Craig Karnes

Craig Karnes serves as Director of the M&M Acquisition Center within the Department of Housing and Urban Development’s Office of the Chief Procurement Officer, overseeing the end-to-end procurement lifecycle for real estate and property management services critical to HUD’s mission of safeguarding federally held residential assets. He leads the acquisition of services related to the disposition, maintenance, and valuation of real estate owned (REO) properties, ensuring compliance with federal asset management standards and operational efficiency across field-level property operations. His portfolio includes contracts for property management, real estate brokerage, environmental assessments, and janitorial support, all aligned with HUD’s strategic goal of maximizing asset recovery and minimizing holding costs. Karnes collaborates with a diverse ecosystem of contractors specializing in residential property management, real estate brokerage, and environmental consulting services. While no single vendor dominates his acquisition portfolio, he maintains consistent relationships with firms possessing proven expertise in federal REO asset handling, including those with experience in HUD-specific compliance frameworks and field-based property operations. His contracting approach emphasizes performance-based outcomes, clear service-level expectations, and vendor accountability in managing geographically dispersed assets. His procurement patterns reflect a strong preference for open competition, with 92.3% of awards issued under non-set-aside conditions, indicating a focus on broad market participation and value-driven sourcing. However, he actively supports small business participation through targeted 8(a) competed awards, accounting for 7.7% of his contract activity, demonstrating a balanced commitment to socioeconomic goals without compromising acquisition efficiency. Karnes’s primary procurement focus centers on NAICS 531311 (Residential Property Managers) and 531210 (Real Estate Agents and Brokers), reflecting his core mission of managing HUD’s REO inventory. He also routinely procures services under NAICS 522310 (Mortgage Loan Brokers), 541620 (Environmental Consulting), and 561720 (Janitorial Services), underscoring his technical expertise in integrated property lifecycle management—from valuation and marketing to maintenance and environmental remediation—ensuring federally owned assets are stewarded in compliance with national housing policy.