AHMSI Table of Contents
AHMSI Table of Contents
AHMSI Table of Contents
Table of Contents
This table of contents was created by the Western Center on Law and Poverty to facilitate access to documents explaining the
policies and procedures American Home Mortgage Servicing, Inc. (AHMSI) employs in managing REO properties. AHMSI rebranded
1
itself as Homeward Residential Holdings in May 2012, and now operates as an Ocwen subsidiary. The documents below were
produced in August 2011 pursuant to a court order compelling AHMSI to respond to Plaintiffs discovery requests in Nativi v.
Deutsche Bank. The page numbers correspond with the page numbers of the entire PDF document and not with the individual pages
numbers found in the various documents. To jump to an exact page, type exact page number into the white box found in PDF
document viewer
. . To search specific key terms, use CTRL+F on your keyboard.
Bloomberg Businessweek
Eviction ........................................................................................................................................................................... 25
Purpose ............................................................................................................................................................................ 25
Scope ................................................................................................................................................................................ 25
Responsibilities ................................................................................................................................................................. 25
Procedure ......................................................................................................................................................................... 25
New Acquisition Eviction Referral ................................................................................................................................ 25
Eviction Referral Monitoring ........................................................................................................................................ 26
Closing Eviction Referral .............................................................................................................................................. 26
Repairs
........................................................................................................................................................................... 27
Purpose ............................................................................................................................................................................ 27
Scope ................................................................................................................................................................................ 27
Responsibilities ................................................................................................................................................................. 27
Procedure ......................................................................................................................................................................... 27
Types of Repairs ........................................................................................................................................................... 27
Evaluating Repairs ....................................................................................................................................................... 28
Obtaining Bids .............................................................................................................................................................. 28
Repairs Approval .......................................................................................................................................................... 28
Completion of Repairs .................................................................................................................................................. 28
...................................................................................................................... 37
Purpose ............................................................................................................................................................................ 37
Scope ................................................................................................................................................................................ 37
Responsibilities ................................................................................................................................................................. 37
Procedure ......................................................................................................................................................................... 37
Approvals ..................................................................................................................................................................... 37
Documentation ............................................................................................................................................................ 38
Maximum Maintenance Allowance ............................................................................................................................. 38
Maximum Repair Allowance ......................................................................................................................................... 39
Return on Repair Investment ....................................................................................................................................... 40
Valuation, Maintenance and Repairs ........................................................................................................................... 40
Maximum Valuation Variance ...................................................................................................................................... 40
Listing Approval Categories .......................................................................................................................................... 41
Commission Rates ........................................................................................................................................................ 42
Maximum Percentage of Sales Price for Other Sales Expenses ................................................................................... 42
Review Maximum Days in Inventory Aged Files .......................................................................................................... 42
Maximum Broken Bonus .............................................................................................................................................. 42
Contract Approval Categories ...................................................................................................................................... 42
Percentage Buyers Incentive of Sales Price ............................................................................................................... 42
Escrow/Closing ........................................................................................................................................................... 47
Purpose ............................................................................................................................................................................ 47
Scope ................................................................................................................................................................................ 47
Responsibilities ................................................................................................................................................................. 47
Procedure ......................................................................................................................................................................... 47
Closing Document Preparation ................................................................................................................................... 47
Monitoring the Closing ................................................................................................................................................ 48
Processing Sales Proceeds ........................................................................................................................................... 48
Quality Assurance ........................................................................................................................................................ 48
.............................................. 52
Overview of Power REO Management Services, Inc. ....................................................................................................... 53
Power REO Broker/Agent Requirements ........................................................................................................................ 54
Registration ................................................................................................................................................................. 54
Media Relations Policy Statement ............................................................................................................................... 55
Power REO Contact Info .............................................................................................................................................. 56
DARES Business Portal ................................................................................................................................................ 56
Property Condition/Occupancy Status ........................................................................................................................ 57
Relocation Assistance Option ...................................................................................................................................... 58
Eviction ......................................................................................................................................................................... 60
Rental Properties ......................................................................................................................................................... 62
Property Preservation .................................................................................................................................................. 64
Broker Price Opinion (BPO) Reporting ......................................................................................................................... 67
Monthly Reporting ....................................................................................................................................................... 67
Mortgage Insurance (MI)/ Special Investor ................................................................................................................. 68
Marketing ..................................................................................................................................................................... 68
Listing Process ............................................................................................................................................................. 68
Auction ......................................................................................................................................................................... 69
Offers ........................................................................................................................................................................... 69
Accepted Contracts ................................................................................................................................................. 71
Closing .......................................................................................................................................................................... 71
Exception Bid Requirement(s) ..................................................................................................................................... 72
Exception Reimbursement Request ............................................................................................................................. 73
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