Leist Warner Files Lawsuit Against Safeguard Properties

Leist Warner has filed a class action lawsuit on behalf of all persons who allege that they were the victim of improper actions by Safeguard Properties LLC. The complaint alleges that, “Plaintiff and Class Members were legally residing in their homes when Safeguard invaded the sanctity of their homes, destroyed their property, and attempted to forbid them from reentering their homes.” –

See more at: http://www.leistwarner.com/archives/caseandinvestigation/lawsuit-safeguard-properties#sthash.q2Etgcr7.dpuf Continue Reading

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Who's Spying On You?

The Search Engine That Does Not Spy On You

Originating with Yoni Heisler of BGR and republished by Yahoo! Tech, non-spying search engine useage is skyrocketing:

 
When it comes to search, there’s really been only one name that has mattered for the last 15 ears: Google. And though Google remains the top search engine on the planet by a wide, wide margin, that’s not to say that there isn’t any competition. There is, of course, Microsoft’s Bing. But also making strides in search is DuckDuckGo, a search engine which prides itself on not tracking users and valuing privacy and pertinent search results above all else. Continue Reading

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Health and Safety Hazards

VA Debris Removal

b. Debris Removal. Generally, cleanup of the property or removal of debris will be the responsibility of VA, once custody of the property is transferred following a foreclosure sale or deed-in-lieu. However, holders are required to remove unhealthy or hazardous materials from the exterior and interior of properties prior to transferring custody of vacant properties and must adhere to the local municipal health and safety requirements regarding the proper disposal of said materials. For clarification, examples of health and safety hazards include, but are not limited to, highly flammable chemicals, decaying food or other organic matter, dead animals, broken glass or other sharp objects, and large quantities of paint or paint products. Continue Reading

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Securing Above Ground Swimming Pools For VA

(4) Securing Above Ground Swimming Pools.  

If the property has an above ground pool in good condition (i.e., built-up with decking or other infrastructure that will support a pool cover) treat it as an in-ground pool. Above ground pools that are in poor condition, or that cannot be secured, should be removed. Mr P. Says: If an above ground pool is removed, the earth beneath the pool must be leveled and cleaned of all debris. Continue Reading

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Re-Securing VA Properties

(1) Re-securing the property. Re-securing the property is reimbursable, provided the initial securing of the property has been violated (no longer effective). Although the re-securing fee maximum allowable amount is $0.00, VA will review re-securing fees on appeal, at which time documentation to evidence the actual cost, date, and description of work completed must be submitted to justify re-securing the property. Mr P. Says: Although VA has set a re-securing fee of $0.00, contractors should fully document and bid any re-securing needed. If warranted, the bid would probably be approved. Continue Reading

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VA Circular 26-09-12 – Veterans Benefits Administration

8. Reimbursement. Subject to the maximum guaranty payable, VA reimburses holders via the claim under guaranty for property inspections and preservation costs incurred up to the date of loan termination, or the expiration of 210 days from the due date of the last paid installment plus the foreclosure timeframe for that state, whichever is earlier. All reimbursements are subject to the maximum allowable amounts, but actual expenses in excess of the maximum allowable amount may be appealed. It is not the intent of VA to attempt to regulate the amounts that servicers may pay for the services performed, but to standardize the reasonable maximum amount that VA reimburses for such services. Continue Reading

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VA Property Preservation Requirements For Insurance

7. Risk for Loss or Damage. Under 38 CFR 36.4823, holders bear responsibility for any loss due to damage or destruction of the property or personal injury sustained in respect to such property from the date of acquisition by the holder to the date such risk is assumed by VA. Risk is assumed by VA on the day successful electronic acceptance of the “Transfer of Custody” event is indicated in the VALERI application. If the “Transfer of Custody” event is rejected, risk remains with the holder. Continue Reading

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VA Interior Inspections

5. Interior Inspections. Following a determination that a property has been abandoned, a visual “exterior only” inspection may not reveal any emergency repairs or environmental/fire hazards, which, if not addressed at once, may pose damage to the property. Early detection of problems is critical to minimize loss in the event the property is acquired by the holder and possibly conveyed to VA. Therefore, subsequent inspection reports on abandoned properties must include completion of interior inspections. Continue Reading

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Veterans Benefits Administration

VA Property Preservation Guidelines

The VA Property Preservation Guidelines has been added to the ebook download library. In the past, VA Regional Loan Centers provided annual releases detailing the requirements for property preservation and tables of maximum reimbursable amounts for services in their areas of jurisdiction. With the transition to the VA Loan Electronic Reporting Interface (VALERI) environment and to a nationwide jurisdiction, this is no longer practical. Therefore, this circular is issued to provide nationwide guidance and a single property preservation fee schedule. Download VA Guidelines Continue Reading

