FHA Now Fielding Buyers In Redoubled Bulk Loan Sale Program

Law360, New York (July 18, 2012, 12:40 PM EDT) -- The Federal Housing Administration said Wednesday it had started accepting applications from investors interested in scooping up severely delinquent home mortgages as part of an effort to unload several thousand problem loans that target a quartet of especially foreclosure-ravaged cities.

Under the Distressed Asset Stabilization Program — kicked off in 2010 and intensified when officials last month announced plans for the latest sale — the Obama administration aims to build public-private partnerships to help revitalize neighborhoods whose property values tanked during the foreclosure crisis.

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