After months of wrangling, the US Department of Housing and Urban Development‘s (HUD) Management and Marketing (M&M) Field Service Manager (FSM) Contract has finally released. There are 11 separate contract areas and Awards will be made on a FAR Part 15.101-1, Best Value Past Performance/Price Trade off (PPT) basis. HOA fees and Utilities are still required to be picked up by the Awardee. All in all, the HUD M&M FSM is not much different in this iteration than from past ones. What we do know, though, is that the volumes have been extremely low and they are only expected to increase marginally over the next 18 months.
HUD has identified five primary objectives for its FSMs which are to insure: 1) HUD Property Inspection Report (HPIR) and ongoing inspection of properties are performed and all documents are complete, accurate and submitted in a timely manner; 2) Insure the security of the properties and debris are removed timely; 3) Perform cosmetic enhancement/repairs within established timelines; 4) Investigate and make payment of Home Owners Association and utility fees prior to scheduled closing dates; and 5) Perform on-going maintenance of real properties and track disposition activity from conveyance to sale.
This will also be the first iteration of the HUD M&M FSM that Foreclosurepedia will only Consult upon and not actually write contract proposals. If you need assistance, please select from the below options.
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