ORE Financial services, LLC

Scheduling of Custody

Validate

The Custody Analyst checks for the existence and validity of provided information:

1. Contact Information for DAFC or a real estate specialist or for a USMS contact assigned by either.

2. Legal Order 

   1. Preliminary Order of Forfeiture, or

   2. Final Order of Forfeiture, or

   3. Writ of Entry

(If the above documentation is missing, the COR is contacted to provide the missing information.)

When the required information is supplied, Validate CLIN

• (CLIN = 498423) Custody - $1350 [Rush Order / 7 Day Stabili $1800]

• (CLIN = 596416) Custody Reimbursables - $2500

Inquire (APN, Property Type, etc) about the property; May require updates to Track.

• Google Earth

• RealQuest website (1 login for ORE)

Make Contact

Contact and Schedule with teams to take physical custody:

• DAFC or Assigned USMS contact.

• Request assigned contact to provide you with a Custody Date and Time. Advise that Colliers is set up to accommodate the busy schedules of the USMS and can schedule a contractor for any time that will work for the USMS. Advise that Colliers needs at least 48 hours business days’ notice. (It is important to leave the choice of date and time to the USMS whenever possible)

• If the asset is known to be occupied:

  • Look in the Six Part File to see if a copy of an occupancy agreement is on file and if a prior lease is on file.

  • If no Occupancy agreement is on file, inquire with the USMS designated contact whether an occupancy agreement has been obtained. If one has been obtained, request a copy.

  • If no occupancy agreement has been obtained, and if USMS contact does not indicate that one is in progress, inquire with the contact if they will need Colliers to prepare one.

    • If USMS would like for Colliers to prepare an occupancy agreement:

      • If a prior lease is already in the Six Part File, confirm with USMS contact if the rent agreed to in the prior lease will be honored by the USMS. If so, use the information in the prior lease to create the occupancy agreement.

      • If no prior lease is on file, inquire with the USMS contact as to whether they have any information on the occupant that can be used to either contact the occupant, or create the occupancy agreement from.

      • If there is no prior information for the occupant, an occupancy agreement with the occupant information and rent amounts left blank can be provided. (case and address information not left blank)

• Once a date and time have been agreed upon, go to the Acquisition page in TRACK and enter the date in the Custody Date field under the Proprietary Information section.

*** PLEASE NOTE: IT IS IMPORTANT THAT THE DATE IN THE CUSTODY DATE FIELD IN TRACK IS THE SAME AS THE PHYSICAL CUSTODY DATE. ***

Scheduling with Vendor

• Once USMS has provided their preferred date and time, Contact National Vendor to place order. (NFR, Sand Castle, Safeguard, etc)

  1. Log into vendor website to create/place an order. Our “CATS ID” is referred to as “Loan Number” in most vendor systems. Create the Asset.

  2. Place Order (Date & Time, USMS contact, review of property, special instructions, etc)

• Provide Vendor contact to designated USMS contact prior to custody action.

Notify Colliers Customer Service Department of the Custody Date. Make sure that they are kept abreast of any changes to Custody Date.