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Brandon Kirkham Discusses Managing Code Violations in Servicing Management Magazine

Expanded Services, Repairs Safeguard Servicers’ REO Portfolios
Alan Jaffa CEO, Safeguard Properties

Real-estate owned (REO) properties face more scrutiny from today’s savvy buyers. With the flood of foreclosures in the current market, mortgage servicers and investors struggle to compete with traditional-market homes. Every day a property is not rented or sold is money lost for servicers. Servicers and lien holders can protect and improve the quality and value of their REO portfolios through a variety of field service offerings. These include pre-sale repairs, REO marketability enhancements, major overhauls, and rental upkeep.

Pre-Sale Repairs
Because properties have different requirements pre-sale and post-sale, in the past, servicers established separate units to manage the specific processes for each. Now, they have begun to look at the process as a whole, working with their field service partners to make wise investments in pre-sale that protect the condition and value of properties in REO. In fact, the Federal Housing Administration
(FHA) now requires more repairs in pre-sale instead of waiting to address issues once the property goes through foreclosure sale, because it does not want damaged properties conveyed to REO.

REO Marketability Enhancements
Servicers are investing in additional services to enhance the marketability of their REO properties and engaging their field service partners to deliver higher levels of service. Neutral paints, new carpet, updated appliances and clean landscaping aren’t major repairs, but they go a long way to help REO properties appeal to prospective home buyers. Thorough cleaning and regular maid service, along with lawn maintenance keep the property in good condition and help buyers see a home’s potential.

Major Overhauls
When REO properties incur damages, the best way to protect against financial losses is to repair them. Damaged properties sell at far lower prices and sit on the market longer. When insurable damages occur, a field service partner’s hazard claims department can
manage the entire process. This includes filing the hazard claim, deploying reputable contractors to make the repairs once the claim is settled, and assuring that the work is performed to the servicer’s or lien holder’s quality standards. The goal is to turn a damaged property
into a gem so that the first impression of the property is positive and the property sells quickly and at the highest price possible.

Rental Upkeep
When properties don’t sell because of the slow real estate market, more servicers have begun to offer their REO properties as rentals. This requires initial repairs to put the property in good, livable condition, and ongoing services when maintenance issues arise. Field
service partners can be vital to the process, obtaining competitive bids, managing all repairs, and assuring that the work meets quality standards. Field servicers also can utilize their vast contractor networks, technology and infrastructure to manage maintenance needs for
an entire rental portfolio.

To view the article, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees  and a handful of contractors performing services in the Midwest, to a national company with nearly 1,000 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.

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CEO

Alan Jaffa

Alan Jaffa is the Chief Executive Officer for Safeguard Properties, 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® Award finalist in 2013.

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Esq., General Counsel and EVP

Linda Erkkila

Linda Erkkila is the General Counsel and Executive Vice President for Safeguard Properties, with oversight of legal, human resources, training, and compliance. Linda’s broad scope of oversight covers regulatory issues that impact Safeguard’s operations, risk mitigation, strategic planning, human resources and training initiatives, compliance, insurance, litigation and claims management, and counsel related to 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. She has practiced law for 25 years and her experience, both as outside and in-house counsel, covers a wide range of corporate matters, including regulatory disclosure, corporate governance compliance, risk assessment, compensation and benefits, litigation management, and mergers and acquisitions.

Linda earned her JD at Cleveland-Marshall College of Law. She holds a degree in economics from Miami University and an MBA. Linda was previously named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.

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COO

Michael Greenbaum

Michael Greenbaum is the Chief Operating Officer of Safeguard Properties, where he has played a pivotal role since joining the company in July 2010. Initially brought on as Vice President of REO, Mike’s exceptional leadership and strategic vision quickly propelled him to Vice President of Operations in 2013, and ultimately to COO in 2015. Over his 14-year tenure at Safeguard, Mike has been instrumental in driving change and fostering innovation within the Property Preservation sector, consistently delivering excellence and becoming a trusted partner to clients and investors.

A distinguished graduate of the United States Military Academy at West Point, Mike earned a degree in Quantitative Economics. Following his graduation, he served in the U.S. Army’s Ordnance Branch, where he specialized in supply chain management. Before his tenure at Safeguard, Mike honed his expertise by managing global supply chains for 13 years, leveraging his military and civilian experience to lead with precision and efficacy.

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CFO

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard Properties. Joe is responsible for the Control, Quality Assurance, Business Development, Marketing, Accounting, and Information Security departments. At the core of his responsibilities is the drive to ensure that Safeguard’s focus remains rooted in Customer Service = Resolution. Through his executive leadership role, he actively supports SGPNOW.com, an on-demand service geared towards real estate and property management professionals as well as individual home owners in need of inspection and property preservation services. Joe is also an integral force behind Compliance Connections, a branch of Safeguard Properties that allows code enforcement professionals to report violations at properties that can then be addressed by the Safeguard vendor network. Compliance Connections also researches and shares vacant property ordinance information with Safeguard clients.

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.

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Business Development

Carrie Tackett

Business Development Safeguard Properties