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

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

DBO Commissioner Owen Names FIS as Independent Auditor

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

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

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

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

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


June 3, 2015

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

NAMFS Webinar June 4, 2015 11:00EST-12:00

NAMFS Webinar June 4, 2015 11:00EST-12:00

        Kyle Nickles                    Craig Hoff
        NY Field Services             Earthvisionz

This webinar will discuss and demonstrate the new cutting edge technology available to the mortgage field industry. Microsoft: Streets and Trips will no longer be supported as of July, 2015. Old maps, no updates or support of any kind…

Drive Tracker has been specifically designed to meet the mortgage field industry needs including the following features:

Address Verification
Unlimited Stops
Best Rout Optimizer

Continue Reading

Testimony before the U.S. House of Representatives Committee

David A. Montoya, Inspector General of the U.S. Department of Housing and Urban Development (HUD) written testimony excerpt:

Testimony before the U.S. House of Representatives
Committee on Financial Services
Subcommittee on Oversight and Investigations
“Exploring Alleged Ethical and Legal Violations at the U.S. Department of Housing and Urban Development”

In closing, these actions by a small group of HUD employees detract from what my experience has shown to be the norm — that is that the vast majority of HUD employees are hardworking, dedicated civil servants. It is a fact that poor actions and behavior are human nature and will occur throughout any industry or entity – private or government. HUD is not alone. However, what I believe is important, is what you do after such behavior is detected to discipline and to create an ethical culture in the workplace. Yet one cannot ignore the fact that for the past several years, HUD has consistently ranked near the bottom in annual surveys of the most desirable federal agency in which to work. Continue Reading