Well, we are off to the races and it is going to be anyone’s game in Region 3S, Arizona; Region 4S Nevada and Idaho; Region 5s, California, Hawaii, Guam, and the Northern Mariana Islands; and Region 6S – Oregon, Washington, and Alaska. For those of you living under a rock, I am referring to the US Department of Housing and Urban Development’s (HUD) release of the Management and Marketing (M&M), Field Service Manager (FSM) Contract commonly referred to as the HUD M&M FSM 3.10 for the Santa Ana HOC. While not larger than usual, the legalese weighs in at a hefty 155 pages. The National Association of Mortgage Field Services (NAMFS) had best Cowboy Up on this roll out as every two bit Contract Writer will be gearing up for what is to be the most rapid deployment of a HUD Contract in history.
Foreclosurepedia anticipates that the HUD M&M FSM 3.10 for the Atlanta HOC should appear on FBO soon, as well. Neither it, nor the Santa Ana Contract are anticipated to bring NAMFS, as an Association, back from the brink of financial insolvency, though. Eric Miller, the Executive Director of NAMFS, has been unable to comment on the release on the @NAMFS Twitter feed, so go figure. There are the NAMFS Member Dues working hard for you!
Cursory observations on Page 153, Section M.2, point to no requirements for past performance. This means that while many might have thought the Wild Wild West was gone, you had better strap in for this one!
Foreclosurepedia will have more on this fast breaking story as it unfolds with live coverage on the Foreclosurepedia Podcast tonight on the Foreclosurepedia Radio Network.