Office of Asset Sales
The Federal Housing Administration (FHA) Office of Asset Sales was established in 2001 to coordinate sales of single family, healthcare and multifamily mortgage notes. Over the past 20 years, FHA has assembled a seasoned team of professionals and industry experts who execute sales in support of HUD’s mission while reducing losses for FHA’s insurance funds.
Upcoming Sales and Key Highlights
The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD-held Vacant Loan Sales (“HVLS”) 2025-3:
• On September 24, 2025, HUD will offer multiple residential mortgage loans consisting of approximately 1,945 mortgage loans with a loan balance of approximately $550 million.
• Bidder qualifications will begin on August 15, 2025, and the Data Room will open on or about August 20th, 2025. Bidders will receive their approval notification via email once they have been approved.
• Bidders who are already qualified for HVLS 2025-2 are automatically qualified for HVLS 2025-3 and do not need to execute a new Confidentiality Agreement (CA) or Qualification Statement (QS).
These sales will include HUD-held, due and payable first-lien mortgage loans. The loans are secured by Home Equity Conversion Mortgages (HECMs) on vacant 1- to 4-unit residential properties. All borrowers and any non-borrowing spouses for these loans are deceased.
A regulatory waiver has been issued for the HVLS 2025-3 sale. For additional information, please see https://www.hud.gov/hudclips/waivers.
Entities interested in participating can contact the Office of Asset Sales’ Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD-held Vacant Loan Sales (“HVLS”) 2025-2 and 2025-3:
HVLS 2025-2
• The bid date for the HVLS 2025-2 transaction has been postponed until August 6, 2025. Bids will be due on August 6th between 10 a.m. and 1 p.m. Eastern Time.
• On July 30, 2025, HUD will offer multiple residential mortgage loans consisting of approximately 1,600 mortgage loans with a loan balance of approximately $444 million.
• Bidder qualifications will begin on June 30, 2025, and the Data Room will open on June 30, 2025. Bidders will receive their approval notification via email once they have been approved.
HVLS 2025-3
• Tentatively scheduled for September 2025, HUD will offer multiple residential mortgage loans consisting of approximately 2,000 mortgage loans with a loan balance of approximately $548 million.
• The Data Room is tentatively scheduled to open in August 2025. Bidders will receive their approval notification via email once they have been approved.
These sales will include HUD-held, due and payable first-lien mortgage loans. The loans are secured by Home Equity Conversion Mortgages (HECMs) on vacant 1- to 4-unit residential properties. All borrowers and any non-borrowing spouses for these properties are deceased.
A regulatory waiver has been issued for the upcoming HVLS 2025-2 and HVLS 2025-3 sales. For additional information, please see https://www.hud.gov/hudclips/waivers.
Entities interested in participating can contact the Office of Asset Sales’ Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
March, 2025 Post-Sale Results Report
HNVLS Post - Sale Results Report Available (HNVLS Creport_March)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant and Non Vacant Loan Sales (HNVLS).
The HUD Library Appendices for the March 2025 Post-Sale Results Report (HNVLS Creport Library file)
October 25, 2024
HUD-held Non Vacant Loan Sale – (HNVLS 2025-1)
Hello Prospective Loan Sale Purchasers,
Announcing the HUD-held Non Vacant Loan Sale (“HNVLS 2025-1”):
On December 11, 2024, HUD will offer multiple residential mortgage loans consisting of approximately 1,180 mortgage loans with a loan balance of approximately $500 million.
Bidder qualifications will begin on October 31, 2024. Bidders will receive their approval notification via email once they have been approved.
The sale will consist of due and payable HUD-held loans. The loans are first liens secured by Home Equity Conversion Mortgages (HECMs) securing 1-to-4-unit, residential properties where all borrowers and any non-borrowing spouses are deceased. Properties included in this sale are occupied by non-borrowers.
Eligible Bidder types for the HNVLS 2025-1 loan sale auction are nonprofits, nonprofit joint ventures, nonprofit instrumentalities of government, governmental entities or instrumentalities of government, governmental entity joint ventures, or for-profits.
