REO Preservation and Protection Cost Schedules for California

Maximum Allowable
1-Unit $1100.00
2-Unit $1250.00
3-Unit $1400.00
4-Unit $1550.00
Note: If a property is located in a state where winterization is required, and the property has hot water heat, add $250/unit.
  
Property Inspection
Occupancy Inspection (Exterior); add’l units $10.00 $20.00
Initial Vacant Property Inspection (Interior); add’l units $30.00 $35.00
Vacant Property Inspection (On-Going); add’l units $25.00 $30.00
Variations
(Los Angeles) Properties should be inspected twice per week, year-round in the following zip codes: 90001, 90002, 90003, 90220, and 90221.
  
Lock Change/Securing
Maximum Allowable Securing Fee $350.00
Secure Pool (sqft) $2.05/sq.ft.
Secure Pool Maximum Amount $1050.00
Secure One Door $40.00
Hot-Tub, Jacuzzi, or Spa $55.00
Variations
Do not cover pools. However, polls should be drained and secured according to the guidelines set forth on page 15.
  
Boarding
Boarding 1/2-inch (UI) $0.80
Boarding 5/8-inch (UI) $0.90
Boarding 3/4-inch (UI) $1.00
Screening (UI) $0.55
Variations
(Long Beach) Properties should be secured with window screens and security doors only. Do not use plywood boarding material to secure window openings. See diagrams and specifications on pages 28-29.
Debris Removal
Please see page 33 of ML 07-03 for Large Appliance, Pest Infestation and Tire Amounts
Per Cubic Yard $40.00
Maximum Allowable 1-Unit (12 cu yd.) $480.00
Maximum Allowable 2-Unit (15 cu yd.) $600.00
Maximum Allowable 3-Unit (18 cu yd.) $720.00
Maximum Allowable 4-Unit (21 cu yd.) $840.00
Vehicle Removal $120.00
Variations
(Los Angeles) Mortgagees are not to perform any interior debris removal except for those items considered to be health or safety hazards or where local code enforcement activity makes it necessary. Review file must be supported with a copy of a Notice of Violation, Abatement Order, or similar documentation. Anytime the local municipality issues a citation requiring clean up and debris removal, the mortgagee is responsible for completion of that requirement immediately.
(San Diego) Mortgagees are not to perform any interior debris removal except for those items considered to be health or safety hazards or where local code enforcement activity makes it necessary. Review file must be supported with a copy of a Notice of Violation, Abatement Order, or similar documentation. Anytime the local municipality issues a citation requiring clean up and debris removal, the mortgagee is responsible for completion of that requirement immediately.
Mortgagees are not to perform any interior debris removal without specific M&M contractor approval.
  
Yard Maintenance
Initial Cut up to 10,000 sq. ft. $100.00
Initial Cut 10,001 to 15,000 sq. ft. $120.00
Re-Cut up to 10,000 sq. ft. $95.00
Re-Cut 10,001 to 15,000 sq. ft. $115.00
Trim Shrub $45.00
Snow Removal $55.00
Variations
Grass should be cut year round. Properties with desert landscaping require only once a month weed removal are are reimbursed as a re-cut.
Winterization
Dry Heat 1-Unit $75.00
Dry Heat Additional Units (2-4 Units) $50.00
Steam Heat 1-Unit $130.00
Steam Heat Additional Units (2-4 Units) $90.00
Radiant Heat: Hot Water 1-Unit $460.00
Radiant Heat: Hot Water Additional Units (2-4 Units) $230.00
Variations
Winterize properties above 2, 000 feet only. However, heat systems will remain in shut down mode. Utilities are to remain off unless required to operate a sump pump. Turn off water at the street after winterization.
  
Photographs
Cost Limit Flat Fee (included in Maximum Allowable) $30.00