FEMA Alert
July 11, 2024
FEMA has issued a Fire Management Assistance Declaration for the state of Oregon to supplement state, tribal and local recovery efforts in areas affected by the Larch Creek Fire on July 10, 2024. The following counties have been approved for assistance:
Public Assistance:
Oregon Larch Creek Fire (FM-5506-OR)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
One Community Update
June 26, 2024
Source: www.wibw.com
Several vacant lots in Topeka have been made available for affordable housing development, thanks to action Tuesday by the city’s Land Bank board of trustees.
City officials said the board voted Tuesday to transfer five lots in the capital city to the Land Bank, with the goal of transforming vacant and blighted properties into affordable housing.
In 2023, officials said, the city’s Governing Body voted to set aside $500,000 for a three-year land bank pilot program. With Tuesday’s approval by the board of trustees to transfer the five lots to the land bank, city officials said, the process is moving forward.
The five approved lots already were owned by the city. However, officials said, they needed to be formally added to the land bank to allow the city to place them for sale, officials said.
“We understand that this initiative alone will not solve our housing shortage, but it is a vital pillar that supports the other initiatives and efforts led by the city of Topeka and our economic development organizations,” said Manny Herron, land bank board member and founder of IPG Building Co. “Together, these efforts will drive comprehensive and sustainable growth in our housing market.”
Developers that are interested in purchasing property from the land bank can view available parcels on the city’s public map portal.
After finding a property, they will need to submit the proper application materials to the Land Bank’s board of trustees to be considered for selection.
Properties also can be donated to the land bank. Those interested in donating a property to the land bank will need to submit the proper application materials, and then undergo an inspection process on the property.
After submissions have been reviewed, the board of trustees will select applicants for the program.
“We eagerly anticipate the innovative responses from developers and their contributions to increasing access to quality housing,” Herron said. “This initiative is more than just a project — it is a testament to our dedication to seeing Topeka thrive.
“I look forward to witnessing the positive impact this program will have on our city and its future.”
For full report, please click the source link above.
One Community Update
July 9, 2024
Source: www.thecentersquare.com
A new law signed Monday gives Pennsylvania counties a new tool to address blight.
Now, officials can apply a $250 fee to foreclosure sales that must support a demolition and rehabilitation fund used to tackle blighted properties.
“Rundown and abandoned properties are a drain on local property values and erode the tax base,” said prime sponsor Sen. Jim Brewster, D-Monroeville. “This bill will help revitalize neighborhoods while reducing property taxes by shoring up property values.”
The problems are not new; Pennsylvania has had a Statewide Blight Task Force since 2006. The commonwealth has statewide regulations covering building codes – but doesn’t have a uniform property maintenance code. Instead, towns, boroughs, and cities decide whether they want to establish a code and what form it will take.
The city of Erie established a blight fee in January, charging owners $300 every six months. Local leaders worry, however, that blight driving down neighboring properties can lead to disinvestment, putting a heavier burden on government funds to clean up dangerous places.
Creating land banks to buy, rehab, and resell blighted property has been another way to deal with deteriorating buildings, and the House has also passed a bill to expand their use, but finding investment to underpin the banks’ work isn’t always forthcoming, nor are buyers.
Brewster’s bill cleared the House 109-93, with all but eight Republicans opposed. Gov. Josh Shapiro signed it Monday, along with nine other bills that came across his desk.
Meanwhile, legislative action has slowed to a crawl as leaders negotiate the state’s annual spending plan – now nine days past due.
For full report, please click the source link above.
FEMA Alert
July 9, 2024
FEMA has issued a Fire Management Assistance Declaration for the state of Arizona to supplement state, tribal and local recovery efforts in areas affected by the Shake Fire on July 9, 2024. The following counties have been approved for assistance:
Public Assistance:
Arizona Shake Fire (FM-5505-AZ)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Industry Update
July 10, 2024
Source: Consumer Financial Protection Bureau
Proposed rules would require servicers to help homeowners before foreclosing, give servicers more flexibility by reducing paperwork requirements, and improve communication with homeowners
The Consumer Financial Protection Bureau (CFPB) today proposed new rules to make it easier for homeowners to get help when they are struggling to pay their mortgage. The proposal, if finalized, would require mortgage servicers to focus on helping borrowers, not foreclosing, when a homeowner asks for help. The proposed changes would also make it simpler for servicers to offer assistance by reducing paperwork requirements, improve communication with borrowers, and ensure critical information is provided in languages borrowers understand. The CFPB is requesting comment about several other topics, including possible approaches it could take to ensure servicers are furnishing accurate and consistent credit reporting information for borrowers undergoing review for assistance.
“When struggling homeowners can get the help they need without unnecessary obstacles, it is better for borrowers, servicers, and the economy as a whole,” said CFPB Director Rohit Chopra. “The CFPB’s proposal would reduce avoidable foreclosures and make the mortgage market more resilient during future crises.”
