24 Asset Management, the former HUD M&M FSM awardee owes Labor at least $353,679.50, by Foreclosurepedia’s tally. The firm HUD called “uniquely capable” to replace that work is a Chapter 11 debtor with zero employees.
HUD never opened the docket on the Chapter 11 debtor it shortlisted for a $170.8 million federal contract, or it opened the docket and shortlisted the debtor anyway. Both answers are an indictment of the agency that just blamed non-payment for ending its own contracts.
Justification and Approval 26-30 names Alpine Companies, P.K. Management Group, and A2Z Field Services as “uniquely capable” of running Field Service Manager contracts across eight areas, estimated at $170,829,743. A2Z is Debtor-In-Possession in Case No. 26-52098, Southern District of Ohio, a Subchapter V case that began May 1, 2026. We caution the Foreclosurepedia Nation that both Alpine Companies and PK Management are insecure and may expose you to hacking.
Think about that for just a moment. Labor, whom rarely if ever interacts with humans on a HUD M&M FSM site, must pay to have a background check to even cut the grass. Apparently, anyone with a pulse clears the hurdles with HUD Secretary Scott Turner. No money? Check. Bankruptcy? Check. Potentially a target of foreign nationals wanting to hack the HUD P260? Check. That is just A2Z Field Services and we include their current bankruptcy balance sheet below. PK Management? Don’t even get me started on the fraud there. A simple search on Foreclosurepedia will tell the tale!
The bigger problem is that Alpine Companies, currently a HUD M&M FSM awardee, and PK Management both have insecure sites with PK Management not even allowing access.
What HUD Wrote About Unpaid Vendors
In the same document, HUD explains why it will not exercise the next option on the current 3.12 contracts. It cites “key vendors suspending operations because of outstanding client invoices, lack of property preservation and maintenance triggering property liens and blocking the marketing or sale of homes, and non-payments escalated to Congressional inquiries.”
HUD wrote that its own contractors’ non-payment drove vendors to stop work, put liens on homes, and put the agency’s “reputation and funding at risk.” Those are HUD’s words, in a federal procurement record.
What HUD Did Not Write
The Justification never names the contractor behind that language. It does not name 24 Asset Management, and it puts no dollar figure on what Labor is owed. Foreclosurepedia will supply both.
Foreclosurepedia has reported that HUD moved some of 24 Asset Management’s work to Alpine Companies. Foreclosurepedia’s running tally of money owed to Labor by 24 Asset Management stands at $325,679.50, plus a further $28,000 from an Indiana vendor, for at least $353,679.50. The upper end of the range is $358,679.50.
Of the $325,679.50, $154,679.50 sits on paper. That is $42,900.00 from Puerto Rico audits, $29,286.50 from an Illinois invoice sheet, $45,458.00 from a 1,023-invoice claim, and $37,035.00 from a Central Florida work order list. The other $171,000 to $176,000, and the Indiana $28,000, rest on vendors’ accounts.
That is a sum of separate claims, not an audited figure, and each claim is counted once. It is also a floor. Every number exists because a Field Service Technician or Inspector decided to say it out loud.
Add A2Z’s own sworn figure, $261,065.19 in past-due vendor payables, and the two firms stand at no less than $614,744.69 owed to Labor. One lost the work. The other made the shortlist.
What HUD Certified
The Justification says the work requires a “fully staffed and equipped office.” It says the three firms have the access to staffing and resources to perform immediately. It says HUD reviewed every respondent for conflicts of interest, financial securities, staffing, and ability to recruit. The Contracting Officer certified all of it as accurate and complete. None of them have staffed offices and even worse A2Z Field Services swears, under penalty of perjury, they do not even have employees. A simple Google search would have documented that should HUD Contracting Officer Charles Hoyle Jr or HUD General Acting Deputy Secretary Paul Olin ever found themselves around a keyboard instead of on a golf course.
