HUD – Register As A Bidder

What Is A HUD Registered Bidder?

If you are a licensed real estate agent associated with a firm that has an NAID (name address Identifier) then you can register to submit bids on behalf of your clients for listed homes in the HUD Home Store.

Below is a video to explain the registration process.

The prerequisites are that you have a Broker with an NAID and  you must have a valid real estate license. You just navigate you way to Once there click on the Register: » Bidder  A Window will open with information for you to complete your registration. After than you can come back at anytime and login with your credentials you have set up and then begin the process of submitting a bid. That is covered in a separate video.



**************************************************************************** © 2016 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: *******************************************************************************

What Is A HUD Home?

Who is Eligible to Buy a HUD Home?

The HUDHomeStore  is the listing site for HUD real estate owned (REO) single-family homes and 1-4 Unit Multifamily properties. This site provides the public, brokers, potential owner-occupants, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale.

Since the FHA has guaranteed the loan on behalf of the federal government, when the foreclosure process is completed, FHA pays off the lender of record and it goes back to HUD as the responsible party for all FHA insured loans. HUD homes are then put for sale at the current market rate with the aim of selling it off quickly and recovering the money. It in fact offers a good option for those looking to buy HUD homes. There are many programs for discounted purchases (these will be covered in another article.)

HUD will sell the property using a HUD broker though a bidding process.

In order to buy HUD homes, one can purchase only through real estate agents approved by the U.S. Department of Housing and Urban Development. Approved agents can submit bids on behalf of the buyer

Owner occupants rank above nonprofits and government agencies in the bid-selection process for Exclusive and Extended listings. During the first 30 days that a FHA foreclosure is listed for sale, only owner-occupants are permitted to place bids; if a successful bid is not accepted by the time the initial priority period has elapsed, bidding is opened to investors.

Home buyers are motivated to buy HUD homes because they are listed at or below market value and it offers them the opportunity to purchase a home than they might not normally be able to purchase.

HUD does not provide home loans directly to buyers; you need to negotiate your loan with a lender or bank of your choice. Buyers must have a letter of pre-approval from a mortgage lender or cash with proof of funds.

The agent will be notified within 48 hours of an accepted bid. The settlement or escrow stage is usually completed within one to two months, during which time financing is arranged and the sale is closed. As in the case of a normal real estate transaction, if you do not close by the 55-Inspectingsettlement date, your earnest money deposit is forfeited or you will have to pay a per Diem fee until the close of the sale.

The Federal Housing Administration does not guarantee the condition of its properties and will not pay for the correction of defects. Because the new owner will be responsible for making needed repairs, HUD strongly urges every potential home buyer to get a professional inspection prior to submitting an offer.

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**************************************************************************** © 2016 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: *******************************************************************************

Okay So What Is HUD?

United States Department of Housing and Urban ...

 The U.S. Department of Housing & Urban Development

Also known as HUD, the U.S. Department of Housing and Urban Development was established in 1965 to develop national policies and programs to address housing needs in the U.S. One of HUD’s primary missions is to create a suitable living environment for all Americans by developing and improving the country’s communities and enforcing fair housing laws.

English: A photo portrait of , Secretary of Ho...

Shaun L. S. Donovan (born January 24, 1966) is the United States Secretary of Housing and Urban Development, serving in the cabinet of President Barack Obama. Prior to this he headed the New York City Department of Housing Preservation and Development. On December 13, 2008, in his weekly national radio address, President-elect Barack Obama announced that he would appoint Donovan to his cabinet. He was confirmed by the U.S. Senate through unanimous consent on January 22, 2009 and sworn-in on January 26th.

How does HUD help homebuyers and homeowners?

HUD helps people by administering a variety of programs that develop and support affordable housing. Specifically, HUD plays a large role in homeownership by making loans available for lower- and moderate-income families through its FHA mortgage insurance program and its HUD Homes program. HUD owns homes in many communities throughout the U.S. and offers them for sale at attractive prices and economical terms. HUD also seeks to protect consumers through education, Fair Housing Laws, and housing rehabilitation initiatives.

What Is HUD’s Mission?

According to their website, HUD’s mission is “to create strong, sustainable, inclusive communities and quality affordable homes for all.” Their emphasis is on providing quality and affordable housing for all that is free from discrimination.

So What Does HUD Do?

HUD influences nearly all aspects of housing in the US. They are part Insurers, funders and regulators. One of their roles is to insure mortgages issued by other lending institutions. They also regulate Fair Housing, Health & Hazards. HUD provides financial assistance to communities through Grants and funds Mortgage Backed Securities through Ginnie Mae.

