Monday, October 24, 2011

HUD Awards Mortgage Insurance Endorsement Contract for Denver

Matt Martin Real Estate Management (MMREM), a provider of real estate services, including asset disposition, financial advisory, and mortgage loan loss mitigation services, has announced it has been awarded a multi-year contract with its prime contracting partner, STS-MAAG, to provide Mortgage Insurance Endorsement (MIE) processing services for the U.S. Department of Housing and Urban Development (HUD), Denver Homeownership Center (HOC).

The Mortgage Insurance Endorsement contract was reportedly made as part of HUD’s ongoing efforts to ensure effective oversight documentation tied to mortgage loan origination. MMREM, in conjunction with STS-MAAG, will review FHA Case Binders, verify Computerized Home Underwriting Management System (CHUMS) data integrity, and validate all loan closing packages.

“In partnering with STS-MAAG and FHA, we are helping to meet the US Government’s goals of ensuring proper due diligence on FHA’s growing insured loan portfolio,” said MMREM Vice President of Business Development Noah Martin. “Our Quality Management Solution will help mitigate data quality and process compliance issues and assist in the important effort of keeping HUD’s portfolio strong.”

“MMREM is well positioned to help government agencies efficiently manage rapidly increasing transaction volumes while overlaying robust risk management programs,” said Andrew Reamer, MMREM president and COO. “MMREM’s experience providing compliant asset management and loss mitigation services in a rapidly changing housing landscape greatly enhances the government’s ability to stabilize neighborhoods on a national scale while reducing costs to the US taxpayer,” he said.

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