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DBO Commissioner Owen Names FIS as Independent Auditor

JAN LYNN OWEN
Commissioner of Business Oversight

For Immediate Release
June 9, 2015

Contact: Tom Dresslar
(916) 327-5275
DBO Commissioner Owen Names FIS as Independent Auditor for Ocwen Loan Servicing
FIS to Assess Servicing Practices, Compliance with Consumer Protection Laws
SACRAMENTO – Department of Business Oversight (DBO) Commissioner Jan Lynn Owen today named Fidelity Information Services (FIS) as the independent, third-party auditor that will review the California mortgage servicing operations of Ocwen Loan Servicing, LLC.  FIS was chosen from an initial field of 31 candidates. “The DBO has a duty to ensure its licensees fully comply with laws and regulations designed to protect California homeowners,” said Owen.  “FIS will help us fulfill that duty with respect to Ocwen.”

The auditor position was created under a Jan. 23 consent order reached between Ocwen and the DBO.  The settlement resolved an enforcement action brought by the DBO over Ocwen’s failure for more than a year to provide loan file information the DBO needed to conduct a routine regulatory examination.  The settlement also required Ocwen to pay $2.5 million in penalties. As the independent auditor, FIS will have two main jobs.  One, it will examine a sample of loan files and report to the DBO on Ocwen’s compliance with the 2012 Homeowner Bill of Rights, the California Residential Mortgage Lending Act, and other state and federal laws and regulations. Continue Reading

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How To Find Good Property Preservation Companies To Work For

How To Find Good Companies To Work For

How To Find Good Companies To Work For
an ebook by Mr Preservation
Immediate PDF Download
$6.49

Most contractors are pretty good at what they do. Some contractors are outstanding at what they do. Normally, the outstanding contractors have gained that reputation because of their ability to turn out quality work and the ability to turn out quality work requires many talents, two of which are always close to the top of the chart in importance: focus and dedication. This manual was written for the contractor that is focused and dedicated to other portions of the business. Read it, understand it and assign your company research tasks to someone you trust. Continue Reading

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New Home Construction Draw Inspections

New Home Construction Draw Inspections
 

New Home Construction Draw Inspections are requested when a loan has been made for construction of a new home. In it’s most basic form, this inspection is a “Construction Draw Inspection” or “Construction Loan Inspection.”

These inspections are very important and the inspector must recognize the unique reporting requirements needed in order to satisfy both the lender and the borrower. The inspector’s duty is to report completion status of the home under construction as funding for the construction is received in “draws”, or payments, that normally occur only as certain work has been completed. Inspectors should be somewhat familiar with the basics of home construction but only to the extent that they to need to understand that foundation and underground work is normally the first step, framing the second, roofing, third and so on. Inspectors also should recognize that land clearing and grading, underground utility work and cleanup after construction are just a few of the “unseen” expenses that need to be taken into account when asked to report on percentage of completion. Continue Reading

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Vacant But Not Abandoned

Occupancy Inspections

Mortgage Field Services
Occupancy Inspections
Vacant But Not Abandoned
An occupancy inspection is issued in order for the field rep to visit the property and determine if it is occupied. If the property is occupied, the names and contact information for the occupants is requested for the report. It sounds a lot easier than it really is. Is the house occupied or vacant? To make matters worse, there are times when the exact same conditions results in one company wanting you to state “occupied” and another company would have you mark “vacant”. Continue Reading

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MADIGAN ANNOUNCES $1 MILLION SETTLEMENT WITH SAFEGUARD PROPERTIES

June 3, 2015

MADIGAN ANNOUNCES $1 MILLION SETTLEMENT WITH SAFEGUARD PROPERTIES
Homeowners Illegally Locked Out of Homes to Receive Restitution

Chicago — Attorney General Lisa Madigan today announced a $1 million settlement with Safeguard Properties LLC over allegations the company illegally locked Illinois residents out of their homes before a foreclosure was finalized. Under Madigan’s settlement, Safeguard, a Delaware corporation based in Ohio, must pay $1 million, nearly all of which will be paid to Illinois residents who filed complaints over Safeguard’s practices. Safeguard must also follow 40 operating standards in conducting inspections and other services relating to Illinois properties set by Madigan’s office to ensure homeowners’ rights are protected. Safeguard is the largest company in the country hired by mortgage lenders to determine whether homeowners in default or facing foreclosure are living in their homes. If a property is deemed vacant, Safeguard is responsible for securing and maintaining the property to ensure it does not lose value after it is foreclosed. Continue Reading

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