What Are the Major Program Offices of HUD?

1. Community Planning and Development

  1. Provide grants to communities for economic development and neighborhood revitalization
  2. Provides grants to communities for housing and rental assistance for the homeless, disabled and those with HIV/AIDS
  3. Provides grants to state governments to implement plans to increase home ownership and affordable housing for low income residents (HOME).
  4. Provides grants to assist properties with environmental contamination (BEDI).
  5. And offers tax incentives to businesses to hire workers from, areas of high poverty.

The main purpose is to watch over the Federal Housing Administration (FHA), which is responsible for insuring mortgages. The Office of Housing operates in three main sectors:

  1. Single Family Housing:
  • Insures mortgage loans for low income families and victims of disaster.
  • Insures loans for manufactured homes, property improvements and property rehabilitations.
  • Sells HUD foreclosures to eligible buyers.
  • Helps buyers avoid foreclosure through loss mitigation (mortgage modification, partial claim).
  • Assists the elderly (over 62) with reverse mortgages (allows them to turn equity in their homes into a monthly income stream or a line of credit).
  • Allows law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes located in HUD revitalized areas at great discount, usually 50% from the list price (Good Neighbor Next Door).
  • Provides counseling for buyers, sellers and tenants.
  1.  Multifamily Housing:
  • Shares the risk and insurance premium on multi-families with Fannie Mae and Freddie Mac.
  • Sells multifamily foreclosures to eligible buyers.
  • Provides grants to housing developments that provide housing for low income elderly and the disabled.
  • Grants for emergency repairs on multi-family properties with elderly tenants.
  • Insures mortgage loans for manufactured home parks, to finance cooperative housing projects and for housing and housing repairs in urban renewal designated areas.
  • Mortgage insurance for construction or rehabilitation of multi-families for moderate income families.
  • Loan insurance for healthcare facilities.
  1. Regulatory Programs:
  •  Establishes standards for manufactured home construction and safety.

3. Public and Indian Housing

  1. Provides annual funds to the Public Housing Authority’s (PHA’s) to be used for management and operations.
  2. Provides rental assistance for very low income families to choose their housing and for families who live in specific housing developments (Housing Choice (Section 8), and Project Based Voucher Programs).
  3. Helps Section 8 and low income families buy homes of their choice and public housing homes (Section 8 Voucher Assistance, and Public Housing Homeownership).
  4. Aims to transform neighborhoods of extreme poverty and eradicate severely distressed public housing (HOPE VI, Choice Neighborhood Program).
  5. Provides resources to help individuals become self-sufficient, including education, job training, and counseling (ROSS).
  6. Issues block grants and provides housing assistance to develop Indian tribal, native Alaskan and Native Hawaiians communities.

4. Fair Housing and Equal Opportunity

  • Enforces the Fair Housing Act, which prohibits discrimination in any housing related activities (buying, selling, renting, obtaining mortgages).
  • Provides funding to states to enforce their local fair housing laws.
  • States everyone has an equal opportunity to benefit from HUD programs.

5. Policy Development and Research (PD&R)

  • Analyzes current HUD policies and current housing market conditions to determine what policies are working, what areas need improvement and what the current housing needs are in the country.
  • Their research directly influences HUD’s strategic plan (including their budget and legislative proposals).

6. Government National Mortgage Association (Ginnie Mae)

  • Ginnie Mae works with issuers and investors of mortgage-backed securities (MBS).
  • Banks or other institutions pool their government insured mortgages (FHA or otherwise) and sell them as a bond to investors, usually institutions, who package them in a mutual fund. Ginnie Mae insures these bonds for a fee.
  • Even if a bank or borrower defaults on the loan, the investors would still be guaranteed their money because Ginnie Mae MBS’s are the only securities that have the “full faith and credit guarantee of the U.S. Government”.

7. Healthy Homes and Lead Hazard Control

  • Eliminates lead based paint hazards in American housing.
  • Provides grants to state and local governments to develop programs to reduce lead and other health hazards.
  • Enforces lead based paint disclosure regulations for rental or sale of homes built before 1978.

8. Office of Sustainable Communities

  • Their goal is to locate affordable housing near job centers and accessible transportation and to lower energy costs. They aim to do this by integrated community planning in transportation, energy, and land use.
  • It is broken down into the Sustainable Communities Initiative and the Energy Innovation Fund.




