"We delayed the sale in response to increasing investor interest and their need for more time for due diligence review," says HUD spokesman Lemar C. Wooley. "We believe that will result in a better return to the taxpayer. Also, this will not change our closing schedule--we did not intend to close the transactions this calendar year, and we are still on target to close them mid-January, as planned."
FHA, which is part of HUD, has a wide variety of insurance programs for single family, multifamily and health care facility mortgages. Last year, it insured a record 1.3 million mortgages worth $125 billion.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
