Mon Apr 15 14:32:14 EDT 2024
Home#OpNAMFSBREAKING NEWS: Fannie Mae Requiring SecureView Across US

BREAKING NEWS: Fannie Mae Requiring SecureView Across US

SecureView landed a monumental contract with Fannie Mae and this is a game changer for Contractors as reported by Brena Swanson over at HousingWire. First, my hat is off to Swanson as this is some good, actionable intelligence which the Mortgage Field Services Industry needs. Now, let's talk about SecureView. In essence, SecureView is a Robert Klein production. It is a costly production. And without confirmation of precisely how much more money Contractors are going to be paid, it is a bankrupting production.

The rule is effective immediately for the following states: Arizona, Illinois, Indiana, Louisiana, Minnesota, Ohio, Tennessee, Washington, Massachusetts, Maryland, New Hampshire, New York, New Jersey and Pennsylvania.

Future launch dates:

Oct. 1: Colorado, Connecticut, Mississippi, North Carolina and South Carolina

Dec. 1: Arkansas, District of Columbia, Delaware, Hawaii, Idaho, Maine, Montana, North Dakota, Puerto Rico, Rhode Island, South Dakota, Vermont, West Virginia and Wyoming.

Under the terms, vendors must remove all plywood coverings on windows from the dwelling, garage or outbuildings.

Here is the honest reality: If you are a mom and pop outfit, you are done on Fannie Mae properties. Pure and simple. Gone are the days of picking up a sheet or two of plywood at Lowes or Home Depot --- incidentally, Home Depot just had a Data Breach. People are going to have to order a ton of product from SecureView and that is going to price out most of the players. In turn, this is going to impact Supply vs Demand --- mark my words on this! To read the pricing and see the SecureView Video, please consider Subscribing to the Foreclosurepedia Nation as an Industry Insider!

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Paul Williams
Paul Williams
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