HUD has released Mortgagee Letter 2008-05 announcing the results of HUD's Tier Ranking Scores (TRS) for Round 30 covering the performance period from October 1, 2006 through September 30, 2007. The assessment used to determine additional incentives for the 2008 calendar year is linked to these scores.

Lenders ranked in Tier 1 during this round are eligible for the following increased loss mitigation incentives during calendar year 2008:

• An additional $100 payment for each Special Forbearance Agreement executed on or after January 1, 2008;
• An automatic (i.e., HUD’s written approval is not required) extension of two additional months to continue to market their properties being sold via Pre-Foreclosure Sale; and
• An increase in the reimbursement of foreclosure costs from two thirds to 75% for Part B claims received by HUD on or after January 1, 2008, for loans endorsed on or after February 1, 1998.

HUD will continue to provide tier ranking scores quarterly, with eligibility for performance incentives determined on an annual basis using the tier ranking scores provided at the end of each fiscal year. 

As in past years, HUD is announcing the Tier 1 Lenders via a mortgagee letter and will provide additional information on its TRS via the following website:
www.hud.gov/offices/hsg/sfh/nsc/trsovrvw.cfm

Questions or comments regarding the tier ranking scoring process, should be submitted to sf.data.requests@hud.gov

To view the listing of Tier 1 lenders, please click here

To view the Mortgagee Letter in its entirety including the formula utilized for these rankings, 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 450 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.