HUD Register Notice
November 30th, 2010
HUD issued a new federal notice titled, Policies and Procedures Pertaining to Changes in Listing Brokers Participating in the Federal Housing Administration (FHA) Management and Marketing III Program.
SUMMARY: Today’s Federal Register notice describes how duly licensed real estate brokers may participate as Listing or Selling brokers under FHA’s Management and Marketing III (M&M III) program. All brokers may participate as Selling brokers. Brokers that wish to list HUD’s Real Estate Owned (REO) properties, however, must be selected as a Listing broker by HUD’s Asset Manager (AM) vendors. HUD will pay a commission of up to six percent to be split evenly between ‘‘Listing’’ and ‘‘Selling’’ brokers as is usual and customary in the real estate market.
DATES: Participation by all brokers in the M&M III program announced in this notice shall be in effect from the date of publication of this notice through May 31, 2015.
FOR FURTHER INFORMATION CONTACT:
Vance T. Morris, Director, Office of Single Family Asset Management,Department of Housing and Urban Development, 451 7th Street, SW., Room 9172, Washington, DC 20410; telephone number 202–708–1672 (this is not a toll-free telephone number). Persons with hearing or speech impairments may access this number via TTY by calling the toll-free Federal Information Relay Service at 800–877–8339.
To view the Notice in its entirety, please click here
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 800 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.