WASHINGTON -- The Department of Housing and Urban Development has postponed indefinitely a Sept. 23 auction that was supposed to launch a series of sales of federaly insured 40-year multifamily housing loans to the private sector, a HUD official said yesterday.

The loan sales are being delayed because "we need to talk about it some more and iron out some concerns," a HUD official said. The official refused to say what problems have arisen that triggered the delay. The postponement also means a brochure detailing the auction process, which HUD expected to release by mid-September, is also on hold.

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