NAR urges FHA to improve its pre-foreclosure sales process to ensure that mortgage servicers have fully complied with the agency's loss-mitigation requirements before referring loans to the Single Family Loan Sales Program (SFLS). NAR also recommends that FHA place additional controls on the SFLS program to prioritize keeping owner-occupants in these homes.
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Letter to FHA Commissioner Galante Regarding FHA?s Single Family Loan Sales Program
Issue Date: October 16, 2014
NAR urges FHA to improve its pre-foreclosure sales process to ensure that mortgage servicers have fully complied with the agency's loss-mitigation requirements before referring loans to the Single Family Loan Sales Program (SFLS). NAR also recommends that FHA place additional controls on the SFLS program to prioritize keeping owner-occupants in these homes.
Download Letter Here