Regulation & law · 08/11/2021

HUD Announces Vacant Loan Sales for Reverse Mortgage Notes

The U.S. Department of Housing and Urban Development (HUD) is set to competitively offer multiple residential reverse mortgage pools, including six multi-loan pools and one single asset pool, consisting of approximately 1,700 reverse mortgage notes secured by vacant properties with a loan balance of approximately $420 million, with sales scheduled to take place on December 1, 2021.