Neighborhood Preservation Act

[AI summary unavailable — showing source text] Neighborhood Preservation Act - Amends the Federal Deposit Insurance Act to authorize any depository institution (or affiliate) to lease, including lease with an option to purchase, to any person for up to five years an interest in residential property which: (1) was or is security for an extension of credit by such depository institution (or affiliate); and (2) came under the institution's or affiliate's ownership or control through foreclosure on the extension of credit or the bankruptcy or liquidation of the property owner to whom the credit was extended. Directs the federal banking agencies to prescribe specified safety and soundness regulations, including minimum capital requirements, for any such institution or affiliate. Permits the extension of such a lease beyond five years if any federal or state law, including the Bank Holding Company Act of 1956, so permits.…