Goodbye plywood: Fannie Mae no longer allows plywood in pre-foreclosure

In November, Fannie Mae announced that mortgage servicers were allowed and encouraged to use clear boarding instead of plywood when securing houses that were in pre-foreclosure. That announcement was not retroactive, meaning it only applied to new pre-foreclosures. But that’s not the case anymore, as Fannie Mae announced this week that it is moving away from plywood entirely.