Asset Management

Overview

• Monitors mortgagor compliance with all applicable corporation legal documents, regulations and program requirements and policies as approved by the Board of Directors and LHC procedures.
• Performs a periodic assessment of each property in the areas of management, physical property condition, and financial viability.
  
• Determines the level of performance of the property based on information received, including financials and site/unit observations, inspections and, when applicable, reviews by HUD.
  
• Monitors and evaluates properties according to performance. Properties experiencing certain issues of concern may be placed on a watch list as a higher priority for monitoring.
  
• Maintains the watch list to focus staffing resources on properties experiencing some level of distress in order to provide owners/mortgagors with options and resources to improve and stabilize the property.

Suspension and Debarment

As a recipient of federal and state funds, the LHC has an obligation to ensure that those funds are used as intended. The corporation takes that responsibility very seriously, and in our desire to maintain the highest level of program integrity, we make every attempt to ensure that the individuals, agencies, or organizations that participate in these programs operate in an honest and ethical manner. To fulfill this duty, the corporation should have the discretion to suspend or debar individuals, companies or other entities which fail to carry out obligations in accordance with all rules, statutes and best practice standards.

At its sole option and discretion, the LHC may elect to impose suspensions or debarments on an individual and/or an organization doing business with the corporation. Suspensions or debarments imposed upon individuals may be imposed either in conjunction with, in lieu of, or independently of suspensions imposed on organizations. Also, the corporation may elect to impose suspensions or debarments on individuals and/or organizations employed or utilized by an organization doing business with the corporation (i.e. architects, accountants, attorneys, consultants, engineers, contractors, subcontractors, etc.).