Thirty Months Without An Open Bid
HUD did not open this $170,829,743.00 to the market. It sent a Sources Sought Notice to five companies it chose, cut them to three, and wrote that it would conduct a limited sources competition among the three.
Altisource Solutions and VRM Mortgage Services answered the notice in writing and were not shortlisted. A2Z Field Services answered it too, and A2Z is the debtor in bankruptcy that HUD kept.
The shortlist is not a bridge to 2027. The J&A sets a 12-month base period starting October 1, 2026, one 12-month option, and a six-month extension. HUD’s own J&A counts that as 30 months, which runs to roughly March 2029.
HUD says it “intends” to hold full and open competition in Fiscal Year 2027. The J&A promises only that HUD “anticipates” finishing planning, solicitation, and award during the performance period. HUD can decline the options, but nothing in the J&A says it will.
The J&A puts the cost of a 30-month gap in service at “approximately $126.3 billion in holding costs.” That is about 739 times the $170,829,743.00 contract value.
What The Court Record Shows
A2Z’s sworn monthly operating report for August, signed by Amie Sparks, lists zero full-time employees, both today and on the day the case began. HUD’s Justification calls that company fully staffed.
The same report shows cash falling from $19,390.56 to $2,025.81 in thirty-one days. That is a drop of $17,364.75, or 89.55 percent. The Chase statement confirms the closing balance to the cent. HUD certified that a company with about two thousand dollars in the bank can begin immediately.
Then look at where the money went. On the last day of August, four transactions took $22,293.26 out of the account, which is 90.45 percent of everything A2Z spent all month. Two wires totaling $10,000 went to law firms. An ACH of $8,448.26 went to a technology vendor. An ACH of $3,845.00 went to OnDeck, a lender A2Z lists among its creditors.
A2Z took in $7,283.30 for the entire month and wired $10,000 to lawyers in one afternoon. The bank statement shows no payment to any vendor on the debtor’s own aging schedule.
The Vendors Are On The Page
That aging schedule runs four pages. It lists $261,065.19 in past-due payables, which the debtor’s report labels postpetition. Not one dollar is under 31 days old. $71,337.34 sits in the 31-to-60 column. $189,727.85, or 72.67 percent, is at 61 days and over.
Those are vendors, and many of them are the Field Service Technicians and Inspectors who did the work. A2Z owes them 128.87 times what it has in the bank. The largest single balance is $21,912.75. They worked for a company already in bankruptcy court and they are still waiting.
Lawyers, Meanwhile
The report shows $75,570.00 paid to the debtor’s lead bankruptcy counsel since the case began, and $8,000.00 more to a second firm. That is $83,570.00 in professional fees, 41.25 times the cash left in the account.
The Balance Sheet HUD Did Not Read
The accrual balance sheet carries $794,532.91 in assets. Of that, $662,578.73 is a line labeled “Interco Receivable – Black Dome,” a claim against the company that acquired A2Z in late 2025. That is 83.39 percent of stated assets. Strip it out and $131,954.18 remains.
The same balance sheet lists $1,392,825.51 in total liabilities, including five short-term lenders and a $575,945.55 shareholder line of credit. Equity is negative $598,292.60. The report’s summary page lists total liabilities at zero. A federal contractor whose own schedules disagree is what HUD called uniquely capable.
The receivables tell the same story. $109,528.48 of the $123,234.60 owed to A2Z, or 88.88 percent, comes from two Progress Residential accounts. No HUD receivable appears.
The Docket Shows A Fight Over Whether The Case Survives
Black Dome Services, the company that bought A2Z, is a creditor in the case. It filed an amended motion to dismiss the Chapter 11 for lack of authorization and lack of standing. The court set a trial on that motion for December 11, 2026, with discovery closing December 4. The docket does not say why Black Dome wants the case gone, and Foreclosurepedia will not guess.
The court also extended A2Z’s use of cash collateral under a final order, which means someone holds a lien on the cash. The Justification mentions none of this. HUD certified that it reviewed financial securities.
