us_department_of_housing_and_urban_developmentHUD to Sell $1.3B of Nonperforming Residential Loans

 

This is a nationalmortgagenews.com article.

 

The Department of Housing and Urban Development plans to sell about $1.3 billion of nonperforming residential loans next month.

The sale of 24 pools of nonperforming single-family loans is scheduled for Nov. 18, according to a news release. The sale will include 19 pools of Neighborhood Stabilization Outcome loans and five pools of diversified national loans.

The sale is being conducted as part of HUD’s Distressed Asset Stabilization Program.

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