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» VISIT US ONLINE @ DSNEWS.COM 117 e new legislation will benefit the industry by reducing vandalism and allow the on-time conveyance of the properties. It will protect neighborhoods, reduce blight in the commu- nity, and maintain the value of homes in the neighborhoods. It is our hope that more states will follow Ohio's example." Five Star Institute President and CEO Ed Delgado says the bill is a great move on the part of Ohio representatives. "I applaud the Ohio State Legislature for passing H.B. 463," Delgado said. "Vacant and abandoned properties are a crisis of national proportion. Using plywood to secure these homes only creates more problems in many cases, and it adversely affects entire commu- nities. Banning its use will keep properties from appearing vacant, which will reduce the potential for crime and help maintain property values, ultimately making the community a better place to live." Ohio has long been at the forefront when it comes to innovative solutions to reduce neighborhood blight. Earlier this year, the state passed a "fast track" foreclosure law that would reduce foreclosure timelines in the state from two to three years down to as low as six months. "(H.B. 463) enhances what we did to re- duce blight in foreclosed properties," said Ohio Rep. Cheryl Grossman, who was a co-sponsor of the fast track bill. "With the challenges that our police departments are facing and some of the situations they are responding to, it makes a lot of sense they are banning plywood." e passage of Ohio H.B. 463 was the second major advancement in the property- preservation industry in the last two months with regard to banning the use of plywood. In early November at the National Property Preservation Conference, Fannie Mae an- nounced a new allowable promoting the use of polycarbonate clearboard instead of plywood on pre-foreclosure properties and that starting November 9, all vacant Fannie Mae-owned properties, whether in pre- or post-foreclosure state or REO, were required to use an alterna- tive to plywood to secure vacant homes. WISCONSIN HUD Awards Millions for College Education e U.S. Department of Housing and Urban Development (HUD) recently awarded approximately $2.5 million to the Housing Authority of the City of Milwaukee, along with eight other Public Housing Authori- ties (PHAs), in an effort to assist low-income youth and their families in applying for federal student aid for college and other educational opportunities. e Housing Authority of the City of Milwaukee was awarded a grant for $82,000. e Resident Opportunities and Self Suf- ficiency (ROSS) for Education Program, also known as Project SOAR (Students + Oppor- tunities + Achievements = Results), is a new program that provides grant funding to PHAs to deploy education navigators to help public housing youth aged 15 to 20 and their families apply for the U.S. Department of Educa- tion's Free Application for Federal Student Aid (FAFSA), as well as assist with financial literacy and college readiness, post-secondary program applications, and post-acceptance as- sistance. ROSS for Education is one of several HUD initiatives to increase access to federal financial aid for HUD-assisted families and students. According to HUD Secretary Julián Castro, eligible youth will benefit greatly from the project. "Achieving the dream of a college educa- tion is becoming more of a reality for hundreds of students living in HUD-assisted housing," Castro said. "is is an investment in our young people by putting them on a path to a college degree and creating greater opportu- nity to more prosperous lives." HUD awarded grants to Chicago Hous- ing Authority ($452,000), City of Phoenix Housing Department ($452,000), Housing Authority of the City of High Point ($156,938), Housing Authority of the City of Los Angeles ($452,000), Housing Authority of the City of Prichard ($106,049), Housing Authority of the City of Seattle ($452,000), Northwest Georgia Housing Authority ($100,000), and Philadel- phia Housing Authority ($300,356). e combination of a sparse housing inven- tory and strong demand spurred an increase in home prices in 2016, according to Realtor.com. e lack of home inventory, which is currently down an average of 11 percent in the top 10 metropolitan areas in the country, is expected to remain constant in 2017. e current median age of inventory is at 68 days, which is a 14-percent increase over the national average. 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. DAILY DOSE Start your day with a professional pick-me-up. 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 The number of properties that received a foreclosure filing in Wisconsin as of November was 1 in every 2,322, according to RealtyTrac. KNOW THIS

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