HUD-equal-housing-opportunity (Photo credit: Apple Realty)










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**************************************************************************** © 2016 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity. Privacy Policy Sherry Fields 1020 South Ave. W., Missoula, MT 59801 | Phone: (406) 207-8448 | Email: *******************************************************************************

4515 23rd Ave Missoula MT

Sorry Sold!

Just Listed at $190,000

This property is on the corner of 23rd Ave and 42nd Ave in Missoula. Great Location, great views of the mountains, close to the schools, shopping, restaurants and entertainment. It has 3 bedrooms, 2 baths on the main level with another bath in the lower level. The lower level is a walkout to the cement pool. Single car garage, tuck under and decks on 2 1/2 sides of the house. Chain link privacy fencing in the back yard. This is a Must See!.


Case Number 311-193268, “HUD homes are Sold As Is” visit the HUD Home Store at for more information on bidding and additional addendums. Also visit This home is a spacious raised ranch made for entertaining with its wrap around decks on 2 ½ sides overlooking the in-ground pool. There is a bright sunny kitchen even on dull days, compact but with everything right where you need it. One of the great finishing details is the wall oven in the rock wall beside the telephone nook. The dining room, just steps away, has windows on two sides with enough room for a dining room suite. This room opens onto the decks down to the pool and also overlooks the sunken living room. A beautiful stone fireplace featured in this room is just waiting for a gas insert to bring it back to the warmth it once radiated. The main level features three bedrooms with built ins, a main full bathroom and an ensuite ¾ bath in the master bedroom. While the basement features another bathroom, a large office or den, and a recreation room with a fireplace and a walkout to the pool area. The yard has a chain link privacy fence surrounding the back and pool area.


Brokers with a valid NAID number can submit bids on this house at Otherwise the listing agents can submit a bid for you with their NAID on behalf of the buyer’s agent. Property sold “As Is” also see

Fannie Mae & Freddie Mac In the News

Latest Real Estate News

Statistics are showing more buyer confidence. A January 2014 Housing Survey revealed:

  • 52% of respondents thought it would be easy for them to get a home mortgage today
  • 70% of respondents said they would buy if they were going to move

In other news today …

English: An example of a real estate owned pro...

English: An example of a real estate owned property in San Diego, California. (Photo credit: Wikipedia)


New Report Critical Of Fannie Mae And Freddie Mac Fee Collection

A report released Wednesday by the Federal Housing Finance Agency (FHFA) was critical of Fannie Mae and Freddie Mac’s collection of late fees. The report criticized the two for poor management of late fee collection, noting large sums of money either not being consistently collected or collected at all. »READ MORE

Bank Of America To Cut More Mortgage Jobs

Bank of America, the second-largest U.S. lender, is cutting 450 mortgage jobs from its West Coast Offices. The lending giant is reducing staff after new loans fell short of internal forecasts. In a report by Bloomberg, affected employees were told yesterday that workers involved in processing home loans would be let go. »READ MORE

Housing Inventory Continues Fall In January

January marks another decline in home inventory, according to a report issued by Redfin. With the caveat that “it is too soon to tell,” the brokerage did offer some optimism regarding inventory in coming months, revealing “Redfin agents report that most of their home selling clients are planning to list between March and May.” »READ MORE

Fannie Mae Increases Incentives To Purchase REO Properties

Fannie Mae announced Thursday that homebuyers can now receive up to 3.5 percent in closing cost assistance. The help is available within the FirstLook period of Fannie Mae’s HomePath properties in 27 states. The incentive will offer qualified buyers up to 3.5 percent of the final sales price to pay closing costs. »READ MORE





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December Results Housing Pulse

 Investor Enthusiasm Is Lacking but Most Housing Markets Showing Signs of Stability

by: Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

Trends in investor traffic took an uncharacteristic divergence from trends in traffic from current homeowners and first-time homebuyers in December, according to the latest results from the

However, six months after interest rates started to rise, the housing market shows remarkable resilience.

While investor traffic has largely moved in step with traffic from other buyers in recent years, the investor traffic index in December lagged behind owner-occupant indexes. The investor traffic index for December was at 46.5, essentially flat compared with the previous month. The index tracks sentiment of agents. Any average above 50 is rising; any average below 50 is falling.

The owner-occupant indexes weDecChartre both up sharply in December compared with the previous month. The current homeowner traffic index even shifted into rising territory, from 47.1 in November to 50.5 in December.

