CONSTRUCTION ESCROW ADMINISTRATION & DISBURSEMENT
Client’s Name: U.S. Department of Housing and Urban Development (HUD) Office of Affordable Housing Preservation (OAHP)
Period of Performance: March 2003 – Present
Description of Services Provided: Signet holds the escrow funds provided by HUD/OAHP in specialized bank accounts, while overseeing inspections of completed construction and repair work on multifamily properties, disbursing project escrow funds upon merit and currently administering nearly 200 separate property escrow accounts approaching $60 million in total managed funds under direct fiscal control. As HUD’s fiduciary, Signet enters into Rehabilitation Escrow Deposit Agreements with property owners throughout the United States. Signet’s fundamental responsibility is to assure all terms and conditions of these agreements are met to directing and managing the physical inspections and confirming completed work has been done in compliance with all agreement provisions, Signet maintains internal fiscal controls to ensure all deposited funds are fully protected – including safeguards against business failures by the depositories. The results of a HUD audit conducted during June 2008 were exemplary.
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Signet Partners
7400 E. Crestline Circle
Suite 150
Greenwood Village, CO 80111
Phone: 303.773.3330
Toll Free: 888.901.3330
Fax: 303.773.6256
Email: info@signetpartners.com
