Form Sams 1111 A PDF Details

In the intricate world of real estate transactions involving the U.S. Department of Housing and Urban Development (HUD), the SAMS 1111 A form stands out as a pivotal document, facilitating a streamlined process for the management of acquired single-family properties. This form, which is a key part of the Single Family Acquired Asset Management System (SAMS), serves as a Selling Broker Certification, ensuring that brokers adhere to HUD's policies and procedures. By completing this form, brokers attest to their understanding and agreement to abide by HUD's earnest money policy, an essential aspect of the financial transactions in HUD's property disposition program. Furthermore, the form underlines the broker's commitment to non-discrimination, aligning with federal fair housing laws, and mandates the inclusion of the Equal Housing Opportunity logo in advertising. The usage of this form, which requires approximately 12 minutes to complete, entails the collection and processing of information necessary for HUD to record financial transactions related to the sale of HUD homes, ultimately aiming for efficient asset management and adherence to sound financial management practices. Additionally, the form highlights the importance of privacy, with strict guidelines on the collection and use of personal and sensitive information, including Social Security Numbers, underscoring HUD's commitment to privacy and legal compliance. Completing and submitting the SAMS 1111 A form to the designated HUD Homeownership Center is a crucial step for brokers aiming to participate in the sale of HUD-owned properties, reflecting a broader effort to maintain integrity, transparency, and fairness in the housing market.

QuestionAnswer
Form NameForm Sams 1111 A
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other names1111asam 1111asam form

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Single Family Acquired Asset Management System (SAMS)

Selling Broker Certification

U.S. Department of Housing

and Urban Development

Office of Housing

Federal Housing Commissioner

Public reporting burden for this collection of information is estimated to average 12 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information.

This information enables HUD to record and process financial transactions in its automated Single Family Acquired Asset Management System (SAMS) to dispose of acquired single-family properties. HUD reimburses M & M Contractors for their services in maintaining, marketing, and selling HUD homes, and HUD collects funds associated with the sales of these properties. The information enables HUD to create and maintain sound financial management practices and effective internal controls over the property disposition program. A response is required to obtain or maintain a benefit.

Privacy Act Statement. The Department of Housing & Urban Development (HUD) is authorized to collect the information on this form by the U.S. Housing Act of 1937, as amended. The Housing & Community Development Act of 1987, 42 U.S.C. 3543 authorizes HUD to collect Social Security Numbers (SSN). The information is being used as vendor reference information, minority data collection, payment/remittance instructions and proof of business viability. The SSN is used as a unique identifier. HUD may disclose this information to Federal, State and local agencies when relevant to civil, criminal, or regulatory investigations and prosecutions. It will not be otherwise disclosed or released outside of HUD, except as required and permitted by law. Providing the SSN is mandatory. Failure to provide the information could result in a delay or rejection of your eligibility approval.

Instructions: Send completed form to local HUD HOC, Attn: Director, REO Division

Earnest Money Deposit

As a condition to participate in HUD's single family REO sales program, I agree to abide by the Department's earnest money policy.

Should HUD instruct me to collect earnest money deposits from prospective buyers, I agree to do so at the time the contract is written and, according to HUD's instructions, deposit such funds either in my escrow account (or client's trust account) or in such other manner as HUD may direct no later than the close of the next banking day; or forward such deposits to HUD with the contract.

I understand that I am fully responsible for any deposit accepted and placed in my escrow account (or client's trust account). I also understand that any deposit accepted and for- warded to HUD with a contract will only be in the form of a cashier's check, certified check, or money order with no termi- nation date or cancellation provision.

Earnest money deposits being held in my escrow account (or client's trust account) shall be accounted for at the sales closing, unless the contract is terminated. I agree to immediately comply with HUD's instructions for the ultimate disposition of each earnest money deposit.

I agree to fully explain to each purchaser, prior to a contract being written, HUD's earnest money forfeiture policy.

Broker's Signature (Required) & Date (mm/dd/yyyy)

X

Non-Discrimination

The undersigned broker participating in the sales of HUD-owned properties agrees that neither she/he nor her/his sales or rental personnel, employees or others authorized to act for her/him, in violation of Title VIII of the Civil Rights Act of 1968 (the "Fair Housing Act" Title VIII or Public Law 90-284) or Executive Order 11063, will decline to show or will discriminate in the sale or rental of any property now or hereafter listed with her/him.

It is further agreed that the undersigned will: (1) refrain from discrimination on the basis of race, color, creed, religion, sex, national origin, age or handicap in the sale or rental of property;

(2)instruct their staffs in the policies of nondiscrimination and all applicable local, State, and Federal fair housing laws; (3) prominently display the Fair Housing Poster in all offices in which sale and rental activity takes place; (4) use the HUD- approved Equal Housing Opportunity logo, slogan, or statement in all advertising in conformance with the Advertising Guide- lines for Fair Housing; (5) utilize any available minority media (in addition to other media that is used) when advertising HUD- owned properties; and (6) maintain a nondiscriminatory hiring policy in affirmatively recruiting from both minority and major- ity groups for staff.

Violation of any of the above provisions shall be subject to debarment procedures set forth in 24 CFR 24.

Broker's Signature & Date (mm/dd/yyyy)

X

I am a signatory to a voluntary affirmative marketing agreement between HUD and the local board named:

For this reason, I am exempt from signing the non-discrimination portion of this certification.

Broker's Name (Please print or type)

Telephone Number (include area code)

Broker's License Number

TIN/SSN

Company's Name & Mailing Address (include City, State, and Zip Code)

For HUD Use Only

NAID

This form is to be kept on file in the HUD HOC.

form SAMS-1111-A (03/2004)

Previous editions are obsolete

ref Handbook 4310.5

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