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HUD Awards 55 Contracts Under M&M Program, Divides Responsibilities

In an effort to improve the system of maintaining and selling its inventory of Federal Housing Administration (FHA) foreclosed homes, HUD has awarded 55 new contracts – 23 to companies who will serve as asset managers and 32 to companies who will serve as field service managers – under the third generation of its management and marketing program, known as M&M III. Under prior agreements, M&M contractors were responsible for both the maintenance and marketing of HUD’s REO properties, the department said. But those functions are separated under the new contracts announced Monday.

Link to the rest of the article: http://tiny.cc/clveg

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