VA Industry Day Presentation Real Estate Owned (REO).pdf
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- Solicitation number
- 36C10X26Q0218
About this file
This document is an Industry Day presentation for the VA Real Estate Owned (REO) Program, held on August 12, 2026, by the Department of Veterans Affairs' Loan Guaranty Service and Veterans Benefits Administration.
The VA REO program, initiated in 2003 following an A-176 Study, manages the disposal of properties acquired through foreclosure proceedings. The program has been administered by three primary contractors—Ocwen, Bank of America, and the current contractor, Vendor Resource Management—and is managed by the Loan Management/Property Management office in Nashville, Tennessee. The primary objectives are to sell VA-acquired properties for the highest possible net return on investment in the shortest timeframe while ensuring accountability and fiscal responsibility in protecting the interests of the Secretary of Veterans Affairs. The current inventory as of July 31, 2026, consists of 8,016 properties across multiple statuses: Pre-List (29.97%), Eviction (21.87%), Listed (20.85%), Closing (16.89%), Other (6.59%), and Redemption (3.84%). The top ten states represent 4,340 properties, with Texas comprising 25.62% of this concentration, followed by Florida (15.97%), Georgia (11.47%), and California (8.34%).
The scope of work requires the service provider to acquire marketable title and submit complete title packages to the National Property Guardian (NPG) if required, obtain flood hazard determinations for each property, identify testing plans for system changes, manage property preservation and maintenance, handle disaster-related rental management if required, advance payments for taxes and reimbursable expenses, and submit invoices within 60 calendar days of final disposition. Properties may be marketed and sold for cash prior to receipt of an acceptable title opinion using a quit claim deed or deed without warranty. Compensation includes firm fixed-price fees for Property Preservation (PPF) and Management and Marketing (MMF). A critical requirement is that offshore customer service is prohibited. For complete requirements, the Performance Work Statement (PWS) should be consulted.
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Text version
VA Real Estate Owned Requirement Information Session
• Loan Guaranty Service
• Veterans Benefits Administration
• Industry Day
• August 12, 2026
Agenda
•VA Real Estate Owned Program
* REO Background
* Program Objectives
* Scope of work
* Notes
•Questions
Real Estate Owned Background
• The VA REO program started in 2003 due to an A-176 Study
• There have been three primary contractors since inception:
1. Ocwen
2. Bank of America
3. Vendor Resource Management, current contractor
• Program is managed and administered by the Loan Management / Property Management office in Nashville TN.
Program Objectives
VA requires that the Service Provider make prudent and appropriate business decisions that serve the interests of the VA and adhere to the constraints of this procurement and all appropriate laws and regulations. The primary objectives are:
1. Sell VA-acquired properties for the highest possible net return on VA’s investment in the shortest amount of time.
2. Ensure accountability and fiscal responsibility for all activities and protect the interests of the
Secretary of Veterans Affairs.
Scope of Work
Identify in writing a thorough test plan for any project involving system changes and provide VA a copy of the plan for approval prior to implementation.
Obtain flood hazard determination for each property for sales disclosure.
All Government obligations are timely verified and paid.
In the event of disaster, the VA may require the Service Provider to offer VA properties for rental. In this event, the Service Provider must manage those rentals. The Service Provider must maintain an updated list of habitable properties, as defined by VA that could potentially be used as rental.
The Service Provider must acquire title, submit a complete title package to NPG, if required, in accordance with the schedule that will be provided upon award; and proactively obtaining NPG’s opinion, if required, to gain marketable title.
Scope of Work, Page 2
Properties may be marketed and sold for cash prior to receipt of an acceptable title opinion with a quit claim deed or deed without warranty.
Advance payments for taxes (including penalty and interest) and other reimbursable expenses.
Submit all invoices within 60 calendar days of (but not before) final disposition for REO expenses and date of service completed for all other expenses in a VA-approved electronic format.
Inventory as of 07/31/2026
Inventory 7/31/2026 Count % Closing 1354 16.89% Eviction 1753 21.87% Listed 1671 20.85% Other 528 6.59% Pre-List 2402 29.97% Redemption 308 3.84% Grand Total 8016 100.00%
VA does not guarantee the volume specified in the following table.
Top 10 States as of 07/31/2026
State - Top 10 count %
TX 1112 25.62%
FL 693 15.97%
GA 498 11.47%
CA 362 8.34%
AL 303 6.98%
NC 301 6.94%
CO 295 6.80%
AZ 269 6.20%
VA 257 5.92%
MI 250 5.76%
Grand Total 4340 100.00%
VA does not guarantee the volume specified in the following table.
Notes
Firm Fixed Price
1. Property Preservation Fee (PPF) This item includes but is not limited to initial inspection, initial grass cut, ready to show cleaning, lock changes, re-key one door, bi-weekly inspections, salting for ice storms, recurring janitorial maid refresh, for a full listing refer to the PWS
2. Management and Marketing Fee (MMF)
Questions
Offshore customer service is prohibited.
For a more complete view of the requirements refer to the PWS.
| Slide 1: VA Real Estate Owned Requirement Information Session |
| Slide 2: Agenda |
| Slide 3: Real Estate Owned Background |
| Slide 4: Program Objectives |
| Slide 5: Scope of Work |
| Slide 6: Scope of Work, Page 2 |
| Slide 7: Inventory as of 07/31/2026 |
| Slide 8: Top 10 States as of 07/31/2026 |
| Slide 9: Notes |
| Slide 10: Questions |
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