Entities interested in participating can contact the Office of Asset Sales’ Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
October 10, 2024
2024 Nonprofit Loan Sale Seminar: Creating Successful Partnerships March 28, 2024.
September, 2024 Post-Sale Results Report
HVLS Post - Sale Results Report Available (HVLS Creport_September)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the September 2024 Post-Sale Results Report (HVLS Creport Library file)
August 14, 2024
HUD-Held Vacant Loan Sale – (HVLS 2025-1)
Announcing the HUD-Held Vacant Loan Sale 2025-1 (“HVLS 2025-1”) On October 16, 2024, HUD will offer multiple residential mortgage loans consisting of approximately 2,700 mortgage loans with an updated loan balance of approximately $746 million.
Bidder qualifications will begin on August 22, 2024. Bidders will receive their approval notification when the data room opens on or about September 11, 2024.
The sale will consist of due and payable HUD-Held loans. The loans are first liens secured by home equity conversion mortgages (HECM’s) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
Eligible Bidder types for the HVLS 2025-1 loan sale auction are nonprofits, nonprofit joint ventures, nonprofit instrumentalities of government, governmental entities or instrumentalities of government, governmental entity joint ventures, or for-profits.
Entities interested in participating can contact the Office of Asset Sales’ Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
July 10, 2024 – Healthcare Loan Sale (HLS 2024-1)
Hello Prospective Loan Sale Purchasers,
The U.S. Department of Housing and Urban Development (“HUD”) has announced Healthcare Loan Sale 2024-1 (“HLS 2024-1”).
On August 21, 2024, HUD will offer 16 due and payable Secretary-Held commercial mortgage loans, consisting of fifteen Section 232 healthcare loans and one Section 242 healthcare loan with a combined total unpaid principal loan balance of approximately $164 million. The mortgage loans are secured by fifteen first liens and one second lien. HUD reserves the right to add or remove loans from HLS 2024-1.
Further details regarding the healthcare loans offered in the HLS 2024-1 sealed bid auction can be found at www.falconassetsales.com.
From time to time, the U.S. Department of Housing and Urban Development (“HUD”) conducts loan sales of defaulted healthcare mortgage notes previously insured by FHA through various sale structures. The Healthcare Loan Sale program is intended to support maintaining access to healthcare in communities, reduce FHA’s claim costs, minimize the holding costs of defaulted healthcare notes, and maximize recoveries to the FHA insurance fund.
To qualify as a bidder for this sale, navigate to the Mission Capital Website. Select the HUD HLS 2024-1 Loan Sale, click and fill out each qualification document to be considered as a bidder for this sale. Entities interested in participating in the August 21, 2024, HLS 2024-1 sealed bid auction can contact the Office of Asset Sales’ Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
April 18, 2024
March 2024 Post-Sale Results Report
HVLS Post - Sale Results Report Available (HVLS Creport_March)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the March 2024 Post-Sale Results Report (HVLS Creport Library file)
April 1, 2024
HUD-Held Vacant Loan Sale – HVLS 2024-2
Hello Prospective Loan Sale Purchasers,
The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD-Held Vacant Loan Sale 2024-2 (“HVLS 2024-2”).
On May 7, 2024, HUD will offer multiple residential mortgage loans consisting of approximately 1,265 notes and updated loan balance of approximately $346 million. The sale will consist of due and payable HUD-Held loans. The loans are first liens secured by home equity conversion mortgages (HECM’s) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
Eligible Bidder types for the HVLS 2024-2 loan sale auction are non-profits, non-profit joint ventures, non-profit instrumentalities of government, governmental entities or instrumentalities of government, governmental entity joint ventures, or for-profits.
Further details regarding the HUD-Held Vacant loans for offer in HVLS 2024-2 can be found at www.falconassetsales.com.
To qualify as a bidder for this sale, navigate to the Mission Capital Website. Select the HUD HVLS 2024-2 Loan Sale, click and fill out each qualification document to be considered as a bidder for this sale.
Entities interested in participating can contact the Office of Asset Sales’ Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
October 27, 2023
The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD-Held Vacant Loan Sale 2024-1 (“HVLS 2024-1”).
- On December 5, 2023, HUD will offer multiple residential mortgage loans consisting of approximately 1,558 loans and updated loan balance of approximately $394 million. The sale will consist of due and payable HUD-Held loans. The loans are first liens secured by home equity conversion mortgages (HECM’s) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
- Up to fifty percent of the mortgage loans being offered in HVLS 2024-1 may be awarded on a priority basis to nonprofit organizations and governmental entities with a documented housing mission.
