National Association of Mortgage Field Services

September 2023 NAMFS Industry Pricing Initiative Update https://lnkd.in/gm89giCz

What represents the most significant risk for increasing mortgage delinquencies in 2024? What’s going to happen to foreclosure volume? The latest episode of Disposition Download reveals the top concerns of default servicing industry leaders surveyed at a recent Auction.com meeting. Watch now for detailed insights and the nuances behind these trends.  https://auc.tn/3zG1RES #AuctionDotCom #BeyondTheBid Daren Blomquist 

Looking forward to this Verisk webinar on Thursday, where we'll be reviewing the results of the Q1 2024 Verisk Remodel Index - an in-depth look at the rising cost of repairs across the country. What are the implications for #loans and #lenders? What do #realestate investors need to know, and how do they factor these rising costs into their acquisition and operating plans? Join me and subject matter experts Greg Pyne and Lima One Capital's Nathan Trunfio as we discuss this important information. Register here: https://lnkd.in/deuZFkmq

Today, the Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2024-13, Revisions to the 203(k) Rehabilitation Mortgage Insurance Program including updates to the 203(k) Consultant Requirements and Fees. This ML implements updates to the Section 203(k) program guidelines, which are intended to reduce barriers to using the program. https://lnkd.in/g7epbRDt Enhancing the 203(k) Rehabilitation Mortgage Insurance Program (203(k) program) is an integral part of FHA’s goals to increase the supply of affordable housing, expand affordable financing options for homes in need of repair, and stabilize neighborhoods by reducing the blight of vacant and abandoned properties.    With the publication of today’s ML, FHA has now enhanced its 203(k) program guidelines to:   - increase the Limited 203(k) total rehabilitation cost from a maximum of $35,000 to a maximum of $75,000;  - introduce an annual review process for updating the maximum total rehabilitation cost for Limited 203(k);  - extend the rehabilitation period to 12 months for the Standard 203(k) and nine months for the Limited 203(k);  - increase the number of days that a borrower is unable to occupy the subject property during the rehabilitation period for Limited 203(k) from 15 to 30 days;  - permit mortgagees to increase the number of months of financeable Mortgage Payment Reserves for the Standard 203(k);  - allow financing of 203(k) Consultant fees for Limited 203(k); and  - revise the 203(k) Consultant fee schedule. 

If you missed the 2024 NAMFS Conference, here is a recap video! https://lnkd.in/dX7JbWiC Verisk Property Estimating Solutions (Xactware), Five Brothers Asset Management Solutions, Innovative Field Services, @Vendor Resource Management, First Rate Field Services, National Field Representatives, MSI, L&O Construction , and many others!

Thank you Verisk Property Estimating Solutions (Xactware) for the continued support. We are excited about 2025 and your participation!

NAMFS wishes to extend our heartfelt gratitude to each one of you for your exceptional participation and invaluable contributions to the highly successful 2024 National Association of Mortgage Field Service Conference for Mortgage Field Services. Your active involvement and support made the event a resounding triumph and a memorable experience for all involved. As an esteemed sponsor, exhibitor, presenter, or attendee, your presence and engagement played a vital role in fostering an atmosphere of collaboration, learning, and networking throughout the conference. We were thrilled to witness the level of expertise and enthusiasm displayed by all participants, which undoubtedly contributed to the overall success of the event. The conference brought together professionals and stakeholders from the mortgage field service industry, creating a platform for sharing knowledge, exchanging ideas, and exploring the latest trends and advancements in our field. Your commitment to attending and actively participating in the various sessions, workshops, and discussions demonstrated your dedication to professional growth and the advancement of our industry. We extend our special appreciation to our sponsors, whose generous support made this conference possible. Your commitment to our mission and your contributions helped to create a vibrant and enriching environment for all attendees. We are truly grateful for your partnership and the value you bring to our community. Our gratitude also goes to our exhibitors, whose products and services showcased the cutting-edge solutions and innovations that drive our industry forward. Your presence added immense value to the conference, offering attendees opportunities to explore and engage with the latest technologies, tools, and resources available. We would like to express our sincere thanks to our presenters, whose expertise, insights, and thought-provoking presentations captivated and educated our audience. Your dedication to sharing your knowledge and experiences was instrumental in enriching the educational content of the conference. We also appreciate all the attendees who joined us at the conference. Your active participation, thought-provoking questions, and eagerness to connect with fellow professionals created an atmosphere of camaraderie and collaboration that made the event truly exceptional. We hope that you found the conference enlightening and that you were able to establish valuable connections that will contribute to your professional success. Finally, we would ask that you take some time to provide feedback on this year’s event by completing the 2024 Conference Survey. Your unwavering support and enthusiastic participation in the 2024 NAMFS Conference for Mortgage Field Services. We look forward to seeing everyone at the 2025 Conference in Frisco, Texas on May 5-6, 2024. Thank you for being an integral part of NAMFS!

Thank you to our Sponsors, Exhibitors, Speakers, and Attendees of the 2024 NAMFS Conference for Mortgage Field Services. Here is a short video highlighting the sponsors and photos from the WeWomen, NAMFS Gives Back, and Welcome Reception. Save the Date: May 5-6, 2025 @ Embassy Suites in Frisco, Texas.

I had the pleasure and honor of participating in the "Industry Whys: Fireside Chat with Seasoned Vendor" panel at this year's Annual NAMFS Conference. Sharing my experience of managing a diverse field network in property preservation and renovations for 17 years was a privilege. The feedback from the audience was overwhelmingly positive, and I'm grateful to NAMFS for providing the platform to do so. #NAMFS #PropertyPreservation #Renovations #IndustryExpertise #FiresideChat