The Federal Housing Administration (FHA) — which holds title to 700,000 seriously delinquent mortgages — plans to ramp up its single-family nonperforming loan sale efforts, according to housing commissioner Carol Galante.

FHA currently has a pilot “601 Note Sale” program in place, and recently completed the disposition of nonperforming loans in the Chicago area. Its goal is to sell notes in large pools before they enter foreclosure.

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