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The
Office of Asset Management is responsible for oversight of multifamily
project assets after their development. The Office develops policy
for, and oversees, field office asset management operations. The
Office is responsible for oversight of regulated property ownership
and management, routine mortgage servicing, default servicing, acquisition
and disposition of loans (mortgage notes) and properties, and management
of properties where the Secretary is owner or, mortgagee-in-possession.
The Office serves as Multifamily Housing's liaison with the Real
Estate Assessment Center (REAC), and Departmental Enforcement Center
(DEC). The Office oversees field office and lender servicing activities
for HUD involved properties. Through two field Property Disposition
Centers, the Office oversees HUD management, ownership, and the
sale of properties, which HUD owns by virtue of default and foreclosure
or, for which HUD is mortgagee-in-possession. In support of asset
management, the Office defines business requirements for automated
system development and modification. The Office is comprised of
three Divisions:
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The
Policy and Participation Standards Division has two major
functions: |
a)
The development of policy for asset management and disposition
through the drafting of regulations, handbooks, and notices
to implement law, and programmatic policy. The Division's staff
performs portfolio analyses of the financial and physical health
of the portfolio from data collected by Real Estate Assessment
Center (REAC) and other Departmental systems. These analyses
are used for strategic planning, budgeting, and policy development.
b) Previous Participation review and control. All prospective
participants in HUD Multifamily Housing Programs must make certification
of their participation in HUD and other housing agency programs.
Previous Participation Review is cross-cutting to all of Multifamily
Housing's programs, and offices.
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The
Field Asset Management Division is responsible for communications
related to asset management of the insured and assisted multifamily
portfolio, both to and from the field offices, and the public.
The Division is responsible for all matters affecting the condition
of FHA insured multifamily properties and the related performance
of project management. The Division receives and responds to requests
for interpretation of policy, waiver of regulations, HUD property
ownership and sales issues. The Division reviews and processes
requests for prepayment of HUD-insured, HUD-Held mortgages, and
Section 202 Direct Loans. |
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The Business Relationships and Special Initiatives Division
coordinates the business relationships between Multifamily Housing
and other HUD organizations. The Division is the primary liaison
with the Real Estate Assessment Center (REAC), the Departmental
Enforcement Center (DEC), and the Office of Multifamily Housing
Assistance Restructuring (OMHAR). The Division works with these
organizations and others to see that Housing and the affiliated
organizations achieve the goals of the Department. The Division
is responsible for the development and maintenance of operating
protocols and Memoranda of Understanding between Multifamily Housing
and external organizations. The Division also develops and coordinates
procedures and processing of new initiatives for the Office of
Asset Management. |
OFFICE TELEPHONE NO. (202) 708-3730
FAX NO. (202) 401-5978
ROOM
NO. 6160
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