USDA awards $232M for nationwide property preservation and REO services for single-family direct loan portfolio
Contract Overview
Contract Amount: $232,260,655 ($232.3M)
Contractor: Dawson's Realty & Mortgages, Inc.
Awarding Agency: Department of Agriculture
Start Date: 2023-06-20
End Date: 2026-06-30
Sector: Other
Official Description: NDMS SAMPLE TASK ORDER FOR NON-PERSONAL SERVICES TO PROVIDE NATIONWIDE POST ACCELERATION DEFAULT, PROPERTY PRESERVATION AND REAL ESTATE OWNED (REO) SERVICES ON THE RD SINGLE FAMILY DIRECT LOAN PORTFOLIO.
Plain-Language Summary
Department of Agriculture obligated $232.3 million to DAWSON'S REALTY & MORTGAGES, INC. for work described as: NDMS SAMPLE TASK ORDER FOR NON-PERSONAL SERVICES TO PROVIDE NATIONWIDE POST ACCELERATION DEFAULT, PROPERTY PRESERVATION AND REAL ESTATE OWNED (REO) SERVICES ON THE RD SINGLE FAMILY DIRECT LOAN PORTFOLIO. Key points: 1. Significant contract value for nationwide property management services. 2. Competition details are not readily available for this specific task order. 3. Potential risks include service quality variations across a wide geographic area.
Value Assessment
Rating: good
The contract value of over $232 million is substantial, indicating a significant need for these services. The duration of the award suggests a consistent requirement for property maintenance and disposition.
Cost Per Unit: N/A
Competition Analysis
Competition Level: unknown
The award type is a delivery order, but the specific contracting method (e.g., full and open competition, sole-source) is not detailed in the provided data. Further information would be needed to assess the competitive landscape.
Taxpayer Impact: Taxpayer funds are being utilized for the management of distressed single-family properties within the USDA's direct loan portfolio.
Public Impact
Ensures the upkeep of properties associated with USDA's direct loan program. Aids in managing the disposition of real estate owned (REO) properties. Supports the stability of the single-family housing market by maintaining property conditions.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Ensuring consistent service quality across diverse geographic regions.
- Monitoring contractor performance to meet program objectives.
- Managing potential cost overruns in property preservation and maintenance.
Positive Signals
- Addresses a critical need for property management within a federal loan program.
- Provides a structured approach to handling REO properties.
- Supports the long-term health of the USDA's direct loan portfolio.
Sector Analysis
This contract falls within the real estate services sector, specifically focusing on property preservation and management for government-backed loan portfolios. It addresses the operational needs of managing distressed assets.
Small Business Impact
The provided data indicates that small business participation was not a specific set-aside for this award. Further investigation would be needed to determine if small businesses were involved as subcontractors.
Oversight & Accountability
Oversight will be crucial to ensure the contractor, DAWSON'S REALTY & MORTGAGES, INC., adheres to service level agreements and maintains property standards nationwide. Regular performance reviews by the Rural Housing Service are expected.
Related Government Programs
- NDMS Sample Task Order
- Nationwide Post Acceleration Default Services
- Property Preservation Services
- REO Services
Risk Flags
- Geographic coverage challenges
- Service quality consistency
- Contractor performance monitoring
Tags
federal-spending, usda, rural-housing-service, property-management, real-estate-owned, loan-portfolio, delivery-order, nationwide-services
Frequently Asked Questions
What is this federal contract paying for?
Department of Agriculture awarded $232.3 million to DAWSON'S REALTY & MORTGAGES, INC.. NDMS SAMPLE TASK ORDER FOR NON-PERSONAL SERVICES TO PROVIDE NATIONWIDE POST ACCELERATION DEFAULT, PROPERTY PRESERVATION AND REAL ESTATE OWNED (REO) SERVICES ON THE RD SINGLE FAMILY DIRECT LOAN PORTFOLIO.
Who is the contractor on this award?
The obligated recipient is DAWSON'S REALTY & MORTGAGES, INC..
Which agency awarded this contract?
Awarding agency: Department of Agriculture (Rural Housing Service).
What is the total obligated amount?
The obligated amount is $232.3 million.
What is the period of performance?
Start: 2023-06-20. End: 2026-06-30.
Analysis insight 1
The contract aims to mitigate losses associated with defaulted single-family direct loans.
Analysis insight 2
Effective property preservation can enhance the marketability and value of REO assets.
Analysis insight 3
The nationwide scope implies a need for robust logistical and quality control mechanisms.