CLEVELAND, Nov. 11, 2016 /PRNewswire/ -- SecureView, maker of the country's first virtually unbreakable, undetectable clearboarding system, hailed the news that Fannie Mae has added new technology to the reimbursable solutions used to secure vacant properties, whether they are real-estate-owned or in a pre- or post-foreclosure state. Fannie Mae announced this week that it will reimburse mortgage field servicers for the added upfront cost of using polycarbonate windows and doors or other clearboarding alternatives to plywood.
Fannie Mae's national policy, which has a 90-day adoption period for servicers and vendors, brings a 21 st century solution to the battle against community blight being waged across the country. "Fannie Mae's decision to reimburse for the use of clearboarding to secure all vacant properties is a game changer," said Robert Klein, Founder and Chairman of Safeguard Properties, Community Blight Solutions and SecureView. "It will have a tremendous impact on returning properties to the market more quickly in a more stable and marketable condition. It is a major step forward and has been two years in the making. We hope it will be the catalyst that prompts the industry to follow suit." Fannie Mae has been a leader in supporting the use of polycarbonate clearboarding to secure post-foreclosure vacant homes since early 2014. "Plywood has been the default boarding material for decades," said Klein, who is a leader in the mortgage servicing and property preservation industry and has more than 25 years of experience in maintaining vacant properties. "But rather than protecting the property, plywood advertises that a home is empty, attracting vandals, squatters and criminal activity. Despite the higher upfront cost of clearboarding, servicers save in the long term because of the product's ability to maintain the value of the property and shorten the disposition process."