HomeSteps utilizes the services of third-party vendors, such as general contractors and preservation and maintenance vendors, in the REO disposition process.
The requirements for each type of vendor will vary based on the services needed by HomeSteps, but generally include:
- Proof of valid license(s), as required by federal, state or local laws.
- General Liability Insurance coverage, $1,000,000 minimum.
- Workers Compensation Insurance, $500,000 minimum
- Financially stable and able to carry repair costs for 30 days before reimbursement.
- Any special certifications necessary to provide some services, such as EPA lead based paint remediation certification.
- Sufficient controls to ensure that all timelines, communications and quality meet HomeSteps guidelines.
If you are interested in becoming a HomeSteps vendor, please complete the Vendor Application Form and register as a prospective vendor. Once HomeSteps determines there is a business need to expand our network, we will use the prospective vendor database to identify all vendors registered in the identified market area.
- To see where HomeSteps is currently sourcing for general contractors, view our current general contractor sourcing list.
- For some vendor types, HomeSteps uses a structured RFP process for selection. Prospective vendors still need to complete the Vendor Application Form. View a list of current RFPs.
Please note that completing the Vendor Application Form does not guarantee that you will be selected to become a HomeSteps vendor.