- HVLS 2024-1 will include a single asset pool consisting of a HECM loan secured by a New York single family property (“Mark House”) in Albany County that was listed on the National Register of Historic Places on August 29, 2022. This single asset pool loan sale will have a separate CAA with representations and a breach provision specifying that the Purchaser may not present a derivative breach associated with the listing on the National Register of Historic Places.
Further details regarding the HUD-Held Vacant loans for offer in HVLS 2024-1 can be found at www.falconassetsales.com.
The U.S. Department of Housing and Urban Development’s Office of Asset Sales HUD-Held Vacant Loan Sales seek to increase affordable housing supply, expand opportunities for homeownership and rental housing, and revitalize communities through encouraging the disposition of these loans in a manner that achieves mission outcomes, including:
- Selling properties to low- to moderate-income homebuyers at a price affordable to households earning less than 120 percent of the Area Median Family Income; and
- Leasing properties at rents affordable to households earning less than or equal to 80 percent of the Area Median Family Income.
Entities interested in participating can contact the Office of Asset Sales’ Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
October 27, 2023
September 2023 Post-Sale Results Report
HVLS Post - Sale Results Report Available (HVLS Creport September)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the September 2023 Post-Sale Results Report (HVLS Creport Library file)
October 27, 2023
Post-Sale Outcome Report Training - August 11, 2023
July 13, 2023
Multifamily and Healthcare Loan Sale – MHLS 2023-2
On August 30, 2023, HUD will conduct the sale of 10 multifamily and healthcare defaulted mortgage notes – nine notes secured by nine healthcare assets and one note secured by one multifamily asset. For more information on the August 30, 2023 MHLS 2023-2 sale please contact Falcon Capital Advisors at 1-844-709-0763, by email at HUDsales@falconassetsales.com or visit their sales website at: https://www.falconassetsales.com/. Qualification information can be found at https://market.missioncap.com/
May 19, 2023
Expanding Opportunities for Affordable Housing Through HUD Loan and Property Sales (Power Point slide deck)
May 2, 2023
March 2023 Post-Sale Results Report
HVLS Post-Sale Results Report Available (HVLS Creport_March)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the March 2023 Post-Sale Results Report (HVLS Creport Library file)
April 14, 2023
Announcing the HUD-Held Vacant Loan Sale (“HVLS 2023-1”)
The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD-Held Vacant Loan Sale 2023-1 (“HVLS 2023-1”)
On May 23, 2023, HUD will offer multiple residential mortgage loans consisting of approximately 1,237 notes and loan balance of approximately $319 million. The sale will consist of due and payable HUD-Held loans. The loans are first liens secured by home equity conversion mortgages (HECM’s) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
Up to fifty percent of the mortgage loans being offered in HVLS 2023-1 may be awarded on a priority basis to nonprofit organizations and governmental entities with a documented housing mission.
The U.S. Department of Housing and Urban Development’s Office of Asset Sales HUD-Held Vacant Loan Sales seek to increase affordable housing supply, expand opportunities for homeownership and rental housing, and revitalize communities through encouraging the disposition of these notes in a manner that achieves mission outcomes, including:
- Selling properties to low- to moderate-income homebuyers at a price affordable to households earning less than 120 percent of the Area Median Family Income; and
- Leasing properties at rents affordable to households earning less than or equal to 80 percent of the Area Median Family Income.
Entities interested in participating can contact the Office of Asset Sales’ Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
September 2022 Post-Sale Results Report
HVLS Post-Sale Results Report Available
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the September 2022 Post-Sale Results Report
October 5, 2022
Announcing the HUD-Held Multifamily Healthcare Loan Sale 2023-1
The U.S. Department of Housing and Urban Development (“HUD”) has announced Multifamily Healthcare Loan Sale 2023-1 (“MHLS 2023-1”).
On November 16, 2022, HUD will offer sixteen due and payable Secretary-Held commercial loans consisting of one Section 221(d)(4) MKT multifamily loan and fifteen Section 232 healthcare loans with a total unpaid principal loan balance of approximately $100.9 million. Loans are secured by 15 first liens and 1 second lien. HUD reserves the right to add or remove loans from MHLS 2023-1.
