The HUD Single Family Foreclosure Act was enacted September 28, 1994 and became effective December 15, 1995.

The Act provides that HUD, at its option, can foreclose non-judicially on one-to-four family mortgages held by HUD. HUD can either foreclose under the federal law or state law. If HUD forecloses under state law, state law procedures must be followed.

The Act applies to mortgages made before and after the Act.

Underwriting guidelines are contained in the referenced bulletin.