HUD PEMCO refers to the HUD-owned properties being made available for purchase through PEMCO, Ltd. A Hawaii-based company established in 1984, PEMCO is now a fully-grown real estate management firm that has achieved spectacular successes in asset management and marketing and sales of residential properties. It has been assigned as one of the few contractors that act as asset managers for properties that have been foreclosed on FHA-insured mortgages and are now owned by the US Department of Housing and Urban Development.
Under FHA Management and Marketing Structure – M&M III, asset managers are made responsible for the marketing and sale of REO properties held by HUD. There may be more than one asset managers providing services for a particular geographical area. For example, California is served by PEMCO and BLB Resources and North Carolina by PEMCO, Ofori, and Home Telos. The buyer must contact the real estate agent or broker assigned for selling the property on the list. These agents or brokers are associated with one or the other asset manager serving the locality.
HUD PEMCO Forms
There may be different HUD PEMCO Forms for different contract areas. These forms and contract packages may also vary according to the type of the buyer, for example owner-occupant, investor, GNND, approved non-profits and local government. One might also need an extension request form, a contract cancellation form, or a vandalism form. Utility connection forms for asset management specialists, A2Z field services and cityside management may also be required.
PEMCO has five contract areas, which fall under the jurisdictions of three HUD Homeownership Centers (HOCs). These are as follows:
| States |
Contract Areas |
HUD HOC |
| Illinois, Indiana, Kentucky,
North Carolina,
South Carolina, Tennessee |
1A |
Atlanta |
| Alabama, Florida, Georgia,
Mississippi, Puerto Rico,
Virgin Islands |
2A |
Atlanta |
| Colorado, New Mexico, Utah,
North Texas |
1D |
Denver |
| Arkansas, Kansas, Louisiana,
Montana, Oklahoma, South Texas |
2D |
Denver |
| Alaska, California, Hawaii,
Oregon, Washington, North Marianas,
Guam, American Samoa |
2S |
Santa Ana |
One should submit their forms in the PEMCO office located in the respective HOC area. Here are the complete mailing addresses for each of these offices.
Within Atlanta HOC:
3525 Piedmont Rd. N.E.
Bldg. 5, Ste. 310
Atlanta, GA 30305
Phone: 404.995.7111
Within Santa Ana HOC:
1601 Response Rd
Ste. 260
Sacramento, CA 95815
Phone Number: 916.927.7313
Within Denver HOC:
4500 Cherry Creek Drive South Suite 410
Glendale, CO 80246
Telephone: 303.300.1400
Website: www.hudpemco.com
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