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» VISIT US ONLINE @ DSNEWS.COM 79 cellence in mortgage servicing and their ability to assist homeowners. Servicers are measured on the basis of their general servicing perfor- mance, roll rates, retention, liquidation ef- ficiency, six-month modification performance, and timeline management compared against the performance of other Fannie Mae loans with similar credit characteristics. Freedom Mortgage is one of the 15 largest mortgage servicers in the U.S. and has grown its servicing business by more than 150% over the past two years. "We are thrilled to be recognized by Fan- nie Mae as a STAR Performer for the second consecutive year," said Stanley C. Middleman, President Freedom Mortgage. "At Freedom, we are committed to constantly improve our business processes to create great mortgage experiences for our customers and surpass their expectations. I'm extremely proud of our entire servicing team, who deserve the credit for this recognition by Fannie Mae." NEW YORK Fraud, Foreclosure, and Community Blight in Buffalo Kuwaiti real estate broker AbdulAziz HouHou is currently in prison for a scam worth $140 million to $240 million, in which HouHou and his company allegedly defrauded thousands of investors. HouHou sold houses to investors promis- ing 15% returns, with a management company taking care of everything from tenant leasing to repairs and rent collection. However, e Buffalo News reports that many of the houses sold were rundown and dilapidated, and HouHou often sold homes to two different investors at the same time or sold houses that were not even for sale. HouHou's companies flipped around 160 houses in the Buffalo, New York, area, a quarter of which faced housing court judg- ment, and half of which entered foreclosure. Buffalo News found that half of the 40 houses HouHou sold in Buffalo on a single day in December 2015 were vacant at the time of sale, according to a Buffalo housing inspections report. Sixteen houses were so dilapidated that the city had them demolished, while nine caught fire and many were vacant and stripped of piping. "Vacancies in neighborhoods create many problems. Neighbors have been concerned, and have been complaining," said Louis J. Petrucci, Assistant Director of Buffalo's Department of Permits and Inspections Service. All of this led to increased urban blight in areas where HouHou and his company operated, including Buffalo, as well as Detroit, Cleveland, Florida, and North Carolina. A white paper published by the National Mortgage Servicing Association (NMSA) discussed some "common sense, practical, and affordable remedies," aimed at reducing the costs of foreclosure practices and community blight. According to the white paper, titled "Understanding the True Costs of Abandoned Properties: How Maintenance Can Make a Difference," the typical foreclosed home can impose costs of around $170,000, $85,000 of which is attributable to vacant property requirements and condition. "It's time to rethink how we deal with vacant and abandoned properties," the white paper states. GET YOUR DAILY DOSE OF DEFAULT SERVICING NEWS Start your day with the most current and critical news on the mortgage default servicing industry from DSNews.com. Sign up for our e-mail newsletter and get the top stories delivered direct to your inbox every day. Register to receive your Daily Dose at DSNews.com GET YOUR DAILY DOSE OF DEFAULT SERVICING NEWS Start your day with the most current and critical news on the mortgage default servicing industry from DSNews.com. Sign up for our email newsletter and get the top stories delivered direct to your inbox every day. Register to receive your Daily Dose at DSNews.com Pennsylvania The Team with More than 10 Years' REO Experience Emma Djiya, Broker 1st Class Realty 98 Forest Drive, Lords Valley, PA 18428 610.301.8803 (c) 570.775.6110 (o) 1stClassREO@gmail.com AroundThePoconos.com New York Prince & Associates Realty Group Serving Suffolk and Nassau Counties 631.252.9539 princeaar.com Angela Prince Distressed Property Real Estate Broker Redfin has ranked Pittsburgh among the three most affordable places to get married and buy a home. KNOW THIS

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