Putting The Pieces Together

1. Putting The Pieces Together Selling HUD Homes In Florida

2. This Presentation Brought To You By Rod E. Banks Real Estate Broker and Owner HUD Neighborhood Listing Broker 813-245-4412 1-888-274-5102 (Toll Free) rodbanks@tampabayreosales.com

3. Management And Marketing Program (M&M III) Organizational Structure Mortgage Compliance Manager Atlanta Homeownership Center Field Service Managers (FSM) Asset Managers (AM) Neighborhood Listing Brokers (NLB)

4. Mortgage Compliance Manager • The MCM Performs A Variety Of Pre- And Post- Property Conveyance • Services To Ensure That HUD's Interests Are Protected • Provide Guidance To Mortgagees Related To Pre-And Post-Conveyance Responsibilities • Resolve Conveyance Exceptions • Review Property Inspections To Ensure The Property Is In Conveyance Condition • Ensure Property Has A Marketable Title • Leverage HUD's Software And Information Systems The MCM for the U.S. Dept. of Housing and Urban Development Michaelson, Connor & Boul 4400 Will Rogers Pkwy., Suite 300Oklahoma City, Oklahoma 73108 (405) 595-2000 http://www.mcbreo.com/index.html

5. Atlanta Homeownership Center HOC’s Insure Single Family FHA Mortgages Oversee The Selling Of HUD Homes Direct Oversight of All Functions of FSM’s, AM’s and NLB’s The Atlanta Homeownership Center Serves: Alabama Florida Georgia Kentucky Illinois Indiana Mississippi North Carolina South Carolina Tennessee The Caribbean U.S. Department of Housing and Urban DevelopmentAtlanta Homeownership CenterFive Points Plaza40 Marietta StreetAtlanta, GA 30303-2806 Telephone: (800) CALL-FHA (800-225-5342) Email: ALTInsurance&Underwriting@hud.gov

6. Field Service Managers Foreclosed Properties Acquired By HUD Are Assigned To FSM’s Field Service Managers (FSM) Are Companies That Provide Property Preservation And Protection Services Multiple FSM’s Are Contracted Per Region They Provide These Services: Property Inspections – Pre- and Post- Conveyance To HUD Property Security After Conveyance Provide Avenues Of Cosmetic Enhancements/Repairs Provide On Going Maintenance

7. Asset Managers (AM) Main Contact In Every HUD Home Sale • Contract Processing - Problem Resolution - Support and Information • Responsible For The Marketing And Sales Of HUD Properties • Ensure Property Is Accurately And Competitively Priced • Select The Listing Brokers • Review All Bids Submitted Through Hudhomestore.com • Arrange For Closings And Handling Of Funds • Ensures Sold Homes Achieve The Highest Net Return For HUD • Work With Neighborhood Listing Brokers To Move Towards Closing Each Sale

8. Regional Asset Managers Ofori and Associates, PC 2000 RiverEdge Parkway, Suite 300Atlanta, Georgia 30328 P: 877-667-9022F: 770-955-5881Email: atlanta@oforireo.com http://oforireo.com/ Pemco (770) 609-6800 http://hudpemco.com/ Hometlos (866) 564-6637 https://www.hometelosfirst.com/

9. Neighborhood Listing Brokers (NLB) Responsible For Listing And Marketing HUD Properties Place Properties In The MLS Provide Signage On Each HUD Listing Hold Open Houses Work With The AM And FSM To Insure The Property Is In Showable Condition Work With Buyers Agents To Insure All Contract Requirements Are Met Submit And Track All Bids For Properties At The HUD Homestore Website You Must Be A HUD Approved Broker To Process Bids On HUD Properties

10. How To Become A Neighborhood Listing Broker

11. NLB Documentation Requirements Single Family Acquired Asset Management System (SAMS) Forms Must Be Submitted To HUD For Authorization As A Neighborhood Listing Broker SAMS 1111 Payee Name And Address SAMS 1111A Selling Broker Certification Download Documents from the Hudhomestore.com

12. NLB Documentation Requirements Forms Are Available At www.Hud.GOV/Hudhomes.com Select “NAID Application” Click The Links For “SAMS 1111 and 1111A Bidder Application” Complete Each Form Per Instructions Include Required Documents and Mail To The: Dept. of Housing and Urban DevelopmentAttention: NAID ApplicationFive Points Plaza40 Marietta StreetAtlanta, GA 30303-2306 1-800-CALL FHA (225-5342) Processing Takes Approximately 2 Weeks

13. NAID - Name And Address ID Issued By HUD After Your NLB Application Is Approved Allows Brokers To Submit Purchase Bids On Behalf Of Prospective Buyers Associate Brokers And Agents Must Register After Their Broker Check The Status Of Your Application At Hud.GOV/Hudhomes.com Select “NAID Application” Then Select “Check Current NAID Status” Remember Your NAID For Future Use As A Neighborhood Listing Broker

