WASHINGTON -- The Department of Housing and Urban Development is planning to allow state and local governments to buy some of the billions of dollars of nonperforming multifamily housing loans in its portfolio, a top HUD official said this week.

"I would hope you will be knocking on our door," Nicolas Retsinas, the commissioner of the Federal Housing Administration, told members of the Association of Local Housing Finance Agencies during their fall educational conference in New York on Tuesday.

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