HUD taps Marshall & Swift for REO Costing Data
December 11, 2009
Marshall & Swift (M&S), the leading worldwide provider of building cost data and estimating technology, and a MacDonald, Dettwiler and Associates (MDA) company, announced The Department of Housing and Urban Development’s (HUD), Office of Single Family Asset Management (SFAM) will use Marshall & Swift’s cost estimator data and solutions to provide repair, replacement, maintenance or improvement costs on Federal Housing Administration (FHA) housing units, as a pilot initiative.
Marshall & Swift’s cost estimator responds to the industry need to estimate repairs on the growing number of residential properties now in or entering the real estate foreclosure market. The subscription services establishes repair costs to increase the time for understanding repair needs in the overall real estate transaction. HUD’s decision to use Marshall & Swift’s data will help it simplify and ultimately eliminate the manual cost allowable updates routinely performed to develop and confirm costs for the industry across the United States and its territories on a consistent and totally verifiable basis.
“Marshall & Swift is proud to continue to provide support to the Federal Housing Administration (FHA) and the US Department of Housing and Urban Development’s (HUD), Office of Single Family Asset Management (SFAM),” said Salil Donde, CEO, MSB. “The selection of Marshall & Swift’s industry leading total component database, offers defendable repair cost estimations in the fifty states and territories, and will streamline validating costs for residential property repair and preservation.”
“Marshall & Swift’s objective third-party information will provide a conduit for the agency and industry to work more closely with each other and reduce unneeded time, costs and expenses associated with the protection and preservation of assets,” said Donde.
About Marshall & Swift
Marshall & Swift, an MDA company, has been a leading supplier of residential and commercial data for appraisal, assessor and property maintenance industries for more than 75 years. For more information, please contact Jim Adams at 800.806.0016 x 2831, email jim.adams@msbinfo.com or Marshall & Swift’s website at www.marshallswift.com.
About MacDonald, Dettwiler and Associates (MDA)
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision-making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,300 people in locations across the United States, the United Kingdom, and Canada. MDA’s common shares trade on the Toronto Stock Exchange under the symbol TSX: MDA.
Contact us to learn how MSB can provide your company with an extreme competitive advantage and improve your bottom line.