Olympus Broker Portal HUD Task Instructions

  1. AccessWhen you were assigned this property, you received the HPIR as an attachment and a link. Download and print the HPIR. The key code of the lock that was rekeyed by Field Services is on the HPIR. You need to have a lock smith cut keys for you to that code if this is your first time servicing a property with that specific code. You can also order additional keys from MF Supply at mfsupply.com. They are recognized by HUD as the official key making Supply Company. You will need to install your own lock box with all keys to any rekeyed locks, including pad locks, inside. You can set the lock box code to whatever you wish(we recommend they do not use “HUD” as the combo code) but please record the lock box combo on your PIR so we can put it in P260. If you change the code at any time you need to let us know.

All tasks should be uploaded as a single .pdf attachment. Please combine all documents into one .pdf attachment before uploading to complete a task.

  1. PIR

Take that HPIR to your inspection as a reference. The PCR may be found in Section 3 of the HPIR.

Complete a Property Inspection Report (PIR) form as Inspection type “Initial Inspection.” A blank copy of the PIR form can be found on the Resources page of the Olympus Broker Portal.

  • Complete all fields.
  • Box 6a and 6b must be answered “Yes.”
  • If Box 6c is “Yes,” this field must provide an explanation and photos to support explanation in PIR photo addendum.
  • Box 9a must be completed: is the property in a Ready to Show Condition (*see Ready to Show description)? If NO is checked, ADD comments to Box 11 related to property condition and describe what needs to be done by the FSM. Include photos of ALL variances/issues on the PIR Photo addendum.
  • Box 11 should includeLockbox codealong with additional item details, explanations, comments.
  • Box 12should include a signed and dated form. The inspector name must be legible. Electronic signatures are acceptable.

* Ready To Show Condition – A property is in Ready to Show Condition when it meets all the following requirements and must remain in Ready to Show Condition until the property closes and HUD is no longer responsible for its maintenance. Dwellings and structures must be free of debris, insect infestations, rodents, mammals and reptiles. Dwellings and structures must be free of all health and safety hazards and broken windows. Stairs and handrails must be secure and installed per local code and in a manner that conforms to the esthetics of the property; exposed nails and hooks are removed; exposed gas lines are capped; exposed electrical wires are capped and any broken or missing outlet and switch covers in easily accessible areas are covered. All shelves, cabinets, counter tops, appliances, plumbing fixtures including but not limited to toilets, bathtubs and showers, all windows, window sills, thresholds, mirrors, shower doors must be clean and the house must be free of bad odors. All floors must be cleaned and carpets vacuumed. Upon GTR direction, carpet and tack strip may be removed if condition impedes marketability. All graffiti, vulgarity and pornography must be covered in a professional manner.

All previous mortgagee servicing notices and signage must be removed. All light fixtures and ceiling fans must be clean and window coverings that do not add value to the property should be removed. Baseboards must be wiped clean and the house free of cobwebs. All repairs required to correct safety hazards and any approved repairs to be done prior to listing the property must be completed in order for the house to be in ready to show condition. The yard must be free of trash and debris; accumulated leaves and holes must be covered or filled. The grass must be cut and bushes trimmed in a professional manner. Limbs must be cut to a minimum 18” away from the roof and gutters must be free of visible debris and foliage. Snow must be removed from walkways and porches. Swimming pools must be properly secured and in accordance with local ordinance; wells, septic tanks, storm cellars and the like must be secured to protect the public. Safe access to all rooms must be provided at all times unless otherwise approved by the GTR.

  1. PIR Photo Addendum

Upload photos of the property to a photo addendum. A blank copy of the Photo Addendum form can be found on the Resources page of the Olympus Broker Portal.

Please include: Case#, Broker/Agent Name, and Property Address on each page of the photo addendum. Thefollowing photos should be DATE STAMPEDand labeled and are required for this task:

  • Front of subject
  • Street Scene
  • Address Verification
  • FSM sticker in window
  • Lockbox on front door
  • Each side of subject
  • Back of subject
  • Backyard
  • Interior Photo of each room
  • Photos of any problems, vandalism, damages, or deferred maintenance
  • One date stamped photograph of the sign in sheet – should be taken up close so all information is legible.

Make sure each picture is labeled. If you miss a label your PIR may not submit. If you miss a picture on the list or your pictures are not date stamped it will not submit or if it does, your task will be rejected.

  1. BPO

Complete a BPO form. A blank copy of the BPO form can be found on the Resources page of the Olympus Broker Portal.

  • Complete all fields.
  • If a listed or sold comparable is more than 6 months old, please provide an explanation in the comments section to support its use.
  • HOA information MUST be completed on all BPO’s or they will be rejected
  • Association Name
  • Name of Management Company – if different
  • Contact Name
  • Contact Phone No.
  • HOA Dues/Assessments
  1. BPO Photo Addendum

Upload photos of the property to a photo addendum. A blank copy of the Photo Addendum form can be found on the Resources page of the Olympus Broker Portal.

