HOA and Utility Services

Mortgage Contracting Services manages all utility-related functions for assigned properties, including coordinating activation, ongoing service, and deactivation with local utility providers and municipalities. The team also reviews utility expenses and submits invoices with supporting documentation to the client for payment.

Mortgage Contracting Services notifies utility companies of our client’s ownership of properties and requests final bills from each utility provider. In the case that our clients are required to maintain utility services per investor regulations or to prevent damage to a property, we instruct the utility companies to have the service transferred to our clients’ names. Mortgage Contracting Services determines and promptly advises our clients if there are any outstanding balances on their utility bills that may result in a lien being placed against the property that would hinder conveyance by the client.

Mortgage Contracting Services provides our clients with documentation supporting outstanding utility company bills and we provide certification to our clients to ensure compliance with HUD ML-2013-18.

Mortgage Contracting Services processes utility reimbursements to agents/brokers on behalf of the client for utility expenses related to properties serviced by Mortgage Contracting Services. Agents/brokers submit documentation, including invoices and proof of payment, to Mortgage Contracting Servicesfor utility expenses related to the activation, ongoing service and deactivation of utility services for each REO property. Mortgage Contracting Services reviews the utility documentation to ensure that reimbursements to agents/brokers are properly supported and will reimburse agents/brokers timely. Mortgage Contracting Services submits invoices to the client based on reimbursements paid to agents/brokers and related fees.

Mortgage Contracting Services performs utility research on behalf of our clients that does not result in a utility action.