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» VISIT US ONLINE @ DSNEWS.COM 81 in these taxes go unpaid every year. Overall, Republican-leaning states tend to impose 17 percent lower property taxes on residents than Democrat-leaning states do, according to WalletHub. In terms of property tax expense, the average rank of red states was 24.37 and $1,876, while blue states averaged 28.33 and $2,200. According to Michael E. Bitter, Director of the MAcc Programs in the School of Business Administration at Stetson University, property taxes should always be a consideration when deciding where to buy a home. "ere are many tax considerations, including sales tax, state and local income tax, and other taxes and fees," Bitter said. "If one plans to own property, then clearly property tax rates should be considered, as in many locations, they can be significant. What are property tax rates? Are there ex- emptions? What do the taxes pay for? Have tax rates been increasing in recent years? On what value is the property tax levied?" But property taxes aren't only a worry for homeowners. According to WalletHub, "ough property taxes might appear to be a nonissue for the 37 percent of renter households, that couldn't be further from the truth. We all pay property taxes, whether directly or indirectly, as they impact the rent we pay, as well as the finances of state and local governments." WalletHub's report also revealed the states with the highest and lowest vehicle taxes. Rhode Island ($1,100 on a $23,000 car), Virginia ($966), Mississippi ($773), Connecticut ($555), and Maine ($554) took the top five spots, while 24 states tied for lowest— each with a $0 vehicle tax. Out of states with some sort of vehicle tax, Louisiana came in lowest at $23, followed by Montana ($86), Michigan ($142), California ($150), and Alabama ($174). NEW YORK Chase and Roostify Release Digital Mortgage Platform Chase, headquartered in New York City, announced on February 16 that it has launched a new digital mortgage platform that allows customers to track their home loan experience from start to finish on their computers or mobile devices. e new platform is scheduled to be released later this year. Chase has partnered with Roostify, a mortgage technology provider, to build the platform in hopes of improving the digital customer experience. Customers will have access to the e-Sign feature, loan comparisons, digital updates, and the ability to search for real estate agents. Rajesh Bhat, CEO of Roostify, expressed his support for the partnership. "We and Chase have a shared vision to bring a straight- forward, more-transparent mortgage experi- ence to more consumers than ever before," he said. "We are very excited to partner with Chase as they look to help customers with one of life's most important purchases." e new platform will help customers manage their loan applications, as well as continue to provide customers full access to branches and call centers. Customers now have more options when searching for advice from a Chase loan officer throughout their whole process. Mike Weinbach, CEO of Chase Mortgage, said the platform allows for complete digital mobility. "Digital technology is reshaping the mortgage industry and is rapidly influencing how consumers make purchases today," he said. "is platform will allow us to be where more of our customers are, which is online and on their phones, while still offering the option to work with us in person if they prefer." VIRGINIA NAFCU Expresses Support for H.R. 916 Bill e National Association of Federally- Insured Credit Unions (NAFCU), headquartered in Arlington, Virginia, has issued a letter of support to U.S. Reps. Mark Sanford (R-South Carolina) and Brad Sherman (D-California) after they reintroduced H.R. 916—also known as the Risk Management and Homeowner Stability Act of 2017—in early February. e bill, which would amend the Congressional Budget Control Act of 1974 and effectively prohibit the use of guarantee fees (g-fees) for spending in unrelated federal programs, was originally proposed in 2016, though it was ultimately unsuccessful. e bill's original sponsors, Reps. Sanford and Sherman, brought it back to the floor on February 7. After the reintroduction, Brad aler, NAFCU's VP of Legislative Affairs, quickly penned a letter of thanks to the representatives, noting the NAFCU's longtime support of ending g-fee hikes and spending. "NAFCU has long urged lawmakers not to use Fannie Mae and Freddie Mac's credit risk g-fees as a funding offset," the NAFCU's website reads. "e association has consistently advised against raising g-fees, which would raise borrower costs and could put a damper on lending." In his letter, aler described the inherent risks of using g-fees in federal spending. "G-fees are a critical risk management tool used by Fannie Mae and Freddie Mac to protect against losses from faulty mortgages," aler wrote. "Increasing g-fees for any purpose other than risk mitigation effectively acts as a tax on the purchase or refinance of a home while also exposing the taxpayer to additional risk. Your legislation will stop the practice of using g-fees as a pay-for and help keep the cost of homeownership down for the American people." He continued by saying, "NAFCU and our members thank you for your leadership on this important issue." DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. 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