In November, Fannie Mae announced that mortgage servicers would be reimbursed for using clear boarding instead of plywood when securing houses that were in pre-foreclosure. That announcement was not retroactive, meaning it only applied to new pre-foreclosures. But that’s not the case anymore, as Fannie Mae announced this week that it is moving away from plywood entirely.
As part of a continuing effort to fight blight and the negative effects that an abandoned house with boarded-up windows can have on a neighborhood, Fannie Mae will allow mortgage servicers to use clear boarding instead of plywood on vacant homes in pre-foreclosure.
When I saw the SecureView product I fell in love with it — I knew it was the answer we needed to help address community blight. I’ve always been against boarding with plywood, but we did it because we had no choice — it was the only thing out there.
The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.
For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.