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.
Eight years after we began recognizing women for their influential work in the expanding housing and mortgage finance ecosystem, a traditionally male-dominated field, our Women of Influence list is bigger and better than ever! This year, we honor 85 women who are making lasting achievements in each sector of the housing economy. Read on to learn more about these accomplished women and the strides they are making in their industry segments.
The financial world at large is experimenting with changing its workforce culture in ways not fathomable 10 years ago. For example, in 2011, the dress code for female workers at UBS came to light with unflattering results. In it, the Swiss bank instructed female employees on not just how to dress and how to smell, but also preached the importance for ladies to apply lotion after taking showers. Fast forward to today and fellow Swiss bank, Credit Suisse has now created an official role to boost equal opportunities and create a fair treatment environment. Has the American mortgage industry made similar progress?
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.