Please include: Case#, Broker/Agent Name, and Property Address on each page of the photo addendum. The following photos should be labeled and are required for this task:

  • Front of subject
  • Front of each of the three listed properties (MLS photos are acceptable)
  • Front of each of the three sold properties (MLS photos are acceptable)
  • Make sure to label each comp to correspond with your BPO, (i.e. Sold 1, Sold 2, Sold 3, etc.)
  1. RTL

Complete a Property Inspection Report (PIR) form as Inspection type “Ready to List Inspection.” A blank copy of the PIR form can be found on the Resources page of the Olympus Broker Portal.

  • Complete all fields.
  • Box 6a and 6b must be answered “Yes.”
  • Box 9a must be completed: is the property in a Ready to Show condition? If NO is checked, ADD comments to Box 11 related to ALL property conditions and describe what needs to be done by the FSM. Include photos of ALL variances/issues on the RTL Photo addendum.
  • Box 11 should include Lockbox code along with additional item details, explanations, comments.
  • Box 12 should include a signed and dated form. The inspector name must be legible. Electronic signatures are acceptable.
  • Any and all maintenance issues should be documented.If a maintenance issue has been reported before it should be documented on the RTL inspection reportwith the notation that it was previously reported.
  1. RTL Photo Addendum

Upload photos from your inspection report. A blank copy of the Photo Addendum form can be found on the Resources page of the Olympus Broker Portal.

Please include: Case#, Broker/Agent Name, and Property Address on each page of the Photo Addendum. These photos are your glamour shots that will appear on shouldNOT be date stamped. The following labeled photos are required for this task:

  • Front of subject
  • Address Verification
  • Interior Photos (minimum of 5)
  • Exterior Photos (minimum of 2), not counting the Front of Subject or Address Verification

In addition, your RTL photo addendum must include:

  • ALL maintenance issues, which must be documented and date stamped, including snow removal, vandalism, debris, trip hazards, active leaks, lawncare, any issue affecting the security of the property or access for authorized agents, as well as any other safety hazard or general maintenance issue.
  • One date stamped photograph of the sign in sheet – should be taken up close so all information is legible.
  1. Listing Agreement Executed

The Listing Agreement should be sent to you by e-mail. Confirm the information on the listing agreement is the same as what is published on Sign and date the Listing Agreement (electronic signatures are acceptable), then submit it.

  1. MLS Sheet

Enter the subject property into the local MLS and any corresponding MLS(s)to provide maximum exposure for the property. Verify the listing price is the approved listing price provided in the listing agreement. The bedroom, bath, square footage, price, and address information must match the information located on Should an address NOT match, please provide Tax Record to verify address. Upload this along with the MLS Sheet. The MLS will need to include 10 photos that you are going to use to market the home. The following items must be included in the MLS comments or remarks section:

  • Selling points that best advertise the property
  • Case Number
  • “HUD homes are Sold As Is”

If websites are not allowed, variations such as “To submit offers visit HUD Home Store” are permissible. You must provide a copy of the MLS by-laws prohibiting the use of websites or third parties each time you submit an MLS tearsheet if this verbiage is prohibited. MLS must state “Exclusive Agency.” MLS cannot mention “mold” or “radon.” If verbiage regarding “mold” or “radon” is needed it must ONLY read as “Evidence of Mold/Radon Not Remediated.” All other verbiage is not compliant with HUD policy and will be rejected. The following MLS Verbiage is NOT permissiblewhen describing the property: Foreclosure, Repo, or Re-Conveyance.

  1. Photo Front

Upload a photo of the front of the property in a photo addendum form. The photo should be date stamped and include the Listing Broker sign in the yard with a HUDHomeStore rider attached.

If yard signs are prohibited, please provide a copy of the HOA by-laws stating that signs are not permitted uploaded as a single .pdf attachment.

  1. Just Listed Cards (JLC)

The Resource page contains services for ordering name riders, post cards, making flyers and creating a virtual tour. You can use your own services but these are provided for your convenience. Please check them out!

On properties over $50,000, a minimum of 100 Just Listed Cards must be sent to the 100 residences closest to the subject property. A copy of the receipt (or a legible photo of the receipt) for the Just Listed Cards that verifies the address and amount ordered should be uploaded as a single PDF. If in-house equipment was used to print the 100 Just Listed Cards, then upload a document stating that your own service or equipment was used along with a copy of the Just Listed Card.

