WASHINGTON - Salomon Brothers Realty Corp. has purchased 8,053 FHA single-family loans, generating a record $467 million of gross proceeds for the Department of Housing and Urban Development.
The sale received strong interest from private-sector bidders, HUD Assistant Secretary William Apgar said last Friday. FHA mortgage sales have raised over $2.25 billion since 1994, according to HUD, which uses the loans to fund its housing initiatives.
"We couldn't be more pleased with this sale," Mr. Apgar said.