Mortgage servicers are the companies that handle the day-to-day management of mortgage loans. They collect monthly payments, maintain loan records, and importantly, help find options for homeowners who are struggling to make their payments. In general, the faster a servicer gets a borrower into one of these options, the smaller the losses for investors and the more likely foreclosure is avoided. These options can include temporarily pausing payments or extending the loan term to lower monthly payments.
The current regulations governing mortgage servicing took effect in 2014. They were developed in response to the severe foreclosure crisis that saw 7.5 million homes lost to foreclosure between 2006 and 2014. The rules have rigid timing and other requirements that servicers must follow in all cases. The rules also rely on borrowers submitting all their documents before the servicer begins its review or pauses foreclosure proceedings.
In 2022, the CFPB asked the public for input on improving protections for borrowers facing financial hardships. The CFPB heard from both the mortgage industry and borrower advocates that a simpler, more flexible approach to mortgage assistance would be helpful.
In particular, the CFPB received a positive response about pandemic-related approaches to helping struggling borrowers. In order to allow servicers to quickly help the large number of borrowers seeking help during the pandemic, the CFPB adjusted its rules to permit, temporarily, borrowers to receive assistance without comprehensive review, even when the result was a year-long payment pause or a permanent change to the loan terms. Many commenters noted that both borrowers and servicers benefited from this departure from the 2014 regulatory framework and encouraged the CFPB to adopt permanently some aspects of those adjustments to the rule made during the COVID-19 pandemic.
For full report, please click the source link above.
Industry Update
July 8, 2024
Source: CalculatedRisk Newsletter
Single-family serious delinquencies decreased in May, and multi-family serious delinquencies increased slightly.
Freddie Mac reported that the Single-Family serious delinquency rate in May was 0.49%, down from 0.51% April. Freddie’s rate is down year-over-year from 0.58% in May 2023. This is below the pre-pandemic lows.
Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.
Fannie Mae reported that the Single-Family Serious Delinquency decreased to 0.48% in May from 0.49% in April. The serious delinquency rate is down year-over-year from 0.56% in May 2023. This is also below the pre-pandemic lows, and this is the lowest level since November 2002.
The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
For full report, please click the source link above.
Industry Update
July 10, 2024
Source: ATTOM
ATTOM, a leading curator of land, property and real estate data, today released its Midyear 2024 U.S. Foreclosure Market Report, which shows there were a total of 177,431 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2024. That figure is down 4.4 percent from the same time period a year ago but up 7.8 percent from the same time period two years ago.
“In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” stated Rob Barber, CEO for ATTOM. “In addition, U.S. foreclosure starts also decreased by 3 percent in the first six months of 2024. These shifts could suggest a potential stabilization in the housing market; however, monitoring these evolving patterns remains crucial to understanding the full impact on the real estate sector.”
States that saw the greatest increases in foreclosure activity compared to a year ago in the first half of 2024 included South Dakota (up 93 percent); North Dakota (up 86 percent); Kentucky (up 73 percent); Massachusetts (up 46 percent); and Idaho (up 30 percent).
For full report, please click the source link above.
FEMA Alert
July 10, 2024
FEMA has issued a Major Disaster Declaration for the state of New Hampshire to supplement state, tribal, and local recovery efforts in areas affected by a severe winter storm and flooding from April 3-5, 2024. The following counties have been approved for assistance:
Public Assistance:
New Hampshire Severe Winter Storm and Flooding (DR-4799-NH)
President Joseph R. Biden, Jr. Approved Major Disaster Declaration for New Hampshire
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
July 9, 2024
FEMA has issued a Major Disaster Declaration for the state of Texas to supplement state, tribal, and local recovery efforts in areas affected by Hurricane Beryl from July 5-9, 2024. The following counties have been approved for assistance:
Public Assistance:
Texas Hurricane Beryl (DR-4798-TX)
President Joseph R. Biden, Jr. Approved Major Disaster Declaration for Texas
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
July 7, 2024
FEMA has issued a Fire Management Assistance Declaration for the state of Utah to supplement state, tribal and local recovery efforts in areas affected by the Silver King Fire on July 7, 2024. The following counties have been approved for assistance:
Public Assistance:
Utah Silver King Fire (FM-5504-UT)
FEMA Authorizes Funds to Fight Utah’s Silver King Fire
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
CHIEF EXECUTIVE OFFICER
Alan Jaffa
Alan Jaffa is the chief executive officer for Safeguard, steering the company as the mortgage field services industry leader. He also serves on the board of advisors for SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.
Alan joined Safeguard in 1995, learning the business from the ground up. He was promoted to chief operating officer in 2002, and was named CEO in May 2010. His hands-on experience has given him unique insights as a leader to innovate, improve and strengthen Safeguard’s processes to assure that the company adheres to the highest standards of quality and customer service.