  1. Property Information Packet (PIP)

Upload the following 3 documents in a single PDF file:

  • Any receipts for flyer printing with: Case number, property address, number of copies printed, and the total cost to print (if applicable)
  • A date stamped photo of the FSM sign-in sheet and your flyer on the countertop
  • A copy of your flyer which contains the following information (minimum):
  • HUD Case Number
  • Address
  • Price
  • HUD Owned Property
  • Sold "As-Is"
  • Cross streets
  1. Virtual Tour

On properties with a list priceover $50,000, create a Virtual Tour of the property which positively markets the asset. Virtual tours must be in accordance with local, state, and federal laws (as well as any relevant advertising guidelines). Please submit a link which can be selected in order to view the virtual tour.

  1. Monthly Marketing Report (MMR)

Complete a MMR form.A blank copy of the MMR form can be found on the Resources page of the Olympus Broker Portal.

  • Complete all fields.
  • In the Recommended List Price explanation, provide enough detail to substantiate your price recommendation.
  • In the Comparable Listings and Sales comments, describe how this property is comparable, exceptional or distinctively different from the subject. You must provide new sold/listed comparable with each new MMR. If a listed or sold comparable is more than 6 months old, please provide an explanation in the comments section to support its use. You have unlimited characters in this field so be thorough.
  • In the "as is," "repaired," and "quick sale" fields, insert your estimate of the dollar amount of the sales price under each of those conditions.
  • Use the best and closest comparables you can find.
  • This is your opportunity to make a case for a change in price, if needed, so make sure you provide a quality product.
  • Put a new digital signature on each MMR form with the date of submission.
  1. RTC

Complete a Property Inspection Report (PIR) form as Inspection type “Ready to Close Inspection.” A blank copy of the PIR form can be found on the Resources page of the Olympus Broker Portal.

  • The inspection must be completed no sooner than 5 days of the scheduled closing date.
  • Complete all fields.
  • Box 6a and 6b must be answered “Yes.”
  • Box 10a and 10b must be completed. If Box 10b is marked NO, then list what is needed and provide photos to support list on the RTC Photo addendum.
  • Box 12 should include a signed and dated form. The inspector name must be legible. Electronic signatures are acceptable.
  • Make sure this is a complete and updated inventory of condition issues, appliances, electrical boxes, water heater, HVAC etc. We need to know what the status is prior to it being shown.
  1. RTC Photo Addendum

Upload photos of the property to a photo addendum. A blank copy of the Photo Addendum form can be found on the Resources page of the Olympus Broker Portal.

Please include: Case#, Broker/Agent Name, and Property Address on each page of the photo addendum. The following photos should be DATE STAMPED and labeled and are required for this task:

  • Front of subject
  • Address Verification
  • (4) Interior Photos
  • Any and all condition items, regardless if they have already been reported or not.
  • One date stamped photograph of the sign in sheet – should be taken up close so all information is legible.
  1. HUD Weekly Inspection Mandatory! Create a check list of items for anyone inspecting to use. This should include, doors and windows secured, noted condition issues, sign, sign in sheet, debris etc. Take at least 3 or 4 date stamped pictures of the property. Utility boxes, front, back, water heater, etc. are suggested. If there is an issue that arises, your proof of inspection documentation will be requested and if you don’t have it, you put yourself andthe Asset Managerat risk. This is not a task. Keep this for your records in case it is called upon. Failure to provide this information when asked is subject for loss of assignments or termination.

18. Ownership & Encumbrance (O&E) Report

Provide an ownership and encumbrance (“O&E”) report. The O&E report shall reveal Listing Broker’s investigative results of property ownership records, property location, and provide a legal description and share details of the last and prior sale. In addition, an O&E search can include details of property deeds, property tax assessment and lien information. As these reports vary by state and title company, the below are examples of items that should be included in the report.

•Judgments and Encumbrances;

•Current tax status;

•Legal Description from Purchase Money Deed (Current Owner, Vesting type, Manner of title, etc.);

•Current deed status of all mortgages/deeds of trust;

•Open Mortgages/Deed of Trust, Last Assignment of record, Subordination, Modification and all other instruments pertaining to Mortgage/Deed of Trust;

•Real Estate and Property Taxes;

•Open judgments and Tax liens; UCC Liens

•Current assessment of records.

The main objective is to assist in identifying recorded liens and encumbrances prior to listing. All issues found on the reports should be identified and a note sent to MMREM to alert and advise of any potential issues. These reports are to be provided at Listing Broker’s expense as part of Listing Broker’s commissions with no pass-through expenses allowed. O&E reports will be due within ninety- six (96) hours of property assignment

  1. Earnest Money Deposit

Once a bid has been accepted for a property, you are responsible for receiving/holding the original earnest money deposit from the Selling agent until the contract is executed. No later than 2 business days of notification the sales contract has been executed, you are responsible for delivering the original EM deposit to the Buyer Select Closing Agent (BSCA). Completion of this task requires PROOF the EM has been delivered to the BSCA (i.e. a copy of the overnight delivery label to the BSCA or a signed/dated receipt from the BSCA acknowledging receipt of the EM).