[Federal Register Volume 85, Number 117 (Wednesday, June 17, 2020)]
[Notices]
[Page 36608]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12990]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-6199-N-02]
Notice of HUD Vacant Loan Sales (HVLS 2020-1)
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice of sales of reverse mortgage loans; change of bid date.
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SUMMARY: On February 25, 2020, HUD published a notice intending to
competitively offer multiple residential reverse mortgage pools
consisting of approximately 700 reverse mortgage notes secured by
properties with a loan balance of approximately $150 million. This
document identifies a change in the bid date.
DATES: This change in date is effective June 17, 2020.
FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Asset Sales
Office, Room 3136, Department of Housing and Urban Development, 451 7th
Street SW, Room 3136, Washington, DC 20410; telephone 202-708-2625,
extension 3927 (this is not a toll-free number). Persons with hearing
or speech impairments may access this number through TTY by calling the
toll-free Federal Relay at 800-877-8339 (this is a toll-free number).
SUPPLEMENTARY INFORMATION: On February 25, 2020, HUD announced its
intention to competitively offer multiple residential reverse mortgage
pools consisting of approximately 700 reverse mortgage notes secured by
properties with a loan balance of approximately $150 million on March
18, 2020.\1\ The sale was to consist of due and payable Secretary-held
reverse mortgage loans. The mortgage loans consist of first liens
secured by single family, vacant residential properties, where all
borrowers are deceased, and no borrower is survived by a non-borrowing
spouse. That notice also generally described the bidding process for
the sale and certain persons who are ineligible to bid.
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\1\ See 85 FR 10711 (Feb. 25, 2020).
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Due to the COVID-19 pandemic, HUD did not proceed with the offer.
This notice informs the public that HUD's offering of multiple
residential reverse mortgage pools consisting of approximately 700
reverse mortgage notes will now be held on June 24, 2020. A detailed
description of the bidding process can be found in the February 25,
2020 notice at 85 FR 10711, available at https://www.govinfo.gov/content/pkg/FR-2020-02-25/pdf/2020-03743.pdf.
Dated: June 11, 2020.
John L. Garvin,
General Deputy Assistant Secretary for Housing.
[FR Doc. 2020-12990 Filed 6-16-20; 8:45 am]
BILLING CODE 4210-67-P