Information System & Network Corporation (ISN), a National Association of Mortgage Field Services (NAMFS) member, was awarded the US Department of Housing and Urban Development‘s (HUD) Mortgagee Compliance Manager (MCM) Contract DU204SB-14-R-0002 valued at $42,048,600. ISN is probably most well known for its US Marshals Contract pertaining to the custody and maintenance of assets seized by the US Marshals.
One of the questions which many within the Mortgage Field Services Industry are asking is whether or not this Award would adversely impact any Contracts awarded by HUD with specificity to the Field Service Management (FSM) Contracts in light of HUDs Freedom of Information Act (FOIA) request answers Foreclosurepedia recently obtained. Specifically, HUD discussed C.5.1.12.5 Prohibition on Pre-Conveyance Preservation and Protection Work and more specifically Federal Acquisition Regulation (FAR) 9.5 where Craig Karnes, HUD M&M Director responded as follows,
There is no statutory prohibition on contractors performing both pre and post conveyance P&P services. However, HUD considers performance of the pre-conveyance P&P work for FHA properties to be an organizational conflict of interest under FAR 9.5, Organizational and Consultant Conflicts of Interest, and has enacted the provision at C.5.1.12.5 to avoid potential conflicts after award for the following reasons.
Longman & Van Grak LLC summed up the history and current litigation filed in December, 2014, in a recent blog posting,
In 2013, the independent fiduciary administering the plan claimed that ISN did not have the authority to file a VCP application without its consent, a claim that ISN disputes. ISN’s lawsuit asks the court to set aside the IRS refusal to consider ISN’s VCP submission and order the agency to take corrective actions under the program.
To coin a jurisprudence term, Foreclosurepedia Congratulates in part and Wishes The Best in part.
