HUD “Buyer Choice” Program – California Counties (Orange, San Diego, Imperial, Riverside, Los Angeles, Santa Barbara, Ventura, and San Bernardino) This program ended on March 7, 2013

HUD will be implementing a “Buyer Choice” closing agent trial program for properties located in the counties of Orange, San Diego, Imperial, Riverside, Los Angeles, Santa Barbara, Ventura, and San Bernardino California. All buyers whose contracts are executed on or after February 15, 2013 in the counties of Orange, San Diego, Imperial and Riverside will be able to choose their own escrow company. All buyers whose contracts are executed on or after February 25, 2013 in the counties of Los Angeles, Santa Barbara, Ventura, and San Bernardino will be able to choose their own escrow company. Please note escrow fees for the Buyer Choice program will now be a

buyer expense

. However, if the buyer chooses to utilize HUD’s closing agent (Cimarron Escrow), the escrow fee will be paid by HUD automatically. Program guidelines are listed below.

Addendum: At the time of contract submission, the selling agent is required to complete an addendum providing PEMCO with the name and contact information of the selected escrow company or buyer’s intent to use Cimarron Escrow.
Sales Contract Line 5: HUD will only pay a portion of the closing fees, if the buyer includes closing costs on line 5 at the time of bid submission and there are sufficient funds remaining to allow for this fee to be paid. If there are no closing costs included in the bid, the buyer will be required to pay all escrow and closing fees.
Earnest Money Checks: (1) Buyer electing an escrow company other than HUD’s closing agent must make the EM check (certified funds) payable to both the “Escrow Company or Name of Buyer”. (2) Buyer who elects HUD’s closing agent must make their check (certified funds) payable to both “HUD or Name of Buyer” (see Earnest Money guidelines).

• Holiday Notice - All Pemco offices were closed May 27th for Memorial Day.
• HUD Pemco Sacramento Closed at 4:00PM on 2-26-13 – A strong gas smell had been dected around the building so we were asked to evacuate. We re-opened at 8:00am on 2-27-13. We apologize for any inconvience.
• Holiday Notice – All Pemco offices were closed February 18th for Presidents Day.
• Holiday Notice – All Pemco offices were closed January 21st for Martin Luther King Day.
• Christmas Holiday – All Pemco offices were closed December 24th and 25th. We reopened on December 26th at 8am. Happy holidays from the staff at Pemco!
• Contract Areas 1D & 2D. Owner-Occupant Sales Incentive- $100 Down has ended. Please check back often for Incentive updates. read more
  
• Thanksgiving Holiday – The PEMCO offices were closed Thursday November 22nd in observance of Thanksgiving.
• Columbus Day – The Pemco offices will be closed on Monday the 8th of October in observance of the holiday
  
• HUD Pemco Offices Closed – All HUD Pemco locations were closed on Monday September 3, 2012 for Labor Day. We reopened September 4, 2012 at 8:00am
• HUD Pemco Offices Closed – All HUD Pemco locations were closed on Monday February 20, 2012 in observance of Washington’s Birthday.
• HUD Pemco Denver office closed – Our Denver office was closed Friday February 3rd due to bad weather. All bids were still reviewed and processed.
• HUD Pemco Offices Closed – All HUD Pemco locations were closed on Monday January 16, 2012 for Martin Luther King, Jr.
• Housing Auction – Check out the latest houses up for auction! For a complete list and links for information Click Here.
• Job Opportunities – PEMCO is seeking State Certified FHA Appraisers. Please see our Appraisers page for more information
• Contract Areas 1D & 2D. Owner-Occupant Sales Incentive-$100 Down – effective 10/20/11. read more
• Contract Areas 1A & 2A. Attention Brokers: (Effective on bids submitted on or after 12/01/2011)
  A broker bonus is being offered in eight market areas: Georgia, Florida, Mississippi, Alabama, Illinois, Indiana, Tennessee, and Kentucky. The following conditions must be met in order for the selling broker to receive the applicable broker bonus.
  • The preliminary bid must be submitted on or after December 1, 2011.
  • A loan commitment letter from a lending institution must be received with the signed Sales Contract if the purchase is to be mortgaged; or, if paying cash, a certification letter must be received from a financial institution stating sufficient funds are available to complete the purchase.
  • The words “Broker Bonus” must be written or typed at the top of the signed Sales Contract.
  • The selling broker must complete and sign the HUD Notification regarding the broker bonus sales initiative.
  • For all properties that close up to 34 days of contract acceptance, the selling broker will be eligible for a $600 bonus*.
  • For all properties that close within 35 to 39 days of contract acceptance, the selling broker will be eligible for a $450 bonus*.
  • For all properties that close within 40 to 43 days of contract acceptance, the selling broker will be eligible for a $300 bonus*.

  *Exclusions apply

  Excludes: Hard-to-sell properties

  The selling broker will not be eligible to receive a bonus for any property advertised by the Asset Manager (AM) as hard-to-sell.

  Note: The Atlanta Homeownership Center will not consider any appeals submitted by the selling broker for properties that fail to close within the aforementioned timeframes. No exceptions.

  Broker Incentive Notice

• PEMCO Pulse on USTREAM! Join the crowd every Wednesday @ 1pm EST!
  
  HUD Q&A – Real Estate News & Events – Housing Information
• Get on Board! PEMCO Buyer Educational Bus Tour
  
  Registration: http://www.hudpemco.com/bustour
  Seats are limited and will be on first come, first served basis.
• San Antonio Auction – PEMCO and Auction.com have joined forces to create home buying opportunities for buyers and investors in the San Antonio area! The bidding on this limited inventory begins November 17th and ends November 21st on www.Auction.com. Check out the properties available for bidding.
• PEMCO You Tube Channel is now available!
  PEMCO Ltd. has launched a You Tube channel to help answer all of your HUD questions! Click on the You Tube icon at the top right of the page to be directed to the channel.
• Attention All Brokers:
  Please be aware that on M&M3 you will need to be registered at the HUD Home Store.
• AppraisersWe are seeking State Certified FHA appraisers
  More info/Apply