In walking back policies designed to boost participation in foreclosed property sales for nonprofit and government bodies, the Federal Housing Administration (FHA) said that policies put in place in 2022 that restrict certain sales to these entities for a 30-day period have produced “mixed results at best” and will now be rescinded.

Mortgagee Letter (ML) 2022-01 expanded the exclusive listing period for U.S. Department of Housing and Urban Development (HUD) real estate-owned (REO) properties for owner-occupant buyers, HUD-approved nonprofits and government entities from 15 to 30 days. And details ⇒

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