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HUD Management Marketing III Overview - ASSET Disposition - Compliance HUD M&M III Asset Disposition Process conveyance requirements; HUD-owned and HUD-Custodial Properties Maintained manner preserves communities; HUD-owned Single-Family properties are marketed and sold in a mannter that maximizes net return, minimizes holding time and expands homeownership; Differences between M&M II and M&M III for Asset Managers

HUD Management Marketing III Overview - ASSET Disposition - Compliance HUD M&M III Asset Disposition Process conveyance requirements; HUD-owned and HUD-Custodial Properties Maintained manner preserves communities; HUD-owned Single-Family properties are marketed and sold in a mannter that maximizes net return, minimizes holding time and expands homeownership; Differences between M&M II and M&M III for Asset Managers

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Published by Mary Cochrane
HUD Mortgagee Compliance Manager: pre and post conveyance activity, including appoval of claims for payment, title reviews and inspection reviews.

Separation of marketing functions (Asset Managhers) from property management functions (Field Service Managers).

Creation of an Oversight Monitor role, who is focused on overall portfolio analysis, monitoring and oversight of the dispostion processes.

12 Steps in the M&M III process as defined in P260

Term: "CONTRACTOR" will be used to represent both Contractor AND Vendor

Step 11: Pre-Conveyance property ready for CONVEYANCE and MORTGAGEE files a claim electronically.

Step 0: Pre-Acquistion MCM reviews the MORTGAGEE CLAIM for any possible errors

Step 1: Acquistion FSM is automaticcally assigned the property by P260
FSM completes required inspections and cleanout services (1a, 1b, 1c) AM is automatically assigned the property by P260.
...

Earnest Money
The selling broker shall submit earnest money along with the executed sales contract to the AM. You cannot accept sales contracts without earnest money. Send the earnest money along with the executed sales contract to the closing agent within two business days of receipt

Asset Manager Assignment
HUD will assign assets, including new acquisitions evenly among a minimum of two AMs in any given contract area and during the 12-month base performance period.
HUD Mortgagee Compliance Manager: pre and post conveyance activity, including appoval of claims for payment, title reviews and inspection reviews.

Separation of marketing functions (Asset Managhers) from property management functions (Field Service Managers).

Creation of an Oversight Monitor role, who is focused on overall portfolio analysis, monitoring and oversight of the dispostion processes.

12 Steps in the M&M III process as defined in P260

Term: "CONTRACTOR" will be used to represent both Contractor AND Vendor

Step 11: Pre-Conveyance property ready for CONVEYANCE and MORTGAGEE files a claim electronically.

Step 0: Pre-Acquistion MCM reviews the MORTGAGEE CLAIM for any possible errors

Step 1: Acquistion FSM is automaticcally assigned the property by P260
FSM completes required inspections and cleanout services (1a, 1b, 1c) AM is automatically assigned the property by P260.
...

Earnest Money
The selling broker shall submit earnest money along with the executed sales contract to the AM. You cannot accept sales contracts without earnest money. Send the earnest money along with the executed sales contract to the closing agent within two business days of receipt

Asset Manager Assignment
HUD will assign assets, including new acquisitions evenly among a minimum of two AMs in any given contract area and during the 12-month base performance period.

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Categories:Types, Research
Published by: Mary Cochrane on Feb 18, 2013
Copyright:Attribution Non-commercial

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02/18/2013

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HUD Proprietary and Confidential Page
1
 
 
HUD
Management & Marketing III
Management & Marketing III Overview
Video Participant Guide
Final
 
Management & Marketing III
The information furnished herein by HUD is proprietary and confidential to HUDpersonnel and is not to be duplicated, published or disclosed to any third party inwhole or in part without permission from HUD.© Copyright 2010, HUD, All rights reserved.

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