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MEMO # 1066 Property Preservation Receipts
This memo is to clarify specific points about receipt requirements for various preservation activities under current investor/insurer guidelines. The storage receipt information below supercedes the information in Memo 1021. Per Attachment 5, Page 1 of the ML 2003-05 FHA guidelines, "Mortgages must maintain a salvage and dumping fee receipt for each property in the claim review file." HUD indicates that this requirement is in place to ensure that debris and personal items are appropriately disposed of or stored. In order to comply with HUD requirements as well as with our clients' requests, Safeguard has modified our storage receipt policy to mirror our dump receipt policy. Receipt requirements are described below .
Storage Receipts
Safeguard requires storage receipt information to be submitted whenever personals are removed and stored. This requirement applies regardless of whether the personals are removed and stored within the cubic yard allowable of the region . All storage receipts should have the name, address, and phone number of the storage facility.
If you use a storage facility, you must submit the receipt information from the facility. If you store items at your own site, the name, address, and phone number information must still be submitted in the form of a receipt. Entering this information into the proper fields on our website will be sufficient.
All receipt information must be sent to Safeguard with your update to be processed timely. If your update lacks a receipt to support storage or disposal fees, those fees cannot be paid.
Pest Extermination
All exterminations must be performed by an exterminator licensed to conduct business in the area where the subject property is located, and you must provide proof of licensure in the form of a receipt from the licensed exterminator. The exterminator's receipt must be submitted along with your update, photo, and invoice, so that the work order can be properly updated to our clients.
Dump Receipts
Contractors are required to submit a dump receipt any time debris or health hazards are removed from the property, even if the debris or hazards are removed per bid. The dump receipt must include the date of dumping, the address of the property from which the debris was removed, the number of cubic yards dumped, a description of the debris dumped, and the means of disposal. When debris is dumped at a dump facility or picked up by a disposal company, you must provide the name, address, and phone number of the facility or company.
Dump receipt information must be sent with the contractor's update, invoice, and photos for processing.
Thank you for your continued cooperation. If you have any questions regarding required receipts, please contact your Regional Coordinator. |
