With increasing regulation and higher penalties, it is imperative that you have a highly capable vendor who is well versed in the intricacies of the FHA/HUD Process.
At First Rate we have perfected the process, enabling a smooth transition period from default through foreclosure, sale, and conveyance.
![](https://www.firstratefieldservices.com/wp-content/uploads/2019/07/first-rate-REO-FHA-Experts-header-BG.jpg)
FHA assets need firm management to ensure that timelines are met and P260 uploads are accurate.
The proper communication of controllable and uncontrollable delays is what will ensure a smooth process no matter the difficulty of the asset in question.
Points of Perfection
- Damage Reports
- Conveyance Summaries
- One-stop communication and negotiation shop with ISN and P260
- Accountability on re-conveyances
- High organization and timeline standards for our Field Representatives
- Thorough Community Outreach Program to minimize jurisdiction authority issues and to maximize compliance
Properties need to be managed and coddled according to their loan type with a specific focus on recurring themes per region. Issues in the southeast are different than issues in the north central. Some states will naturally have larger trash-outs needed or are more prone to natural disasters. Geography matters to the efficacy of your FHA program and to your vendors being able to maintain proper timelines and procedures.