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92 counties, or even states is much more challenging than doing so for one's own home. at's why many lenders and investors hire a vendor partner to develop and execute a successful repair program for their REO or SFR assets. So, what should you look for in a repair-management vendor to ensure your repair dollars are maximized? Understand the Scope of the Repair Had I really understood what it took to repair my AC unit, I could have done it myself. Similarly, many lenders and investors want to fully understand the scope of repairs, including all the deficiencies of the asset compared to the comparable properties that are available in the neighborhood. Having dedicated, trained vendor partners in the field that are in tune with the local market is essential. Without their input, including photos, descriptions, and their commitment to the best strategy for the asset, you won't be nearly as effective as you could be. Communicate Regularly with Your Vendor Partners Being a thousand miles from an active repair represents an issue in and of itself. Good, effective communication is the key to providing assurance that work is progressing as expected. Regular phone calls that ask the right questions and provide immediate direction are essential. In some cases, traveling to the asset or scheduling a third-party to inspect the repair process on your behalf may be necessary. Perform a Final Inspection Despite best efforts, issues can arise that prevent a vendor partner from completing a project on time, such as weather delays or back-ordered materials. Having realistic expectations set at the beginning of the project and updates as the project progresses prevents needless hand- wringing as the deadline approaches. Final inspection and signoff prevents unsatisfactory work from being accepted. Everyone wants to get their money's worth for any service they purchase. At Green River Capital, we adhere to general best practices that can be customized with our clients' budgets and preferred vendors. is includes providing an accurate scope of all needed repairs and where to most effectively spend the funds. After repairs are authorized, we then oversee repairs through to completion, while working to stay within budget and on a reasonable timeline. Andrew Oliverson is SVP of REO at Green River Capital, a wholly owned subsidiary of Clayton Holdings LLC. Clayton Holdings is a wholly owned subsidiary of Radian Group, Inc. Among the assistance, HUD granted immediate foreclosure relief in the form of a 90-day moratorium on foreclosures of Federal Housing Administration (FHA)-insured home mortgages. In addition, HUD offered different forbearance and loan modification options for FHA borrowers affected by disasters. Borrowers having trouble making regular payments should contact their loan servicer as soon as possible for more information. Other assistance efforts included: » Making mortgage insurance available– HUD's Section 203(h) program provides FHA insurance to disaster victims who have lost their homes and are facing the daunting task of rebuilding or buying an- other home. Borrowers from participating FHA-approved lenders are eligible for 100 percent financing, including closing costs. » Making insurance available for both mort- gages and home rehabilitation—HUD's Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home; » Sharing information with FEMA and the state on housing providers that may have available units in the impacted counties– this includes Public Housing Agencies and multifamily owners. e department will also connect FEMA and the state to sub- ject matter experts to provide information on HUD programs and providers. UTAH Three Ways to Ensure Effective Repair Management By Andrew Oliverson After the hottest July on record for the Salt Lake City area, during which my air conditioning unit worked overtime, I noticed a performance slump along with wet carpet in my basement. So, I turned off the AC and called a repairman. He showed up Monday afternoon and simply removed an internal panel, cleaned the drip tray that captures the condensation from the evaporator coil, and unclogged the ¾" drain pipe. I paid a $120 service fee and realized: Had I taken a few extra minutes, I could have saved myself $120, multiple phone calls, and two days of no air conditioning. Of course, effectively managing repairs for numerous homes across different cities, CALIFORNIA First American Mortgage Solutions Named Vendor for Fannie Mae's Day 1 Certainty Program California-based First American Mortgage Solutions, LLC announced in October it is one of a few vendors able to offer data verification for all three components of Fannie Mae's Desktop Underwriter (DU) validation service and Day 1 Certainty through FirstAmerican FraudGuard. Now that First American Mortgage Solu- tions is an authorized supplier for 4506-T tax transcript service for IRS income verification, benefits include single source for Day 1 Cer- tainty through the DU validation service, easy access to all three verification reports through First American FraudGuard, the ability to order individually or as a suite, and faster reviews with FraudGuard analytics and combined reporting. According to President of First American Mortgage Solutions Kevin Wall, the company's comprehensive verification solution provides lenders with one source to get representation and warranty relief on validated loan components from Fannie Mae. "By accessing all three reports in a streamlined workflow, lenders will benefit from greater speed and efficiency, supporting their efforts to enhance the borrower experience," Wall said. Wall continued to explain how excited the company is to assist lenders in maximizing the value of the Day 1 Certainty program, so they can deliver more loans faster with confidence. "Transforming the future of the mortgage industry requires alignment across all stakeholders and we are excited to be part of this collaboration," said Wall. HUD TO THE RESCUE FOR WILDFIRE VICTIMS In October, the U.S. Housing and Urban Development (HUD) announced it will speed federal disaster assistance to the State of California and provide support to homeowners and low-income renters forced from their homes due to wildfires. President Trump issued a major disaster declaration for Butte, Lake, Mendocino, Napa, Nevada, Orange, Sonoma, and Yuba counties. e President's declaration allows HUD to offer foreclosure relief and other assistance to certain families living in these counties.

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