HUD Selects New Roster Of Contractors
The Department of Housing and Urban Development has expanded the number of contractors that provide management and marketing services for HUD-owned property.
In a mortgagee letter issued on Sept. 30, HUD said it has entered into new contracts for management and marketing contractors. Those contracts cover issues such as preservation and protection of the property, conveyance of damaged property, response to demolition notices and extensions of time for conveying title to HUD.
HUD advised servicers who manage Federal Housing Administration loans to send routine correspondence to the new "M&M" contractors for their area. HUD's guidelines for property preservation and protection apply to Federal Housing Admin-istration guaranteed loans.
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