FHA Now Requires NPN/NPL Buyers To Reduce Principal

HUD announced today (6/30/16) that is making the most significant changes to date for its Distressed Asset Stabilization Program (DASP) that include requiring purchasers of the delinquent loans to offer principal reduction to qualified borrowers. Other changes include prohibiting investors from abandoning low-value properties and offering greater opportunities for non-profits and local governments to participate in DASP. READ MORE: http://www.dsnews.com/news/06-30-2016/fha-makes-enhancements-to-distressed-loan-sales-program