Investors accounted for 18.5% of home purchases in December, based on a three-month moving average, also flat compared with the previous month. In December 2012, investors accounted for 21.5% of home purchases, based on a three-month moving average.

The decline in investor participation is tied to rising home prices and a lack of inventory. “Prices have gone up significantly since the bottom of the market in 2010,” said an agent in Arizona. “Investors are now pulling back, but other buyers are all looking still for inventory below $150,000, which there is very little of, and not in good condition.”


Distressed properties accounted for 24.8% of home sales in December

This was based on a three-month moving average. The share of distressed property sales continues to be closely divided between move-in ready REOs, damaged REOs and short sales.

Florida had the highest share of distressed properties in December. Some 36% of home sales during the month were distressed property transactions, based on a three-month moving average. The industrial Midwest and Farmbelt also had distressed property proportions above the national average. The Northeast had the lowest distressed property share in December, at 18% based on a three-month moving average.

The housing market in December was much stronger than it has been in previous years.


Non-distressed properties were on the market for 9.7 weeks in December, based on a three-month moving average. In December 2012, the average time on market for non-distressed properties was 12.4 weeks.


Properties in western states continued to sell more quickly than the national average. In California, the average time on market for non-distressed properties in December was 4.8 weeks, based on a three-month moving average. Non-distressed properties take longest to sell in the industrial Midwest, Northeast, South and Farmbelt, where the time on market in December was at least 10.5 weeks, based on a three-month moving average.


Sales-to-list price ratios on non-distressed properties in December were well above levels seen in recent years. The national average was 97.1%, based on the three-month moving average, up from 95.5% in December 2012.


Western states and oil producing states had sales-to-list price ratios at- or above the national average for non-distressed properties in December. In California, the sales-to-list price ratio during the month was 99.7%, based on the three-month moving average.

for the full report visit



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HAMP Report Released

Treasury Releases November

Making Home Affordable Report

Nearly 23,000 permanent loan modifications were completed under the Home Affordable Modification Program (HAMP) in November, according to a new report from the U.S. Treasury. That brings the total count of active permanent HAMP mods to just over 922,000.

Since the start of the federal program, 1.3 million HAMP mods have been granted permanent status. Of those, 353,073 have been disqualified from the program and 22,874 loans have been paid off.

According to Treasury’s data, homeowners have reduced their first-lien mortgage payments by a median of approximately $546 each month, or almost 40 percent of their median before-modification payment. Total estimated savings afforded by the government’s modification program is $24.2 billion to date, Treasury reports.

read more …


Seal of the United States Department of the Tr...

Seal of the United States Department of the Treasury (Photo credit: Wikipedia)

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Short Sale Rule Change for HUD Properties


Relationship has become an important element in the REO and short sale market. Government funding sources such as FHA (Federal Housing Authority) and HUD (Housing and Urban Development) recently announced changes to the rules for purchasing a short sale. All transactions must be arms length, meaning that no family members or relations can purchase the home through the short sale process. But relationship extends even further to close personal or business relationships – see the article below for more details.

HUD Announces New Short Sale Requirements

Effective October 1, 2013, HUD has announced the following changes to their Federal Housing Administration (FHA) short sale requirements: To be eligible, one must successfully complete a short sale under the FHA short sale program. The borrowers must meet the following requirements: They cannot list the property with or sell it to anyone with whom they are related or have a close personal or business relationship. » Read More


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Gov’t Shutdown – The Effect On Real Estate

What Does the Government Shutdown

English: Sign in front on of the Minnesota His...

English: Sign in front on of the Minnesota Historical Society Building stating that the building and office are closed due to the 2011 Minnesota State Government Shutdown. (Photo credit: Wikipedia)

Mean for the Housing Market?

While government leaders try to sort out the implications of the government shut down, various agencies within the government must by law “shut down”. Locally in the housing market it will be felt most by the USDA’s RD (Rural Development) Loan department. Yesterday the offices were closed and will remain so until a settlement is reached.

As the federal government ground to a halt Tuesday, the question
of how the shutdown will affect the housing market remains at the front
of everyone’s mind. So how will the housing market react? The answer: it

Most economists agree that the short-term effects of the shutdown should
be minimal, assuming that the shutdown is short-lived. » Read More

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30197 Beavertail

Sold1Mostly level lot, with slope at northern edge. Walking distance to the beautiful Beavertail Pond with boat and fishing access. Seller did apply for septic approval and received it but decided not to build. Currently fenced on the east and north sides of the lot, seller had future plans to fence remaining two sides. Access has been across adjacent lot at the gate.