Under Alan’s leadership, Safeguard has grown significantly with strategies that have included new and expanded services, technology investments that deliver higher quality and greater efficiency to clients, and strategic acquisitions. He takes a team approach to process improvement, involving staff at all levels of the organization to address issues, brainstorm solutions, and identify new and better ways to serve clients.
In 2008, Alan was recognized by Crain’s Cleveland Business in its annual “40-Under-40” profile of young leaders. He also was named a NEO Ernst & Young Entrepreneur of the Year® finalist in 2013.
Chief Operating Officer
Michael Greenbaum
Michael Greenbaum is the chief operating officer for Safeguard. Mike has been instrumental in aligning operations to become more efficient, effective, and compliant with our ever-changing industry requirements. Mike has a proven track record of excellence, partnership and collaboration at Safeguard. Under Mike’s leadership, all operational departments of Safeguard have reviewed, updated and enhanced their business processes to maximize efficiency and improve quality control.
Mike joined Safeguard in July 2010 as vice president of REO and has continued to take on additional duties and responsibilities within the organization, including the role of vice president of operations in 2013 and then COO in 2015.
Mike built his business career in supply-chain management, operations, finance and marketing. He has held senior management and executive positions with Erico, a manufacturing company in Solon, Ohio; Accel, Inc., a packaging company in Lewis Center, Ohio; and McMaster-Carr, an industrial supply company in Aurora, Ohio.
Before entering the business world, Mike served in the U.S. Army, Ordinance Branch, and specialized in supply chain management. He is a distinguished graduate of West Point (U.S. Military Academy), where he majored in quantitative economics.
CHIEF INFORMATION OFFICER
Sean Reddington
Sean Reddington is the new Chief Information Officer for Safeguard Properties LLC. Sean has over 15+ years of experience in Information Services Management with a strong focus on Product and Application Management. Sean is responsible for Safeguard’s technological direction, including planning, implementation and maintaining all operational systems
Sean has a proven record of accomplishment for increasing operational efficiencies, improving customer service levels, and implementing and maintaining IT initiatives to support successful business processes. He has provided the vision and dedicated leadership for key technologies for Fortune 100 companies, and nationally recognized consulting firms including enterprise system architecture, security, desktop and database management systems. Sean possesses strong functional and system knowledge of information security, systems and software, contracts management, budgeting, human resources and legal and related regulatory compliance.
Sean joined Safeguard Properties LLC from RenPSG Inc. which is a nationally leading Philintropic Software Platform in the Fintech space. He oversaw the organization’s technological direction including planning, implementing and maintaining the best practices that align with all corporate functions. He also provided day-to-day technology operations, enterprise security, information risk and vulnerability management, audit and compliance, security awareness and training.
Prior to RenPSG, Sean worked for DMI Consulting as a Client Success Director where he guided the delivery in a multibillion-dollar Fortune 500 enterprise client account. He was responsible for all project deliveries in terms of quality, budget and timeliness and led the team to coordinate development and definition of project scope and limitations. Sean also worked for KPMG Consulting in their Microsoft Practice and Technicolor’s Ebusiness Division where he had responsibility for application development, maintenance, and support.
Sean is a graduate of Rutgers University with a Bachelor of Arts and received his Masters in International Business from Central Michigan University. He was also a commissioned officer in the United States Air Force prior to his career in the business world.
General Counsel and Executive Vice President
Linda Erkkila, Esq.
Linda Erkkila is the general counsel and executive vice president for Safeguard and oversees the legal, human resources, training, and compliance departments. Linda’s responsibilities cover regulatory issues that impact Safeguard’s operations, risk mitigation, enterprise strategic planning, human resources and training initiatives, compliance, litigation and claims management, and mergers, acquisition and joint ventures.
Linda assures that Safeguard’s strategic initiatives align with its resources, leverage opportunities across the company, and contemplate compliance mandates. Her practice spans over 20 years, and Linda’s experience covers regulatory disclosure, corporate governance compliance, risk assessment, executive compensation, litigation management, and merger and acquisition activity. Her experience at a former Fortune 500 financial institution during the subprime crisis helped develop Linda’s pro-active approach to change management during periods of heightened regulatory scrutiny.
Linda previously served as vice president and attorney for National City Corporation, as securities and corporate governance counsel for Agilysys Inc., and as an associate at Thompson Hine LLP. She earned her JD at Cleveland-Marshall College of Law. Linda holds a degree in economics from Miami University and an MBA. In 2017, Linda was named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.
Chief Financial Officer
Joe Iafigliola
Joe Iafigliola is the Chief Financial Officer for Safeguard. Joe is responsible for the Control, Quality Assurance, Business Development, Accounting & Information Security departments, and is a Managing Director of SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.
