Announcements 

2/13/2012 – Frisco Office

MMREM- Frisco Office will be shut down today due to a power outage in the building. All phone calls will be routed to various representatives who are available to assist. Thank you for your patience.

1/13/2012 – MLK Day

MMREM offices will be closed in honor of Martin Luther King, Jr. Day. Offices will reopen during regular business hours on 1/17/2012.

12/20/2011 – PA Transfer Tax

Please be advised that transfer tax in the state of Pennsylvania is a buyers expense and not an expense that will be paid by HUD.

11/23/2011 – Offices Closed

MMREM offices will be closed starting at 2 pm local time today. Offcies will be closed tomorrow 11/24/2011 and will reopen during regular business hours on 11/25/2011.

 

11/18/2011 – Arkansas Sales

Due to a recent court ruling there will be no HUD-owned properties available for sale in the State of Arkansas until HUD determines the propertiescan conveywith clear title. Updates on this situation will be provided as information is received from HUD.

 

11/11/2011 – MMREM Offices Closed

Please be advised that all MMREM offices will be closed today in honor of Veterans Day. MMREM offices will be open again during normal business hours on Monday (11/14/2011)

 

11/07/2011 – The Five Star MPact

 

Join MMREM at MPact as we get out the word about the government's $100 down payment
program! Come and learn valuable specifics on the program and how you can make
it work for you!

take advantage of these courses at MPact

HUD's 203(k) Program
Learn to tap into the Department's primary program for financing the rehabilitation and repair of
single family homes. This progressive plan allows the borrower to get just one
mortgage loan to cover both the purchase and the remodeling of a property. Come
hear directly from HUD officials on how to benefit from this
program.

RESPA for Settlement Service Providers Continuing Education credit before the end of the year!
The Real Estate Settlement Procedures Act, RESPA, covers regulations and protections on closing costs and
settlement procedures, and is vital information for brokers, servicers, agents,
title companies, and everyone in the industry. This four hour CE course will be
taught by Dr. Gary Lacefield on December 5. Important: register by November 4
to ensure credit is obtained.

Neighborhood Stabilization Program (NSP)
Learn how to profit from this $7 billion U.S. government program
established expressly for the purpose of helping communities and borrowers
through down payment and short sale assistance.

REO Certification for Mortgage Bankers and Brokers
Mortgage bankers and brokers can now receive
REO certification, learn the nuances of this exploding segment, and as an added
value, get connected with Five Star's REO certified real estate agent network,
the Five Star FORCE.

Keynote
Speaker Condoleezza Rice

**When registering use promo code 'MMREM' to receive a discounted rate on registration.

Information and registration for MPACT is available at: www.thefivestar.com/mpact

December 4-6, 2011

The New Dallas Omni

Dallas, Texas

11/03/2011 – Cash Deals

Effective 11/2/2011 all "cash deals" must close within 30 days in the following MMREM states: OH, PA, WV, VA, MD, DC, DE

 

10/20/2011 – $100 Down

Effective for the following MMREM states ONLY: TX, LA, AR, MO, OK, KS, CO, UT, NM   

Effective immediately for all offers accepted after 10/19/2011 the $100 downpayment sales incentive for the Denver HOC has been approved for the next 12 months.

The requirements for the incentives are:

- owner occupant utilizing FHA-insured financing

- offering full current list price

Properties currently in step 7 or 8 are not eligible for this incentive.

Please note that the loan amount cannot exceed the full list price; therefore, a sufficient amount needed to cover upfront MIP must be included on line 5 of the sales contract or the buyer will have to pay that amount out of pocket at closing.

10/03/2011 – Bid Timelines

Please take note of the bid timelines below. These are timelines for all properties and are to be passed along to the buying and real estate community. PLEASE ENSURE THAT THE BUYERS AND BROKERS IN YOUR COMMUNITY UNDERSTAND THESE TIMELINES.

Insured and Insured with Escrow Properties
Bidding is restricted to Owner Occupants only for the initial 30 days that the property is listed. On the 11th day of being listed MMREM will open all bids received Days 1–10 as though they were received simultaneously and if there is a bid that meets MMREM’s thresholds, it will be accepted. If no bid meets MMREM’s thresholds, the property will remain on the market and bids will be opened everyday at the end of the day thereafter until an acceptable bid is received. 203k loans may be available for these properties.

Uninsured Properties
Bidding is restricted to Owner Occupants for the initial 5 days that the property is listed. On the 6th day MMREM will open all bids received Days 1–5 as though they were received simultaneously and if there is a bid that meets MMREM’s thresholds, it will be accepted. If no bid meets MMREM’s thresholds, bids will be opened everyday thereafter until an acceptable bid is received. 203k loans may be available for these properties.

Please contact your regional office location or email questions@mmrem.com for additional questions.