Last week, DS News was sad to report the death of industry icon Robert Klein, Founder and Chairman of Safeguard Properties. Under Klein’s stewardship, Safeguard grew from its humble beginnings as a two-man operation in a basement office into a ...
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The GSE no longer allows plywood to be used on homes in preforeclosure, however, this rule does not apply to Fannie Mae’s REO properties. As of March 29, servicers have 90 days to re-glaze/repair or clear board all unsecured and previously plywood boarded windows. Additionally, Fannie Mae will allow servicers seven days to secure a property after it has been found vacant, by re-glazing/repairing or clear boarding.
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The progress that clear boarding has made over the last few years when it comes to replacing plywood as the go-to method for securing vacant homes has been steadily picking up steam. Now, that progress appears to have kicked into overdrive.
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