The HUD NPL auction features 5,000 delinquent single-family loans totaling $1 billion in unpaid principal balances with representations and warranties.
In other subprime news, industry veteran Jon Daurio was recently in New York talking to potential investors about his new nonbank venture, Nikkael Capital Corp.
Eminent domain may be a local matter, but in the context of seizing mortgages, its use would have national consequences, the four senators write in their letter to Treasury Secretary Jack Lew.