Resources for Selling HUD Homes

What Do Abbreviations and Codes on Sales Lists Stand For?
Management and Marketing Contractors by State
Re-delegation of Authority: M&M Contractors
M&M Contract Area Map with GTR Contact

What Do Abbreviations and Codes on Sales Lists Stand For? - (Top)

Every property description on the list of homes for sale contains abbreviations or codes. Abbreviations and codes are explained below.

Financing Options

Purchasers must either obtain a loan or pay cash to purchase a HUD home. An FHA-insured mortgage may be available depending on the condition of the property.

• IE = Insurable with repair escrow. The property requires repairs estimated to cost no more than $5000. It is eligible for an FHA-insured loan if the purchaser's lender sets up a repair escrow at closing.
• IN = Insurable. The property is eligible for an FHA-insured loan in its current condition.
• UI = Uninsurable. The property requires repairs estimated to cost more than $5000. It is not eligible for an FHA-insured loan unless a Section 203(k) loan can be obtained.

Property Conditions

• F = Flood Zone. The property is located in an area where coverage under the National Flood Insurance Program may be required to obtain a loan.
• HOA = Homeowners' Association. The property is covered by a Homeowners' Association. Expect HOA fees.
• LBP = Lead Based Paint. The property was built before 1978 and may contain lead based paint. A Lead Based Paint Addendum, available on HUD's contactor's website, must accompany a contract sent on behalf of the winning bidder.

Management and Marketing Contractors by State - (Top)

Jursidiction Change: Santa Ana Homeownership Center

Management and Marketing (M&M) Contractors market and manage single family properties owned by, or in the custody of, HUD. HUD-owned houses are often referred to as "HUD Homes". Homeowners purchased these homes with FHA-insured mortgages and subsequently defaulted. The lenders then deeded the homes to the Secretary of HUD in exchange for insurance claim payments.

Mortgagee Letter (ML) 04-40, dated September 30, 2004, announced that HUD had entered into new contracts for the management and marketing of its acquired single family properties. This mortgagee letter was superseded by ML 04-45 (with updates at 05-04, 05-07, 05-12, 05-25, 05-29, 05-35, 06-02, 06-32, and 07-07).

The contractors listed below began performing the management and marketing tasks formerly performed by other management and marketing (M&M) contractors on the effective dates identified in the above mortgagee letters. Mortgagees must modify all appropriate procedures, processes, letters, and other appropriate documents, to substitute the new M&M contractor in the place of the old M&M contractor for each of the following areas:

• Occupied conveyance procedures.
• Preservation and protection issues such as requests to exceed maximum allowable limits, demolition notices issued by cities or states, etc.
• Filing of claims. In addition to mailing the claim forms, title evidence, keys, etc. to the contractors, notify the contractor via electronic mail of the property conveyance on the date the deed is filed for record.
• Extensions of time for conveying title to HUD and for submitting title evidence, fiscal data (Parts B, C, and D of the form HUD-27011) and supplemental claims on conveyances.
• Title Evidence for conveyances on or after the effective dates identified below that includes the deed and title insurance information.
• Conveyance of damaged properties.

In addition to the above areas identified, mortgagees are instructed to send all routine correspondence to the new M&M contractors identified in the mortgagee letter.

Geographic service areas covered by each of the new M&M contractors are listed below.

Arizona and Nevada

Michaelson, Connor, & Boul
6908 East Thomas Road, Suites 200 & 201
Scottsdale, AZ 85251
Phone: (480) 941-8737; Toll Free: (866) 941-8737
Fax: (480) 941-9855
Email Address: george.howell@mcbreo.com
Website: www.mcbreo.com

Preservation and Protection requests and extension of time requests for Arizona and Nevada properties should be sent to:
Michaelson, Conner, & Boul
5312 Bolsa Avenue, Suite 200
Huntington Beach, CA 92649-1020
Phone: (714) 230-3628
Fax: (714) 230-3699
Email Address: luann.kogler@mcbreo.com
Website: www.mcbreo.com

Cityside Management Corporation
301 Market Street Suite B
Hammond, LA 70401
Phone: (985) 419-0311
Fax: (985) 419-0310
Email Address: lhotard@citysidecorp.com
Website: www.citysidecorp.com

Preservation and Protection requests and extension of time requests for Arkansas and Louisiana properties should be sent to:
Cityside Management Corporation
22 Greeley Street, Suite 5
Merrimack, NH 03054
Phone: (603) 423-0313
Fax: (603) 429-1427
Email address: salicea@citysidecorp.com
Website: www.citysidecorp.com

PEMCO, Ltd.
1600 Sacramento Inn Way, Suite 210
Sacramento, CA 95815
Phone: (916) 927-7313
Fax: (916) 927-7454
Email address: kimi@pemco-norcal.com
Website: www.hudpemco.com

Preservation and Protection requests and extension of time requests for California, Hawaii and Guam properties should be sent to:
PEMCO, Ltd.
1600 Sacramento Inn Way, Suite 210
Sacramento, CA 95815
Contact person: Eric Lewis - Property Preservation Department
Phone: (916) 927-7313
Fax: (916) 927-7454
Email address: Mortgagees@pemco-norcal.com
Website: www.hudpemco.com

Atlantic Alliance of Asset Managers
Iturregui Plaza, Suite 14A
1135 65th Infantry Avenue
Rio Piedras, PR 00924
Phone: (787) 300-2194
Fax: (787) 300-2199
Email address: idelacruz@atlanticallianceassetmanagers.com
Website: www.atlanticallianceassetmanagers.com

Preservation and Protection requests and extension of time requests for Caribbean properties should be sent to:
First Preston Foreclosure Specialists
5040 Addison Circle, Suite 400
Addison, TX 75001
Phone: (972) 419-6917
Fax: (972) 392-2123
Email Address: jbatts@firstpreston.com
Website: www.atlanticallianceassetmanagers.com

Michaelson, Connor & Boul
4500 Cherry Creek Drive, South, Suite 1070
Glendale, CO 80246
Phone: (303) 758-6736; Toll Free: (866) 889-6736
Fax: (303) 758-6748
Email Address: david.huckemeyer@mcbreo.com
Website: www.mcbreo.com

Preservation and Protection requests and extension of time requests for Colorado, Montana, Utah, and Wyoming properties should be sent to:
Michaelson, Connor, & Boul
5312 Bolsa Avenue, Suite 200
Huntington Beach, CA 92649-1020
Phone: (714) 230-3628
Fax: (714) 230-3699
Email Address: luann.kogler@mcbreo.com
Website: www.mcbreo.com

National Home Management Solutions, LLC
2100 Coral Way, Suite 504
Miami, FL 33145
Phone: (305) 854-1711
Fax: (305) 854-1217
Website: www.nhmsi.com

PEMCO, LTD
Piedmont Center
3525 Piedmont Road, N.E.
Bldg. 5, Suite 310
Atlanta, Georgia 30305
Phone: (404) 995-7111
Toll Free: (800) 881-9260
Fax: (404) 995-7110
Website: www.hudpemco.com