May
17
Housing Agency Plans Mortgage Sale Reforms After Criticism
ByLife may soon get tougher for private buyers of distressed mortgages from the federal government.
The Department of Housing and Urban Development or HUD, said on Tuesday that it would announce, possibly as soon as this week, a new set of rules governing the sale of mortgages formerly guaranteed by the government.
The new rules would come after months of criticism from housing advocates that the loan sale program, which began in 2010, has benefited private equity firms and hedge funds at the expense of strapped borrowers…
Housing Agency Plans Mortgage Sale Reforms After Criticism
