DS News

47 » VISIT US ONLINE @ DSNEWS.COM Aspen iProperty® Aspen iProperty® is a robust, secure, customizable, enterprise-wide property management solution for the fi nancial services industry. It is widely used by banks, servicers, investors, vendors, and others that inspect, preserve, manage, and sell properties; analyze inventory; manage vendors and compliance; and train internal and external personnel. It creates an independent property management system for each stakeholder, connects networks at all levels of the supply chain, and optimizes the assignment of work and service delivery, through established process workfl ows. It meets the demands of an increasingly regulated environment while managing specifi c processes including, but not limited to: routine inspections, preservation and maintenance, FHA conveyance, compliance, capital repairs, REO, short sale, and hazard claims. Aspen Grove Solutions | 706 W. Patrick St., Frederick, MD 21701 | O ce: 240.345.3430 | Email: sales@aspengrovesolutions.com | www.aspengrovesolutions.com 1. Borrower Default 45+ Days Delinquent 2. Collection/Loss Mitigation E orts 3. Inspection/Prop Pres/Repairs 4. Bankruptcy Filing/Relief of Stay 5. Foreclosure Sale 6. REO 1. Mortgage Origination 2. Loan Set-Up, Payments, Escrow, Tax 3. Payo 1. Mortgage Origination 2. Loan Set-Up, Payments, Escrow, Ta 3. Pa 1. Borrower Default 45+ Days Delinquent 2. Collection/Loss Mi orts 3. Inspection/Prop Pres/Repairs 4. Bankruptcy Filing/Relief of Stay 5. Foreclosure Sale SERVICER PERFORMING LOAN Servicer's System of Record NON-PERFORMING LOAN Aspen iProperty® INTEGRATION THROUGH API SERVICER NEEDY MARKETS MAY GET HELP SOONER THAN THOUGHT e question of how the Government- Sponsored Enterprises could serve underserved markets, such as very low-income, low-income, and moderate-income families, could recently have come that much closer to finding an answer, according to a report by the Urban Institute. Next year, the GSEs will have to begin abiding by the new Duty to Serve (DTS) rule, which mandates that Fannie Mae and Freddie Mac improve their role in supporting low- income households, specifically in three areas: manufactured housing, affordable housing preservation, and rural housing. But how do the enterprises go about living up to that mandate? Certain stakeholders have been brainstorming. e first way Fannie and Freddie can serve the underserved is by providing standardization guidelines to lending for manufactured homes, which make up 9 percent of new single-family starts. Currently, legal, regulatory, and financial concerns make it difficult for GSEs to lend in this area, but standardization could lead to lower costs. e second way—particularly important to rural demographics—is to bring existing loan programs, such as the Low-Income Housing Tax Credit and other loan programs from the U.S. Department of Agriculture to areas outside of an urban environment. Further, the GSEs could partner with nonprofit organizations and put more investment into community development financial institutions, which historically have a better understanding of the markets that Fannie and Freddie are trying to reach out to. e enterprises could help these organizations secure more capital to invest in their communities. e biggest thing the GSEs can do, however, once the DTS Rule kicks in is to collect data on the programs put in place so that researchers and policymakers can study its results and continue to brainstorm solutions in order to fill in the gaps. Without research and constant tinkering, the program could have trouble scaling or remaining sustainable. Other underserved aspects that weren't immediately addressed in the plan include assistance for farm workers, single-family rentals, and small-dollar loans. According to an August 2017 report from GOBankingRates, the average American should save at least $1 million in order to comfortably retire. KNOW THIS

• Cover