In September 2012, the Federal Housing Administration enhanced its single-family note program.

The U.S. Department of Housing and Urban Development announced 40,000 such loans would be sold in 2013.

The latest offering is planned for June 2013 with an anticipated sale of 15,000 to 20,000 loans, as HousingWire reported.

In its latest report, the HUD Office of the Inspector General is declaring the program a success.

“By strategically selling notes to new servicers rather than carrying out foreclosure, FHA can reduce costs while helping to stabilize communities,” the report states.