Joe has been in a wide variety of roles in finance, supply chain management, information systems development, and sales and marketing. His career includes senior positions with McMaster-Carr Supply Company, Newell/Rubbermaid, and Procter and Gamble.
Joe has an MBA from The Weatherhead School of Management at Case Western Reserve University, is a Certified Management Accountant (CMA), and holds a bachelor’s degree from The Ohio State University’s Honors Accounting program.
AVP, High Risk and Investor Compliance
Steve Meyer
Steve Meyer is the assistant vice president of high risk and investor compliance for Safeguard. In this role, Steve is responsible for managing our clients’ conveyance processes, Safeguard’s investor compliance team and developing our working relationships with cities and municipalities around the country. He also works directly with our clients in our many outreach efforts and he represents Safeguard at a number of industry conferences each year.
Steve joined Safeguard in 1998 as manager over the hazard claims team. He was instrumental in the development and creation of policies, procedures and operating protocol. Under Steve’s leadership, the department became one of the largest within Safeguard. In 2002, he assumed responsibility for the newly-formed high risk department, once again building its success. Steve was promoted to director over these two areas in 2007, and he was promoted to assistant vice president in 2012.
Prior to joining Safeguard, Steve spent 10 years within the insurance industry, holding a number of positions including multi-line property adjuster, branch claims supervisor, and multi-line and subrogation/litigation supervisor. Steve is a graduate of Grove City College.
AVP, Operations
Jennifer Jozity
Jennifer Jozity is the assistant vice president of operations, overseeing inspections, REO and property preservation for Safeguard. Jen ensures quality work is performed in the field and internally, to meet and exceed our clients’ expectations. Jen has demonstrated the ability to deliver consistent results in order audit and order management. She will build upon these strengths in order to deliver this level of excellence in both REO and property preservation operations.
Jen joined Safeguard in 1997 and was promoted to director of inspections operations in 2009 and assistant vice president of inspections operations in 2012.
She graduated from Cleveland State University with a degree in business.
AVP, Finance
Jennifer Anspach
Jennifer Anspach is the assistant vice president of finance for Safeguard. She is responsible for the company’s national workforce of approximately 1,000 employees. She manages recruitment strategies, employee relations, training, personnel policies, retention, payroll and benefits programs. Additionally, Jennifer has oversight of the accounts receivable and loss functions formerly within the accounting department.
Jennifer joined the company in April 2009 as a manager of accounting and finance and a year later was promoted to director. She was named AVP of human capital in 2014. Prior to joining Safeguard, she held several management positions at OfficeMax and InkStop in both operations and finance.
Jennifer is a graduate of Youngstown State University. She was named a Crain’s Cleveland Business Archer Award finalist for HR Executive of the Year in 2017.
AVP, Application Architecture
Rick Moran
Rick Moran is the assistant vice president of application architecture for Safeguard. Rick is responsible for evolving the Safeguard IT systems. He leads the design of Safeguard’s enterprise application architecture. This includes Safeguard’s real-time integration with other systems, vendors and clients; the future upgrade roadmap for systems; and standards designed to meet availability, security, performance and goals.
Rick has been with Safeguard since 2011. During that time, he has led the system upgrades necessary to support Safeguard’s growth. In addition, Rick’s team has designed and implemented several innovative systems.
Prior to joining Safeguard, Rick was director of enterprise architecture at Revol Wireless, a privately held CDMA Wireless provider in Ohio and Indiana, and operated his own consulting firm providing services to the manufacturing, telecommunications, and energy sectors.
AVP, Technology Infrastructure and Cloud Services
Steve Machovina
Steve Machovina is the assistant vice president of technology infrastructure and cloud services for Safeguard. He is responsible for the overall management and design of Safeguard’s hybrid cloud infrastructure. He manages all technology engineering staff who support data centers, telecommunications, network, servers, storage, service monitoring, and disaster recovery.
Steve joined Safeguard in November 2013 as director of information technology operations.
Prior to joining Safeguard, Steve was vice president of information technology at Revol Wireless, a privately held wireless provider in Ohio and Indiana. He also held management positions with Northcoast PCS and Corecomm Communications, and spent nine years as a Coast Guard officer and pilot.
Steve holds a BBA in management information systems from Kent State University in Ohio and an MBA from Wayne State University in Michigan.
Assistant Vice president of Application Development
Steve Goberish
Steve Goberish, is the assistant vice president of application development for Safeguard. He is responsible for the maintenance and evolution of Safeguard’s vendor systems ensuring high-availability, security and scalability while advancing the vendor products’ capabilities and enhancing the vendor experience.
Prior to joining Safeguard, Steve was a senior technical architect and development manager at First American Title Insurance, a publicly held title insurance provider based in southern California, in addition to managing and developing applications in multiple sectors from insurance to VOIP.
Steve has a bachelor’s degree from Kent State University in Ohio.
