The Department of Housing and Urban Development has proposed a rule that would conform its property disposition practices and regulations to industry standards and make the program more effective and efficient. The proposed changes would allow HUD to obtain the best value for its real estate-owned properties, minimize losses to the Mutual Mortgage Insurance Fund, and expand homeownership opportunities. In addition, the proposed rule would prepare the agency for future changes to the FHA single-family property disposition program for REO properties. The proposed rule would clarify HUD’s authority to receive REO properties as well as possess, hold and maintain them throughout the disposition process. A provision in the proposed rule would clarify that various evaluation tools may be used to establish the list price for REO properties but only an approved appraiser in good standing may ...