will release a comprehensive White Paper that details the group's findings to date and recommendations moving forward.

ABOUT TENANTACCESS

The TenantAccess team has more than 30 years of industry leading REO, residential property management, and lease experience. The company provides a full range of services, with a national presence of local property managers. TenantAccess integrates the resources and capabilities of the nation's leading property preservation, REO maintenance and repair company, Field Asset Services. TenantAccess is a subsidiary of publically listed FirstService Corporation. This strong ownership enables significant operational capacity and infrastructure to support current volumes, as well as provide additional scaling capacity for our clients' incremental property realization strategies. Its division PropertyAccess is a single source national property management solution for professional investors. For more information, visit www.TenantAccess.com and www.PropertyAccess.com.

ABOUT AMERICATALYST IDEA LAB

The AmeriCatalyst Idea Lab was established in 2012 by AmeriCatalyst LLC as a non-profit, non-partisan think tank to create and incubate viable ideas and proposals to remediate the U.S. housing crisis. The think tank conducts research on the impact of globalization on critical areas of housing and housing finance to analyze the issues and choices facing policymakers, highlight opportunities and ways in which to capitalize on them, and anticipate problematic issues and ways to avoid those problems or mitigate their potential impact.  AmeriCatalyst Idea Lab is based in Austin, TX.