FHA targets rental market with new NPL auction

By Ryan Bolger
21 Apr 2015

The Federal Housing Administration is planning to auction a pool of non-performing loans (NPLs) tied to vacant properties soon. Hedge funds are the likely buyers, and they could sell the paper to rental property investors.

The FHA, a division of the Department of Housing and Urban Development (HUD), has tended to sell between $5bn and $10bn of NPLs per year through the FHA’s auction process, Eric Cribbs, a senior adviser on asset sales at HUD, said at a single family rental conference in ...

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