The Transaction Specialist for the sale is Falcon Capital Advisors: www.falconassetsales.com/. Interested parties may contact: Transaction Specialist at 1-844-709-0763 or email HUDSales@FalconAssetSales.com
Additional information about the sale can be found at www.falconassetsales.com/asset-sales/upcoming-sales
June 2022 Post-Sale Results Summary (Report)
HUD-Held Vacant Loan Sale 2022-2 Part 2 (“HVLS 2022-2 Part 2”)
On July 27, 2022, HUD will offer approximately 703 notes with an updated loan balance of $141 million. These loans were part of the 1,406 notes offered for sale on June 8, 2022.
The sale will consist of due and payable HUD-held loans. The loans are first liens secured by Home Equity Conversion Mortgages (HECMs) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
Entities interested in participating can contact the Office of Asset Sales’ Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
March 2022 Post-Sale Results Report
HVLS Post-Sale Results Report Available (Report)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the March 2022 Post-Sale Results Report (Report).
Announcing the HUD-Held Vacant Loan Sale 2022-2 (“HVLS 2022-2”)
Source: U.S. Department of Housing and Urban Development
Washington D.C. - The U.S. Department of Housing and Urban Development (“HUD”) has announced HUD-Held Vacant Loan Sale (“HVLS 2022-2”):
- On June 8, 2022, HUD will offer multiple residential mortgage pools consisting of approximately 1,450 notes and loan balance of approximately $336 million.
- The sale will consist of due and payable HUD-Held loans. The loans are first liens secured by home equity conversion mortgages (HECM’s) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
- Eligible Bidder types for the HVLS 2022-2 loan sale auction are non-profits, non-profit joint ventures, non-profit instrumentalities of government, governmental entities or instrumentalities of government, or governmental entity joint ventures.
Entities interested in participating can contact the Office of Asset Sales’ Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@falconassetsales.com for more information.
September 2021 Post-Sale Results Report
HVLS Post-Sale Results Report Available (Report)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the March 2021 Post-Sale Results Report (Report)
DASP Results Reporting Update
The March 2021 report was the final report on the Distressed Asset Stabilization Program (DASP) loan sales as the reporting period for all purchasers has ended.
December 9, 2021
HUD-Held Vacant Sale 2022-1 Results
Thank you to all the teams that participated in the HUD-Held Vacant Loan Sale, HVLS 2022-1 on December 1st! A new strategy was implemented in which HUD offered up to 50 percent of the notes in the multi-loan pools for bids by eligible non-profit organizations and units of state and local government. Previous sales prioritized approximately 10 percent of the mortgage notes for this purpose. HUD set a goal to expand opportunities for participation for non-profit organizations and units of local government.
In keeping with that goal, half of the notes offered in the sale were awarded to mission-driven non-profit organizations.
To view specific Sales results please follow this hyperlink. (HVLS-2022-1 Sales Results Summary)
September 21, 2021
Multifamily and Healthcare Loan Sale – MHLS 2022-1
On October 20, 2021 HUD will conduct the sale of 11 multifamily and healthcare mortgage notes – six notes secured by six healthcare assets and five notes secured by three multifamily assets. For more information on the October 20, 2021 sale please contact J.S. Watkins Realty Partners, LLC at (301) 215-7953 or twatkins@jswpartners.com. To register @Virtual conference, along with Qualification information can be found at here
September 16, 2021
Announcing the HUD-Held Vacant Loan Sale 2022-1 (“HVLS 2022-1”)
The U.S. Department of Housing and Urban Development (“HUD”) has announced the latest HUD-Held Vacant Loan Sale (“HVLS 2022-1”).
On November 10, 2021, HUD will offer multiple residential mortgage pools consisting of approximately 1,700 notes and a loan balance of approximately $417 million.
The sale will consist of due and payable Secretary-Held loans. The loans are first liens secured by 1 to 4-unit, vacant residential properties where the last surviving borrower is deceased. This sale will include increased bidding opportunities for non-profit and state & local government purchasers.
Entities interested in participating can register @Virtual conference and contact the Office of Asset Sales Single Family Transaction Specialist at 1-844-709-0763 or email HUDSales@FalconAssetSales.com for more information.
September 9, 2021
Nonprofit Conference September 29, 2021
The U.S. Department of Housing and Urban Development (HUD) will be hosting a conference for nonprofit organizations and units of local government to help further educate organizations about FHA Loan Sale opportunities and enhancements for upcoming sales that provide expanded opportunities for participation. To register for this Virtual Conference or for additional information, contact Asset Sales Transaction Specialist, dwentworth@falconcapitaladvisors.com.