14. Register at the Homestore Brokers, Selling Agents Nonprofits And Government Agencies Are Required To Register Online Before Submitting Bids Click “Register” On The Home Page

15. 1-to-4 Unit Residential Properties Acquired By HUD As A Result Of A Foreclosure On An FHA Insured Mortgage. Insurable (IN) Eligible For An FHA insured Loan Insured Escrow (IE) Requires Repairs No More Than $5,000 Eligible For An FHA-insured Loan With A Lender-established Repair Escrow Account Uninsured (UI) Requires Repairs Estimated at More Than $5,000 Not Eligible For An FHA 203 (b) Loan May Be Eligible For An FHA 203(k) Loan Price Is Based On An FHA Appraisal Appraisal Factors Are: Type Of Property Location Property Condition And Other Market Influences All HUD Homes Are Sold “As Is” HUD Does Not Warranty Any Portion Of The Property To Be Functional Beyond “Safe, Secure And Marketable” HUD Does Not Make Repairs To Properties Types of HUD Properties

16. Five Types of Buyers Owner Occupants Must Live in Property for 12 Months Good Neighbor Next Door Teachers, Law Enforcement Officers, Firefighters Or EMT’s Must Live In Property For 3 Years Investor Non Profit Agency Government Agency Who Can Buy A HUD Home

17. Equal Housing Opportunity All HUD Properties Are Offered For Sale To Qualified Purchasers Without Regard To The Prospective Purchaser's Race, Color, Religion, Sex, Disability, Familial Status, Or National Origin.

18. Listing Periods Are Based On Type Of Property Bid Open Date Time On Market Lottery - 7 Days Uninsured Homes Insured Single-unit Properties In Revitalization Areas Exclusive - Owner Occupant Insured Properties - 30 Days Uninsured Properties - 5 Days Extended After 180 Days On Market Dollar Government Purchase Only As - Is Appraisal Value Of $1 To $25,000 Four Listing Periods

19. Login Enter The Search Criteria For Where Your Buyer Wants To Live State Location Of County, City Or Zip Code Enter Your Buyer’s Price Range Enter Number Of Bedrooms, Bathrooms Select Search And A List of Properties Will Be Presented How To Search for Properties

20. Select A Property by Its Property Case Number

21. Case Number Eligible Bidders Submission Deadlines Property Info Addendums Maps Agent Info Submit An Offer The Property Listing

22. HUD Offers Free Online Videos and PDF Documents Detailing Each Step Of The Bid Process https://www.yardiasptx11.com/hudreo/Videos/ListingSite_EnterBidV2.swf Entering Bids Checking Bids Modifying and Withdrawing Bids Bids and Contracts

23. All Offers To Purchase (Bids) must Be Submitted Online Select Submit An Offer from the Property Details Page Bids and Contracts

24. Enter The Required Identifying Information NAID Type Assigned NAID Real Estate License # Verifying Characters Select Verify NAID Bids and Contracts

25. Complete all information On the Bid Submission Online Form according To the Buyer’s Bid, Financing Options, Closing Costs, etc. Bids and Contracts

26. Enter Buyer and Selling Agent Information Be Sure To Review All Information For Accuracy Before Submitting The Bid And Contract Package Bids and Contracts

27. The Confirmation Page Can Be Saved and Printed Bids and Contracts The Prefilled Contract Can Be Printed From This Page

28. Contract And Addendums Ensure The Buyer Signs/Initials/Dates As Required On All Contract Pages And Addendums

29. Login to the HUD Homestore Website Select “Review Bids” Monitoring Your Bids

30. Enter Confirmation No. or Buyer Name To Be Directed to the Bid Details Page Monitoring Your Bids

31. An Email Notification Will Be Sent of An Accepted Bid All Contract Documents Earnest Money And Prequalification Letter Must Be Mailed To The Asset Manager Within 2 Days Of Acceptance HUD Form 9548 - Sales Contract Broker Certification Form Lead Based Paint Addendum Radon & Mold Addendums Forfeiture And Extension Policy Home Inspection Addendum Owner Occupancy Notification Additional Forms May Be Required Depending On Locality Upon Acceptance

32. All HUD Homes Are Sold “AS IS” No Repairs Prior To Settlement Are Allowed Closing Agents Are Designated by HUD Commissions are Paid by HUD 3% of Sales Price Plus Bonuses for Timely Closing if Applicable HUD Will Pay Up To 3% Of The Sales Price Towards Closing Fees Buyers May Request Additional Items To Be Paid By HUD See Official Publication Notice H 2001-13 (HUD) Issued: 11/20/01 For More Information Commissions and Other Info Questions, Concerns or Issues May Be Directed To The Asset Manager

33. This Presentation Has Been Brought To You By Rod E. Banks Real Estate Broker and Owner HUD Neighborhood Listing Broker 813-245-4412 1-888-274-5102 (Toll Free) rodbanks@tampabayreosales.com

34. http://www.hudhomestore.com