Fri Feb 3 7:02:08 EST 2023
Home#ForeclosurepediaNationThe Winners Of The HUD M&M FSM 3.12

The Winners Of The HUD M&M FSM 3.12

24 Asset Management Lands 5 HUD M&M FSM 3.12 Contracts

UPDATED WITH JGM AWARDS:  Two years in the making, the US Department of Housing and Urban Development (HUD) Management and Marketing (M&M) Field Service Manager (FSM) 3.12 Awards are out. Now, just because the Awards are out doesn’t mean that it is clear sailing. The inevitable protests — both with HUD and elevated to GAO — will most assuredly make their rounds. The canary in the coal mine, though, is the inordinate amount of Awards issued to a single company, 24 Asset Management.  The rules used to be that each company was allowed a maximum of 2 Awards unless there was a J&A issued. Recently, this was changed, according to HUD, as follows,

The limitation on awards was changed for each HOC based on the consolidated areas.  I know there need to be at least 2 awardees in each HOC, but I don’t recall the specific logic that was used.

The Awards were swept by 24 Asset Management, no doubt. 24 Asset Management came in with 5 Awards located in 3A, 4A, 5A, 8A, 1D, 4D, and 5D. Spectrum Solutions Acquisitions LLC was next up with 2 Awards located in 2D, 4S, and 6S. And finally, JGM Property Group landed 3 Awards located in 6A and 7A and 1P, 3P, and 4P. All of the aforementioned Awards are for a period of One Year with 4 One Year Options. When it comes to what company is the best to work for, the reality is that each of them have their own unique problems. From the framework point-of-view, HUD contracting is, generally speaking, assembly line. The only outlier through which the lens of profitability may come into play will be the Line Item Pricing which each company provides separately.

We will be reaching out to each of the companies to request information going forward and will document it in future articles. Additionally, the International Association of Field Service Technicians (IAFST) is awaiting information from HUD with respect to price hikes on the Mortgagee Letter (ML).

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