HUD Announces Next HECM Note Sale

HUD Announces Next HECM Note Sale

The Department of Housing and Urban Development published a notice in the Federal Register that announced its intention to sell 1,265 HECM notes secured by vacant properties with an updated loan balance of $346 million.

The sale will consist of due and payable Secretary-held HECMs where all borrowers are deceased, and no borrower is survived by a non-borrowing spouse.

  • HUD will prioritize up to 50 percent of the offered assets for award to nonprofit organizations or governmental entity bidders with a documented housing mission.
  • This is the twelfth sale offering of its type and will be held on May 7, 2024. For more information, visit Falcon Asset Sales.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.