For decades, the only choice servicers had when securing a vacant or abandoned property was plywood. Boarding up windows and doors with plywood was supposed to keep the asset safe, but the effect was often the opposite — the boarded-up home advertised vacancy, which invited looting and other criminal activity.
Now, a new alternative to plywood — polycarbonate boarding — promises to reverse the cycle of blight while better securing properties. Developed by SecureView in 2010, the battle against community blight got a huge shot in the arm as Fannie Mae announced that it would reimburse servicers for installing polycarbonate boarding in pre-foreclosure.
This one action could prove to be a game-changer for communities throughout the nation, reversing decades of blight. This white paper explores the real cost of boarding with plywood and what servicers need to know about Fannie Mae’s new policy.
Publisher: Community Blight Solutions
Date: February 2017