WASHINGTON, Oct. 23 -- Department Of The Treasury has issued a proposed rule called: 21st Century ROAD to Housing Act Prohibition on Large Institutional Investor Purchases of Single-Family Homes.
The proposed rule was published in the Federal Register on Oct. 23 by Ethan Fallang, Deputy Assistant Secretary for Capital Markets, U.S. Department of the Treasury.
Summary: The Department of the Treasury (Treasury) is issuing this proposed rule to carry out the purposes of section 1001 of the 21st Century ROAD to Housing Act (the Act or the ROAD Act). Section 1001 of the ROAD Act prohibits large institutional investors from purchasing single-family homes, subject to certain exceptions. The proposed rule would clarify certain terms relevant to t...