FHA First Look Sales Method for NSP Grantees

Note: On October 31, 2011, The FHA First Look Program moved to the National Community Stabilization Trust's REOMatch platform to receive purchase assistance for all FHA First Look properties. 

New and existing NSP grantees should contact the National Community Stabilization Trust (fhafirstlook@stabilizationtrust.com) as soon as possible to obtain log-in information for the FHA Portal in REOMatch, and register for a special web-based training on viewing and purchasing FHA First Look Properties through the website.

FHA First Look Background

The Offices of Community Planning and Development (CPD) and the Federal Housing Administration (FHA) collaborated to create the FHA First Look sales method to help further the missions of both CPD and FHA. The First Look sales method, announced on July 15, 2010, provides NSP grantees and their program partners ("NSP grantees") with exclusive access to review and purchase newly conveyed FHA real estate-owned (REO) properties located in NSP designated areas before they are listed for sale to the general public. As part of the National First Look program, announced on September 1, 2010, FHA and other REO properties including those held by Fannie Mae and Freddie Mac are made available for sale to NSP grantees prior to being made available to the general public.

View the Federal Register Notice  |  View the Press Release

FHA First Look Sales Method–Benefits to NSP Grantees

The FHA First Look sales method offers NSP grantees a "first look" at newly conveyed FHA properties. The properties are offered for sale for a limited period of time exclusively to NSP grantees at a 10% discount off the appraised value of the property. Grantees receive automatic notification from NCST when new properties are available for purchase.

Eligible Purchasers of FHA REO Properties

NSP1, 2, or 3 grantees and program partners to include: nonprofit organizations/developers, subrecipients, subawardees, and consortium members. For-profit organizations are NOT eligible to participate in the FHA First Look sales method.

View Further Guidance