| National Property Preservation Conference 2004 Keynote Address |
| Tuesday, 07 December 2004 | |
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Summary and Link to Audio Recording of Keynote Address
by Joe McCloskey Mr. McCloskey's keynote speech opening the National Property Preservation Conference 2004 focused on the need to build partnerships between different sectors in the industry, both to develop consistent expectations and practices and to increase credibility with entities outside the industry but affecting and affected by industry regulations and practices. He encouraged better communication between HUD and the servicers, the other investors, city/regional code enforcement departments, and of course field service providers, continuing their developing role in some cases as liaisons between these various entities. Mr. McCloskey discussed HUD's intention to include quality of work in HUD's consideration of reimbursement, and to develop incentives rewarding servicers' efforts towards cost-savings and overall quality work. These incentives for top-performing servicers can be expected to include greater latitude in decision-making and greater authority to exceed allowables without prior approval. He also noted HUD's wish to establish a consensus on standards of practice and accepted procedures in the industry, and he stressed that these standards and practices for the industry need to be set by the industry. He therefore encouraged servicers and field service providers to develop and propose their ideas about standards and practices to HUD. If HUD is presented with a strong set of standards, they will use those propositions to develop their guidelines for going forward. Please click here to listen
to an audio recording of Mr. McCloskey's address. A complete summary of issues reviewed at the conference will follow shortly. |
