Alternative Strategies/Receiverships
Day 1, Session 1: Keynotes
  • Keynote - John Courson, MBA President and CEO
  • Keynote - Vicki Bott, HUD Deputy Assistant Secretary for Single Family Housing
  • Keynote - Vance Morris, HUD Director of Single Family Asset Management

Session 1: State of the Industry

  • Introductions
  • Economic Overview
    • Unemployment Statistics
    • Housing Statistics
    • Implications for Property Preservation
    • Property Preservation Costs
  • Industry Challenges and Efforts
    • Borrower Contact and Expectations
    • Non-Owner Occupancies
    • HAMP
    • Verbal Trial Modifications and Other Options
    • Fannie Mae Rental Program
  • Industry Response
    • Helping Families Save their Homes Act
    • Cash for Keys
    • FHA HAMP
    • HAMP Documentation
    • SAFE Act
  • State Government Reactions
  • Neighborhood Stabilization
  • Local Impact: Vacant Property Registration, MERS, and Property Preservation

Session 2: HUD Part 1

  • Introductions
  • M&M III: Marshal and Swift Database
    • Bid Approvals
    • Tracking Approvals
    • Claims Recoveries
    • Calculating Costs of Doing Business
    • Pilot Program
    • Calculating Pricing
    • Property Allowance
    • Rollout
    • Adjusting Values and Line Items
  • M&M III: P260 System
    • Emergency Approvals
    • Performance Work Statement
    • Pricing Guidelines
    • Training Webinars
    • Photo Submission
    • Data Entry and Document Upload
    • Escalation Process
    • Conveying Damaged Properties
    • MCM FTV/Pre-Conveyance Inspections
    • Conveyance Timeframes
    • Contingency Plans for System Issues
    • Conveyance Extensions for Rehab Work
    • Appeals Process and Role of GTR
    • Training on P260
    • Costs Exceeding P260's 40% Overage Allowable
    • Extensions During Transition
    • Post-Conveyance Inspections and Re-Conveyances
    • Non-Performance and Demand Letters
    • Transition and Deadlines
    • Transmitting Funds through P260
    • Expected Launch Date
    • Running Reports in P260

Session 3: HUD Part 2

  • Teamwork and Communication
  • Demand Letters
  • Appeals Process
  • Tenant Bill
    • Initiating Evictions
    • Allowable for Preservation Work on Occupied Properties
    • Cash for Keys Offers to Tenants
  • Bid Process and Cost-to-Date
    • Cost-to-Date Exceptions
    • Appeals Process for Denials in Marshal and Swift System
    • Reglazing Allowable
    • Approvals After the Fact
    • Automatic Extensions for Non-Response to Bids
  • First-Time Vacancy (FTV)
  • Extensions During Pending Hazard Claim
  • Documentation of Visual Occupancy
  • HOA Common Area Repairs
  • Pools

Session 4: Investors/Insurers

  • Introduction
  • Fannie Mae Update
  • VA Update
  • Freddie Mac Update
  • USDA Update
  • Chinese Drywall

Day 2, Session 1: REO

  • Introduction
  • REO Statistics
  • Cash for Keys
    • Best Practices for Tenants
    • Reducing Possession Timeframes
    • Considerations and Approaches
    • Property Value's Impact on Cash for Keys Consideration
    • Fraud Concerns
  • Preserving REO Assets
    • Initial Services
    • Curb Appeal/Maid Services and Ongoing Maintenance
    • Competition on Neighborhood and Marketability
  • Code Violations
  • Repairing REO Properties
  • Disposition Options and Opportunities

Day 2, Session 2: Tenant Protection

  • Introductions
  • S896 Protecting Tenants at Foreclosure Act
    • History and General Provisions
    • Applicability and Enactment Date
    • Tenant Classifications/Definitions
    • Best Practices
      • Bona-fide Leases
      • Verbal Leases
      • Tenant Verification and Field Service Companies' Responsibilities
      • Notification Requirements
      • Rent Collection/Landlord Classification
      • Property Maintenance/Habitability Standards
      • Code Violations
      • Section 8 Tenants
      • Rent Controlled Properties
    • GSE Programs
      • Freddie Mac
      • Fannie Mae/Deed for Lease Program
    • Alternative Strategies/Receiverships

Day 2, Session 3: Community Impact

  • Introductions
  • US Conference of Mayors Perspectives
  • Vacant Property Registration Ordinances
    • Overview
    • Pre-sale vs Post-Sale Requirements/Safety, Health and Welfare
    • City of Boston MA/MERS Utilization/Servicer Responsiveness
    • MERS Initiative/iRegistrations
    • City of Vallejo CA/National Vacant Properties Campaign Perspective
  • 'Fast Tracking' of Foreclosures
  • Community Regeneration, Sustainability,and Innovation Act of 2009 (S. 453/H.R. 932)
  • ROOF (Retain Occupancy of Foreclosure Agreement)
  • The REO Clearinghouse