HUD created the Distressed Asset Stabilization Program (DASP) in 2010 as a way to protect the interests of taxpayers. Were recent proposed changes to DASP in direct opposition to that objective?
Read More »FHA Makes Enhancements to Distressed Loan Sales Program
HUD's Distressed Asset Stabilization Program has been heavily criticized by housing advocacy groups and activists. What changes did the Department make to the program with the goal of achieving the best outcomes for borrowers?
Read More »Advocates Call for Changes to FHA’s Loan Sale Program
The report from the Center for American Progress makes recommendations for the FHA's distressed loan sale program to apply stronger standards in order to achieve the best outcomes for the borrowers and their communities.
Read More »HUD: Changes are Coming to Delinquent Loan Sales
HUD Secretary Julián Castro is expected to soon unveil changes to HUD's Distressed Asset Stabilization Program, which has drawn criticism over the last year for its sales of deeply delinquent mortgage loans to Wall Street investors and private firms.
Read More »Advocates Defend Castro, But. . .
One housing advocacy group has defended the HUD Secretary against recent criticisms that he is not qualified to be vice president of the United States. At the same time, however, the group said HUD could stand to make some changes.
Read More »HUD’s ‘Wall Street Giveaway’ Draws Ire of Advocates
Both HUD and FHFA have recently made changes to their distressed loan sales aimed at improving borrower outcomes. But for some housing advocates, it hasn't been enough.
Read More »From Distressed to Success? Lawmakers Demand More Info from HUD
Do investors and private equity firms that buy distressed loans really help borrowers achieve the best outcomes? Two Democratic lawmakers want to know.
Read More »HUD’s Distressed Sales Program Weathers Criticism
HUD's Distressed Asset Stabilization Program has come under fire recently, but are all the criticisms warranted?
Read More »Latest HUD Distressed Loan Sale to Include Pool Targeted to Non-Profits
HUD has announced the latest sale in the Distressed Asset Stabilization Program (DASP), Single Family Loan Sale 2016-1 (SFLS 2016-1) consisting of one offering date with National Pools and Neighborhood Stabilization Outcome (NSO) Pools offered on November 18, 2015.
Read More »Enhancements to HUD’s Distressed Asset Program Give Borrowers More Protection
Under the new rules, loan servicers are required to delay foreclosure on a home for a year and evaluate all borrowers facing foreclosure for participation in the government's Home Affordable Modification Program (HAMP) or a similar loss mitigation program. Loan servicers could previously foreclose on a home six months after they received the loan and were not required to evaluate borrowers for loss mitigation programs, though they were encouraged to do so.
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