HUD 3.5 Awards Issued

We called HUD 3.5 like we saw it and were right!  Hot off the press we are showing BLB Resources is winning areas 3S (AZ), 5S (CA, HI, & Guam), and 6S (WA, OR, & AK), and Matt Martin Real Estate Management (MMREM is winning areas 4S (NV & ID), 4D (WI, IA, NE, & SD), and 5D (MT, ND, MN, & WY).   The problem, now, is going to be the fact that and much like I predicted, there are going to be a crapload of protests.  Really, though, we predicted it all.

So, the Protests.  Here is how one Source put it, speaking on condition of anonymity:

BLB would only qualify if (1) the NAICS code ceiling increase in Jan of 2013 ($7M to $14M) was applied retrospect (seems like that would be a misuse of the laws), or (2) BLB calculated average revenue for FY’s 2008, 2009, and 2010 (a misapplication of SBA rules, because SBA looks 36 months back from the day you submit). MMREM is less protest-able, but will also be protested.

Matt Martin is looking far better as his situation will be far less problematic.  They will inevitably be protested and thus we are all really right back at square one.

On a tragic note, though we are hearing that New Vista is closing up the REO Shop perhaps based, in part, upon the Awards.  We have reached out for comment and have not received such yet.  Their Website states this, though:

The real estate market continues stabilize in many communities and that improvement is creating different opportunities to impact the real estate business and support neighborhoods today. Due to the evolution in our company’s core business strategy, New Vista is no longer taking applications from REO listing agents for our vendor network and will not be assigning new REO properties. The management team appreciates your continued interest in working with New Vista and will provide an update in the future as we create new opportunities for the diverse real estate market.



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