HUD plans to sell close to 4,000 reverse mortgages
By: Maria Volkova | Published: 2025-08-06 18:55:00 | Source: www.nationalmortgagenews.com
The Department of Housing and Urban Development is auctioning off hundreds of millions of dollars in reverse mortgages on Wednesday in a bid to reduce risk to its insurance fund.
Close to 1,600 home equity conversion mortgages (HECMs) secured by vacant properties are for sale, a notice published by the department on the Federal Register says.
These loans are worth close to $444 million in a competitive sale.
The mortgage loans listed are first liens secured by single-family, vacant residential properties where all borrowers are deceased and no borrower is survived by a non-borrowing spouse, the description of the sale posted by HUD reads.
This is the first of two planned offerings, with the latter tentatively scheduled for September. At that time, HUD plans to offer multiple…
