WASHINGTON, Sept. 23 -- Department Of Housing And Urban Development has issued a notice called: Notice of HUD Vacant Loan Sales (HVLS 2027-1).
The notice was published in the Federal Register on Sept. 23 by Joseph M. Gormley, President of the Government National Mortgage Association performing the delegable duties of the Assistant Secretary for Housing-Federal Housing Commissioner.
Summary: This notice announces HUD's intention to offer approximately 4, 200 home equity conversion mortgages (HECM, or reverse mortgage loans) secured by vacant properties with a loan balance of approximately $1.3 billion, in a competitive sale. This initiative supports HUD's continued efforts to reduce financial risk to the Mutual Mortgage Insurance Fund and ...