Property Preservation Winterization: Contractor Guide & Reference
Winterization of vacant properties as required by HUD, VA, FHA, Fannie Mae, Freddie Mac, other mortgage lenders and Mortgage Service Companies is a critical part of the preservation and protection of abandoned properties and foreclosed homes.
This guide and reference is the result of a months long fact-finding mission by Mr Preservation to gather the steps and procedures of winterization requirements published by government agencies such as HUD, FHA, FHA and USDA; Government Sponsored Enterprises such as Fannie Mae and Freddie Mac as well as dozens of Property Preservation Companies and Mortgage Servicing Companies.
The steps and procedures of those requirements have been blended with the techniques and procedures of Property Preservation Contractors from across the country to create a comprehensive and reliable publication on the subject of property winterization.
The 70+ page guide is not puffed up with pictures of toilets and frozen wastelands. Every page is used to present the facts and stories of what has to be done in order to protect the property from freeze damage and the contractor from enormous liabilities.
Mr Preservation publications are still the most well known and widely read publications on the subject on property preservation and you are sure to want to add Property Preservation Winterization Contractor Guide & Reference to your contractor’s library.
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HUD Field Service Manager Awardees List
HUD has centralized its property management functions into a single point of contact, designated as the Field Service Manager (FSM) (see Mortgagee Letter 10-16 for further information). The FSM contracts were awarded to multiple field service management companies in 10 award areas.
Note: HUD Has Not Updated This List Since 22 Februrary 2011
Download Field Service Manager Awardees List
USDA Obligations Related To Property Possession and Preservation
The purpose of this Administrative Notice (AN) is to clarify the provisions of RD Instruction
1980-D regarding the content and submission requirements for Single Family Housing
Guaranteed Loan Program (SFHGLP) lender/servicer real estate owned (REO) property
disposition plans (PDP) and incorporate guidance regarding occupied REO.
Download USDA Obligations Related To Property Possession and Preservation
USDA Handbook Chapter 15: Managing Custodial and REO Property
The Agency assumes management responsibility for 2 types of properties: custodial and
real estate owned (REO). Custodial property is borrower-owned property which has been
abandoned. REO is Agency-owned property to which the Agency has acquired title, either as a
result of foreclosure or conveyance by deed in lieu of foreclosure. This chapter outlines the requirements for management of each type of property.
Download USDA Handbook Chapter 15: Managing Custodial and REO Property
USDA Handbook Chapter 16: Disposing of Real Estate Owned Property
The Agency will make every effort to sell real estate owned (REO) properties quickly
and at the best possible price. Whenever possible, preference will be given to selling REO
program property to buyers eligible for Direct or Guaranteed SFH programs.
Download USDA Handbook Chapter 16: Disposing of Real Estate Owned Property