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The Industry Pulse: GSE Investing in Disaster Areas

 

 

Fannie Mae has announced that it has committed to invest up to $50 million in a low-income housing tax credit (LIHTC) fund that will support properties in disaster-stricken areas. The investment is part of Fannie Mae’s ongoing commitment to affordable rental housing in underserved markets. Fannie Mae has committed over $1 billion to LIHTC investments since 2018.

Fannie Mae will partner with Boston Capital to invest in the Disaster Area Housing Recovery (DAHR) Fund I. The DAHR Fund will target proprietary investments in LIHTC properties located in areas that the President of the United States has declared to have experienced a major disaster or emergency and, thus, are entitled to disaster relief support through the Federal Emergency Management Agency (FEMA) and other agencies.

"Disaster relief calls for many different considerations and the repair and reconstruction of housing for our most vulnerable communities is just one way we can support underserved markets in America," said Dana Brown, VP, LIHTC Investments, Fannie Mae. "This fund allows us to channel much needed capital to communities that have experienced a major disaster or an emergency.”

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Safeguard Properties, the mortgage field services company, has developed enhanced controls surrounding insurance loss and other scheduled inspections through its proprietary SafeView Field Services platform.

Utilizing SafeView Inspect, an integrated mobile inspection application, inspectors attempting to contact property occupants to schedule an inspection service are required to document proof of phone calls, voicemail messages and any other efforts to reach out. This eliminates any confusion regarding the inspector's attempts to schedule the inspection.

A video by the company offers an overview of the enhancements developed by Safeguard.

“By adding controls around this process, we are able to provide clients the most up-to-date information regarding contact attempts and, ultimately, the condition of their assets,” said Alan Jaffa, CEO of Safeguard Properties. “Innovations like this allow us to maintain the high level of customer service and quality results our clients expect from Safeguard.”

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National Bankruptcy Services (NBS)  is pleased to announce that Bill Mueller has joined the business development team. Bill Mueller is the SVP of National Business Development. Mueller will focus on executing the NBS revenue growth strategy efforts and be responsible for key aspects of customer acquisition, revenue growth management, and national business development.

"Bill has a proven track record of growing client relationships and developing new business for companies that have served the mortgage finance industry," said NBS EVP Matt Slonaker. "We're glad that he is joining our business development team and helping us achieve our organic growth in the mortgage, consumer and automotive industry segments."

Mueller brings more than two decades worth of experience in the financial services industry to NBS and their affiliated law firm, Bonial & Associates, P.C. Prior to joining NBS, Mueller served as Sales Director at Altisource and Equator. Additionally, he has held sales and business development positions at US Real Estate Services, iServe REO, and NRT REO Experts.

About Author: Seth Welborn

Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.
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