HUD’s Own Paper Trail
The amendment that partially cancels the solicitation dates the solicitation to September. The signatures on the Justification that authorizes it run from late September to mid-October. At more than $90 million, the deal needed the Senior Procurement Executive, and that signature came in mid-October.
By then A2Z’s July and August operating reports had been on the public docket for weeks, and the bankruptcy itself for more than five months. HUD’s top procurement official approved the shortlist with all of it in plain view.
HUD Cannot Get The Name Right
The Justification lists A2Z’s contact as “Arnie Sparks-Beebe, CEO & President.” The sworn filing is signed by Amie Sparks. If HUD cannot confirm the name of the executive it plans to negotiate with, it did not confirm the finances behind her signature.
Karnes Knew In 2023. Ford And Washington Got The Same Record.
Foreclosurepedia put the 24 Asset Management non-payment record in writing before three HUD officials: Craig Karnes, former Assistant Chief Procurement Officer, LaShura Ford, Assistant Chief Procurement Officer for Field Operations, and HUD’s Sharon Washington.
Karnes did not merely receive the notice. In 2023 he answered it, in writing, and acknowledged that HUD “is aware of the relationship between 24 Asset Management and Assero.” He added that any continuing award would require 24 Asset Management to “mitigate any identified Conflicts of Interest.”
That is HUD admitting, three years ago, that it knew who stood behind the contractor leaving Field Service Technicians and Inspectors unpaid. The awards continued anyway. Foreclosurepedia then sent the stopped $21,000 check, the National Field Network warning, and the unserviced Illinois assets to the same procurement office.
Ford and Washington received the same record. None of the three has answered Labor, and Foreclosurepedia has seen no referral to HUD’s Inspector General. HUD then wrote unpaid vendors into a J&A as its emergency and shortlisted a debtor in bankruptcy.
The Solicitation Is Already Coming Apart
HUD has already cancelled part of its own competition. Amendment 0001 partially cancels the solicitation for areas 1D, 2D, 4D/5D, and 5P. Those four areas carry $96,622,154 of the $170,829,743 estimate, or 56.56 percent. The amendment gives no reason.
The remaining four areas carry $74,207,589. HUD should say whether the bankruptcy docket had anything to do with the cancellation, and which areas A2Z was ever meant to receive.
The Emergency Is Fiction
HUD invoked unusual and compelling urgency to skip full and open competition. It has known when these contracts expire since the day it signed them. It has known about the vendor non-payment it now cites for the entire period it says it needed to act.
HUD also admits it will hold a full and open competition in Fiscal Year 2027. The agency can compete this work. To avoid doing so, it claims a lapse would cost approximately $126.3 billion in holding costs, against a contract value of $170.8 million. That is 739 times the contract. No method accompanies the number.
What This Means for Labor
The Justification states that the follow-on contracts involve “no changes to the core services performed under the current contracts.” That means no escrow, no direct-pay safeguard, and no payment protection for Field Service Technicians and Inspectors. HUD is renewing the structure that left Labor holding unpaid invoices.
If A2Z owes you money, know the deadlines. The general deadline to file claims in Case No. 26-52098 was July 17, 2026. The government deadline is October 28, 2026. If you have not filed, call the office of the Subchapter V trustee, Donald W. Mallory, and ask whether A2Z listed your debt.
If 24 Asset Management owes you, file with HUD’s Office of Inspector General. File liens. Hire a lawyer. Report it to your Congressional Representative and Senator. Finally, contact the local media and feel free to cite this article! This is federally funded work, and a documented pattern is harder to dismiss than one vendor’s invoice.
The Bottom Line
HUD wrote that unpaid vendors, liens on homes, and Congressional inquiries are why the old contracts are ending. The old contractor owes Labor at least $353,679.50. HUD then shortlisted a debtor with $2,025.81 in the bank, zero employees, and $261,065.19 in past-due vendor bills. The reason is on the page. The remedy is not. Neither is the due diligence.
The Docs No One Wants You To See
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