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» VISIT US ONLINE @ DSNEWS.COM 77 fourth "win," Schumer said the rehabbing of zombie homes also provides jobs for construc- tion crews. Schumer said, "HUD needs to wake up and to prevent this zombie-home apocalypse from gaining the upper hand again and sucking the life from Rochester's neighborhoods." Schumer's office said it estimates each zombie property in the city of Rochester is worth $15,000 to the lo- cal tax rolls. At 2,000 properties, that translates to $30 million. CRFS Expands Service Offerings Claims Recovery Financial Services (CRFS), a New York-based investor and insurer claims management solutions provider, announced the addition of new consulting and data analytics services, expanding its platform of defaulted-loan product offerings. e added services complement CRFS's claims-processing solutions platform, allowing clients to choose from a comprehensive, full- plate menu of consulting services based on their unique business needs. Over the last 15 years, the company's services have helped clients achieve quality results, submission timeliness, loss reductions, and recovery maximizations. CRFS said its independence and industry expertise provide its partners with the ability to reallocate vital internal resources, successfully scale pro- duction operations, and ultimately, reduce risk, while enhancing financial outcomes. e additional bouquet of services offered by CRFS includes five services that provide clients with a comprehensive product scope across all facets of the claims, audit quality assurance, and property liquidation environments. CRFS said it would customize a plan based on the needs of each client. e Investor/Insurer Mock HUD Audit Review service includes a comprehensive review of previously filed claims as a pre-emptive measure to actual audits to ensure claim-filing accuracy and identify areas of operational ef- ficiency. Investor and insurer mortgage servicing audits are routine, so claim-filing accuracy is critical both from a regulatory and financial- exposure perspective. rough the Investor/Insurer HUD Audit Support service, CRFS provides clients with front-to-back support in the event of an actual FHA claim audit. Its Operational Enhance- ment Consulting service involves in-depth claim processing best-practice studies conducted on site by CRFS's consulting staff and covers various areas. Its Accelerated Disposition Dashboard mortgage after receiving that loan modifica- tion. "Foreclosures crush families and blight neighborhoods," said Ras J. Baraka, Mayor of Newark, New Jersey. "Gov. Murphy's new housing counseling program is an important addition to Newark's existing stabilization partnerships that give owner occupants the opportunity to modify their loans, write down the balances, and forgive back payments." Executive Director of the New Jersey Housing and Mortgage Finance Agency Charles A. Richman said, "Housing counselors serve a vital role in mediation and provide valu- able assistance in guiding a homeowner facing foreclosure to explore options." NEW YORK Senator Calls for Action on Zombie Properties While "zombie homes" might be a cool- sounding name for something, the reality is its own sort of plague for states like New York. In Rochester, these vacant, deteriorating properties are a longstanding eyesore that the city wants to acquire, but federal foot-dragging is holding up those plans. At least that's how Senator Chuck Schumer (D-New York) sees it. In a recent press event, as well as in a letter to Department of Housing and Urban Development (HUD) Secretary Ben Carson, Schumer urged HUD to approve the Asset Control Area Renewal Agreement, which would allow Rochester officials to acquire vacant homes and rehabilitate them. e agreement with HUD had been on the books since 2003 and had allowed Rochester to acquire 750 foreclosed homes for rehab. e agreement was typically renewed every two years, but it expired in February, forcing the city to stall its plans, leaving the fate of 2,000 zombie homes waiting for a decision. e Democrat & Chronicle quoted Schumer at his press gathering saying, "Towns through- out Monroe County are struggling to get rid of these zombie homes, which post-foreclosure often become havens for problems that drag down neighborhoods." Schumer told reporters that HUD has been "dragging its feet" on the renewal of the agreement, thereby "forcing City Hall to stall projects as it continues to wait for approval." Schumer called the agreement a "win-win- win" because it leads to the rehabbing of vacant, often derelict properties, buoys local tax rolls, and provides houses for first-time buyers. In a analysis delivers strategic loan-level reviews, high-risk property assessments, and financial- exposure consequences associated with alternative asset-liquidation options, including REO, claims without conveyance of title, and traditional conveyance. CRFS's Surcharge- able Damage (Property Preservation) Review service, offered in conjunction with the Acceler- ated Disposition Dashboard analysis, involves a comprehensive review of property-inspection and -preservation histories, ensuring property conditions comply with third-party sale or property conveyance requirements relative to surchargeable damage (including mortgagee neglect). According to LendingTree's August 2018 report, "LendingTree Reveals the Most Valuable Cities in America," the value of New York City's residential real estate totals $2.6 trillion. KNOW THIS

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