HUD Announces New Mortgagee Compliance Manager. The Department of Housing and Urban Development has hired Information System & Networks Corp. (ISN) as its new mortgagee compliance manager. ISN took over from Michaelson, Connor & Boul, which was awarded the first MCM contract in 2010, when HUD reorganized its Management and Marketing (M&M) I and II programs under a new M&M III. As mortgage compliance manager, MCB performed real estate acquisition-to-disposition servicers for HUD, among other things. ISN effectively took over Oct. 1, assuming all pre- and post-conveyance activities including the following: requests for more time to convey; processing of occupied conveyances; approval of reimbursable expenses for preservation and protection, particularly amount in excess of allowable P&P expenses (including Home Equity Conversion Mortgages); and requests to ...