new HUD contracts for FSM - REO Property Preservation Forum
 
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post #1 of 9 (permalink) Old 07-12-2012, 11:34 PM
AAS
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new HUD contracts for FSM

I am not sure if this has been discussed before or not. But HUD just ended bidding on a solicitation for FSM in several different geographic locations. I was watching it closely because well after moving to SC and having to "re-setup" my business, I have a little more time on my hands than normal.
According to the HUD paperwork, the transition should begin 90 days after the award (which I would imagine would be posted to FPDS within a month). With that said, I will be interested who picks up the new FSM contracts and what that means for us.
Thoughts???
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post #2 of 9 (permalink) Old 07-18-2012, 08:26 PM
mpostelli
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Is there a website in which you have been watching the bidding? I am interested to know how things work out also.
post #3 of 9 (permalink) Old 07-19-2012, 10:20 AM
AAS
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you can't see the bidding per se; but once HUD has awarded the contract, it will show up in the federal procurement award system.

https://www.fpds.gov
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post #4 of 9 (permalink) Old 07-19-2012, 10:41 AM
FremontREO
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Dont put a lot of credence in the award. The prior servicer can get up to 3 years worth of extensions after the award is given. There are several reasons for these extensions but primarily it is to give time for the new awardee to have contractors in place.
post #5 of 9 (permalink) Old 07-19-2012, 10:45 AM
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I completely agree with you Freemont. The proposal states that once the award is granted the new FSM should be fully active by Jan 1; but of course we are talking about the government so who knows. I just like to keep an eye out for down the road.
post #6 of 9 (permalink) Old 08-26-2012, 09:52 PM
SRT-Diesel
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AMS is about to be on year 3 at the end of this year, out of the 5 year contract they have.
post #7 of 9 (permalink) Old 08-26-2012, 10:36 PM
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Quote:
Originally Posted by SRT-Diesel
AMS is about to be on year 3 at the end of this year, out of the 5 year contract they have.
Not sure if I am getting the wrong info but I have heard they are bailing on HUD in MI so they can solely focus on Fannie. Could be a load of crap though it is hard to screen through all the BS.
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post #8 of 9 (permalink) Old 08-27-2012, 12:22 AM
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That may be true, but they aren't losing the contract. And with over 1k employees I'm sure there is more than enough people to focus on each contract.
post #9 of 9 (permalink) Old 08-27-2012, 12:51 AM
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Quote:
Originally Posted by SRT-Diesel
That may be true, but they aren't losing the contract. And with over 1k employees I'm sure there is more than enough people to focus on each contract.
I was told that it was not cost effective to keep it because of the competition between the other three FSMs.
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