HUD National First Look Program

The U.S. Department of Housing and Urban Development (HUD) and the National Community Stabilization Trust have come together to launch the HUD National First Look Program.

In the first ever public-private partnership of its kind, HUD and the Stabilization Trust, working with nearly all of the nation’s top financial institutions, are joining together to make the ‘First Look’ REO property acquisition model available to all Neighborhood Stabilization Program (NSP) grantees. Similar to the existing ‘First Look’ option available to local governments and other community based housing providers working through the Stabilization Trust, the National ‘First Look’ Program allows NSP grantees an exclusive window of access to indicate interest in and make offers on newly available REO properties of participating financial institutions.

The Stabilization Trust will serve as the operations engine behind the National First Look Program. Financial Institutions participating with HUD the Stabilization Trust include Bank of America, Chase, Citi, Deutsche Bank, GMAC, Nationstar Mortgage, Ocwen Financial Corporation, Saxon Mortgage Services, U.S. Bank, Wells Fargo, Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA).

HUD National First Look Press Release

Remarks of Secretary Shaun Donovan at the National ‘First Look’ Program Announcement

NSP grantees that wish to participate in the National First Look Program should contact us.