The Department of Housing and Urban Development generally tries to hold a FHA note sale every quarter. But the third-quarter sale was moved to October. FHA officials were aiming for a mid-October sale.
But the date has been moved back to Oct. 30 due to the government shutdown. The Oct. 30 date could “slip, too,” the HUD spokesman cautioned.
HUD is authorized to continue its note sales despite the government shutdown.
SEBA Professional Services LLP will be managing the note sale and DebtX will market the sale.
The FHA held its last “national sale” on June 26 when it accepted bids on 15,470 nonperforming loans with an unpaid principal balance of $2.4 billion. The winning bids totaled $1.26 billion or 53.4% of the UPB of the loans, which are no longer insured by FHA. There were 13 pools and eight winning bidders.