January 16, 2012
This week the National Association of REALTORS® (NAR) met with senior staff for the US Department of Housing and Urban Development’s (HUD) Real Estate Owned (REO) Department. The issues discussed included the proposed Request for Information offered by the Federal Housing Finance Agency (FHFA), which includes FHA REO properties, and how NAR and the REO staff can work together going forward. NAR understands that any proposal announcement related to the RFI will be small in scale and will be offered as pilots. While NAR continues to have concerns about these pilots, staff at HUD are taking these concerns under consideration as decisions are made. NAR will continue to monitor and provide feedback on HUD’s REO disposition efforts and will maintain regular communication with HUD REO staff.