May 28, 2021
Post-Sale Reports
HVLS Post-Sale Results Report Available (March 2021 HVLS CReport_March 2021v5)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the March 2021 Post-Sale Results Report can be found (HVLS CReport Library_March 2021v5)
DASP Results Report Available (DASP CReport_March 2021v3)
The Department has released its latest post-sale results report here. The March 2021 report includes details on the Distressed Asset Stabilization Program (DASP) loan sales.
The HUD Library Appendices for the March 2021 Post-Sale Results Report can be found (DASP CReport Library_March 2021v2)
May 7, 2021
Single Family Direct Sale (New York)
December 14, 2020
Post-Sale Reports
HVLS Post-Sale Results Report Available (September 2020)
The Department has released its latest post-sale results report. This report captures data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the September 2020 Post-Sale Results Report can be found (here)
DASP Results Report Available (September 2020)
The Department has released its latest post-sale results report here. The September 2020 report includes details on the Distressed Asset Stabilization Program (DASP) loan sales.
July 31, 2020
Multifamily Healthcare Loan Sale (“MHLS 2020-1”).
The U.S. Department of Housing and Urban Development is pleased to announce the next Multifamily Healthcare Loan Sale (“MHLS 2020-1”). On August 26th , HUD will offer nine (9) due and payable Secretary-Held commercial loans consisting of one multifamily loan and eight (8) healthcare loans with a total unpaid principal loan balance of approximately $65 million. Loans are secured by first lien properties. For more information, contact the Multifamily Transaction Specialist, JS Watkins, LLC at 617-531-3454 or email at mhls2020-1@debtx.com.
June 24, 2020
HUD-Held Vacant Loan Sale 2020-1 (“HVLS 2020-1”) UPDATE
Thank you to all the teams that participated in the HUD-Held Vacant Loan Sale, HVLS 2020-1. Sales results can be found here.
For more information, please contact the Asset Sales Office’s Single Family Transaction Specialist, Verdi Consulting, at 1-844-709-0763 or send your questions or comments to HUDsales@VerdiAssetSales.com.
HVLS Post-Sale Results Report Available (February 2020)
The Department has released its latest post-sale results report here. This is the first post-sale report to capture data on the loans sold in the HUD-Held Vacant Loan Sales (HVLS).
The HUD Library Appendices for the February 2020 Post-Sale Results Report can be found here.
HUD-Held Vacant Loan Sale 2020-1 (“HVLS 2020-1”) has been re-scheduled for June 24th.
The postponed March 18 HUD-Held Vacant Sale (HVLS 2020-1) has been re-scheduled for June 24th. The sale will consist of due and payable Secretary-Held loans. The loans are first liens secured by 1 to 4 unit, vacant residential properties where the last surviving borrower is deceased.
Entities interested in participating can contact the Asset Sales Office’s Single Family Transaction Specialist at 1-844-709-0763 or email HUDsales@VerdiAssetSales.com for more information.
HUD-Held Vacant Loan Sale 2020-1 (“HVLS 2020-1”) POSTPONED
The HUD-Held Vacant Sale (HVLS 2020-1) has been postponed. This sale will be re-scheduled at a future date. We apologize for any inconvenience and we appreciate your participation in our sales.
HUD-Held Vacant Loan Sale 2020-1 (“HVLS 2020-1”)
Source: U.S. Department of Housing and Urban Development
Washington D.C. - The U.S. Department of Housing and Urban Development (“HUD”) has announced the latest HUD-Held Vacant Loan Sale (“HVLS 2020-1”).
On March 18th, 2020, HUD will offer multiple residential mortgage pools consisting of approximately 700 notes and loan balance of approximately $153 million.
The sale will consist of due and payable Secretary-Held loans. The loans are first liens secured by 1 to 4 unit, vacant residential properties where the last surviving borrower is deceased.
Entities interested in participating can contact the Asset Sales Office’s Single Family Transaction Specialist at 1-844-709-0763 or email HUDsales@VerdiAssetSales.com for more information.
HUD-Held Vacant Loan Sale 2019-2 (“HVLS 2019-2”).
