Adds new provisions to Title II of the National Housing Act by inserting new sections (titled '259 Sale of non-performing single family mortgage loans' and '260 Claims without conveyance of title first look program') that authorize the Secretary to conduct sales of non-performing single family FHA-insured loans under specified conditions, set purchaser requirements and allowable uses, establish reporting and data collection requirements, create a first-look program for certain post-foreclosure sales, authorize use of third-party vendors, and provide enforcement and penalties.

Inserts new sections (1329 and 1330) after section 1328 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 establishing rules for bulk auctions/group sales, forbearance protections, data collection and reporting, penalties, and regulations for sale of single-family non-performing and re-performing loans.