HOA and Utility Services

MCS facilitates all utility-related functions for each REO property serviced. MCS coordinates with local utility providers and municipalities to manage the activation, ongoing service and deactivation for each utility service that is necessary for each property. MCS reviews utility-related expenses and submits invoices, including related supporting documentation and fees, to the client for payment.

MCS 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 client’s name. MCS 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.

MCS 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.

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

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