The irony of attempting to silence Foreclosurepedia is the risk of drawing the ire of those whom are far more consequential than myself. Take for example the recent Obama Administration’s implied threats under Title 18 in an Edward Snowden-esque demand to take down Documents leaked by Top US Government Officials. The by product of that SNAFU became an outpouring of information from the civilian based community.
Tradecraft is a term that I am well acquainted with. When the aforementioned Article about the leaked documents hit the web, I received multiple communications. One, though, was through unconventional methods. First, the envelope had a self adhesive sticker for an address listung a drop box I keep in service. Second, the material included had no handwriting nor any discernible characteristics — e.g.; generic paper and not hammermill; soy based median laser graphite ink, etc. — and finally the sealing of the envelope responded negatively to any buccal testing. Based upon the contents of that letter and the below Organizational Chart, I have come up with the following working theory. I want to emphasize that this is a theory and should not be relied upon as anything other than conjecture; however, much of the information is verifiable through public and private sources.
There would appear to be an interesting connection between Matt Martin Real Estate Management (MMREM) and many of the Players in the Game. As best I am able to discern, Matt Martin has a daughter whom lives apart from him. William Lunger is alleged to be the grandfather to the child; however, I have not been able to pull a family tree yet.
From Corporation Wiki: Matt Martin is the Managing Member of Matt Martin Real Estate Management, LLC. Matt Martin Real Estate Management, LLC filed as a Foreign Limited Liability Company (LLC) in the State of Texas filed on Monday, June 29, 2009. This corporation is approximately four years old according to documents filed with Texas Secretary of State. Matt Martin Real Estate Management, LLC also lists Matthew Martin as President. Matt Martin’s additional active roles include: Governing Person of Sperlonga Data and Analytics, LLC (SD&A).
From what I am able to find, it would appear that Matt Martin was young and inexperienced with respect to the US Department of Housing and Urban Development (HUD) world of Federal Contracting prior to the awarding of several major Management and Marketing (M&M) Contracts. Lunger would appear to be a pivotal figure in all aspects of MMREM, SD&A as well as the real estate community as a whole.
From Corporation Wiki: William Lunger is the Governing Person of Matt Martin Real Estate Management, LLC. Matt Martin Real Estate Management, LLC filed as a Foreign Limited Liability Company (LLC) in the State of Texas filed on Monday, June 29, 2009. This corporation is approximately four years old according to documents filed with Texas Secretary of State. Matt Martin Real Estate Management, LLC also lists Matt Martin as Managing Member.
Under HUD M&M 3.0, BLB Resources and MMREM are both current asset managers in multiple states. If I was a guessing man, I would say that BLB Resources and MMREM have made around $100 Million +/- through those Contracts.
Boris Whiteside is an interesting and unique individual whom actually has two LinkedIn Profiles, the second one here. Whiteside was the Director of HUD REO out of Atlanta — yeah, we all know whom is there now — from 1988 – 2004. He is currently the Chief Operating Officer (COO) of National Home Management Solutions (NHMS).
The NHMS story is interesting. Here is their HUD set up website. Now, when you click Connect to NHMSI, which is actually NHMSI.com, you are sent to a Domain Hosting Place Keeper for Innotion Enterprises. The plot really thickens here. NHMS was hit by the HUD Office of the Inspector General (HUD OIG), based upon a Citizen’s Complaint, in 2009.
National Home did not fully comply with its HUD contract and HUD’s requirements regarding the sale of HUD homes. It did not always notify backup bidders when the winning bidders failed to provide executed sales contracts and/or accept prospective buyers’ preliminary bids to purchase HUD homes in a timely manner. National Home also did not maintain adequate documentation to support (1) its reanalysis for homes that did not sell within the first 45 days of market exposure or (2) its rationale for accepting bids that were below HUD’s minimum acceptable bid amounts and/or did not result in the highest net returns to HUD. As a result, HUD lacked assurance that National Home represented HUD’s best interest in the management and marketing of its homes and maximized the net returns to the Federal Housing Administration insurance fund.
We recommend that the Deputy Assistant Secretary for Single Family Housing require National Home to provide documentation showing that HUD approved the acceptance of the bids and the rationale for why acceptance of such bids would be in HUD’s best interest, as required under its contract, or reimburse HUD $36,455 from non-Federal funds for the losses HUD incurred on the five properties.
Now, to bring some things back into perspective, Barbara Whiteside currently works for HUD in the Atlanta Office responsible for what? Ah, yes you are catching on — HUD REO. So, this ends the Introduction. In our Ongoing Series we are going to begin to layout the entire ball of wax.
Here is what we know for a fact: The HUD 3.5 Bidding Cycle is a Train Wreck which we are all watching live. The valuation is somewhere around $100 -$120 Million. My working theory, though, is that the aggregated data is what is the most valuable component. If I were a guessing man, I would hedge bets that some Campaign to Re Elect The President (CREEP) donors are the true beneficiaries. No other reason the Obama Administration would come a gunning for a simple blog like mine.
This Article is speculation, in part. I rarely put that; however, in this case I simply do not have all of the facts to ascertain whom did what at what time — yet. Even the Chart above is somewhat off in certain areas. The reality, though, is that I am working hard on putting together a Full Piece on the HUD 3.5 and I will not be intimidated to back off the Story.
Below is the HUD OIG Report on NHMS. I have additional information from other Sources with respect to current problems with how MMREM is actually handling their HUD 9548, 9548-D, 9548-E; Lead Based Paint and Mold Disclosures; and Purchasers Rights and Responsibilities. One thing is for certain: 2014 is looking to be a damn interesting time to be reporting on the Mortgage Field Services Industry!