HUD Single Family Loan Sale 2016-2 (SFLS 2016-2)
WASHINGTON, Sept. 1, 2016 /PRNewswire-USNewswire/ -- The U.S. Department of Housing and Urban Development, ("HUD"), announced the latest non-performing, residential loan sale in its Distressed Asset Stabilization Program (DASP).
On September 14th, 2016, HUD will offer 20 non-performing residential mortgage pools consisting of 10,500 notes and an aggregate unpaid principal balance of $1.7 billion, approximately.
The sale will consist of 12 Neighborhood Stabilization Outcome (NSO) Pools (approximately $800 million of UPB) and 8 diversified national pools (approximately $900 million of UPB). The Department's NSO offerings will include five Non-Profit or Units of Local Government Only Pools.
The geographic market areas and approximate unpaid principal balance of the NSO pools are:
Neighborhood Stabilization Outcome [NSO] Pools UPB Range: $15 to $145 MM |
|
NSO Regions |
|
Mid Atlantic U.S. |
$50,000,000 |
States of IL, IN, OH |
$60,00,000 |
States of NY / NJ |
2 Pools around $125,000,000 |
North Central U.S. |
$145,000,000 |
Southern U.S. |
$110,000,000 |
Western U.S. |
$45,000,000 |
NSO Non Profit Regions |
|
Baltimore Metropolitan Area |
$15,000,000 |
Chicago Metropolitan Area |
$25,000,000 |
New York City |
$65,000,000 |
New York State |
$35,000,000 |
Non-Profit Set-aside Pool* |
TBD |
*This sale will also include the first ever National Non-Profit Set-aside. This option will allow non-profits or units of local government to submit loan level bids on a minimum of 25 loans and a maximum of five percent of the pool's total number of loans, in a designated National Pool. HUD will award one sub-pool to the non-profit whose bid delivers the greatest return to HUD. This sub-pool will carry all the same requirements that exist in traditional NSO pools.
Entities interested in participating can contact the Asset Sales Office's Single Family Transaction Specialist, Verdi Consulting, at 1-844-709-0763 or [email protected] for more information.
SOURCE The U.S. Department of Housing and Urban Development
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