The U.S. Department of Housing and Urban Development is pleased to announce the next HUD-Held Vacant Loan Sale (HVLS 2019-2). On July 24, 2019, HUD will offer multiple residential mortgage pools consisting of due and payable Secretary-Held loans with a total loan balance of approximately $330 million. This sale will include several opportunities for non-profit involvement, including a pool of loans in Puerto Rico set-aside for non-profits and units of local government. Loans are secured by first lien, vacant residential properties where the last surviving borrower is deceased. For more information, contact the Office of Asset Sales Single Family Transaction Specialist at 1-844-709-0763 or email HUDsales@VerdiAssetSales.com.
Post-Sale Results Report Available (February 2020)
The Department has released its latest post-sale results report here. The February 2020 report includes details on the Distressed Asset Stabilization Program (DASP) loan sales.
Single Family Loan Sales
The Office of Asset Sales conducts loan sales of single family defaulted mortgages previously insured by FHA through various sale structures to meet individual program goals. Single Family Loan Sales include various sale types, including joint-venture and whole loan sales for both forward and Home Equity Conversion Mortgages (HECM).
HUD-Held Vacant Loan Sales (HVLS)
HVLS are competitive auctions currently structured to promote sales first to mission-driven non-profit organizations and units of local government while increasing recoveries to FHA’s insurance funds over alternative dispositions of home equity conversion mortgages (HECMs). HVLS transactions are comprised of a portfolio of defaulted, formerly FHA-insured, single-family reverse mortgage loans owned by HUD where:
The last surviving borrower is deceased;
No borrower is survived by a non-borrowing spouse;
The property securing the mortgage loan is vacant; and
The heirs of the estate have not paid off the debt.
The HVLS loans were assigned to HUD from prior servicers when the loan balance reached 98% of Maximum Claim Amount (MCA). MCA is equal to the lesser of the loan’s appraised value or the maximum FHA lending limit at origination. Selling these defaulted mortgages through a competitive auction generates savings for FHA by avoiding holding, foreclosure, and sales expenses that would be incurred with a disposition through the REO conveyance program. Results from these sales can be found below.
Single Family Loan Sales (SFLS)
SFLS were established to provide an alternative disposition option to the conveyance process for defaulted FHA notes that does not require foreclosure on the borrower and the sale of the acquired property. Sales of these defaulted notes were structured to help facilitate sustainable homeownership while reducing losses for FHA’s insurance funds.
Results from these sales can be found below.
SFLS 2012–3 Results Report (National Pools)
SFLS 2012–3 Results Report (NSO Pools)
SFLS 2013–1 Results Report (NSO Pools)
SFLS 2013–2 Results Report (National Pools)
SFLS 2013–2 Results Report (NSO Pools)
SFLS 2014–1, Part 1 Results Report (NSO Pools)
SFLS 2014–1, Part 2 Results Report (National Pools)
SFLS 2014–2, Part 1 Results Report (National Pools)
SFLS 2014–2, Part 1 Results Report (NSO Pools)
SFLS 2014–2, Part 2 Results Report (National Pools)
SFLS 2014–2, Part 2 Results Report (NSO Pools)
Single Family Joint Venture Sales (SFJV)
SFJV sales were conducted from 2002-2005, under a pilot program named the Accelerated Claims Disposition (ACD) Demonstration. The ACD sales provided homeowners who had defaulted mortgages in the sale with a greater range of options to remain in their homes. The sales were structured to accelerate the claims process to acquire defaulted mortgages, thereby reducing conveyance claims and its portfolio of foreclosed homes. Results from these sales can be found below.
Post Sales Report
The Office of Asset Sales tracks the outcomes of single family loans sold through its sales.
HVLS Post-Sale Results Report
The Office of Asset Sales tracks the outcomes of HECM Vacant Loan Sale (HVLS) loans sold. These reports, found below, capture data reported by the purchasers on the loans sold in the HVLS.
- Post Sale September 2021 Report
- Post Sale March 2022 Report
- Post Sale September 2022 Report
- Post Sale March Report 2023 Report
- Post Sale September Report 2023 Report
- Post Sale March Report 2024 Report
Post-Sale Results Report
The Office of Asset Sales tracks the SFLS outcomes of Distressed Asset Stabilization Program (DASP) loans sold and reports the information to the FHA Commissioner. These reports, found below, capture data reported by the purchasers on the loans sold in DASP sales.