However, HUD and the Veteran s Administration both rely on real estate agents to sell foreclosed property. The federal government has been pushing the development of Web sites and more efficient use of the Internet over the past few years. HUD said the portal will differ from other governmental Web sites because it will display content according to home-shoppers needs and whether they are preparing for homeownership, shopping for a home, seeking to obtain a mortgage or closing a home purchase or already own a home. HUD claims the portal will save the federal government money. The Federal government receives a further direct financial benefit when such loans are pooled and sold by as financial securities, he added.
Decisions regarding implementation dates and milestones have yet to be made.
The first step will be to form the interagency task force. Send a note to the Inman News editor .