Safeguard Properties

Archives For: Investor and Regulatory Updates

Fannie Mae: Modification Interest Rate Adjustment Update

Source: Fannie Mae (full exhibit) The Fannie Mae Modification Interest Rate is subject to periodic adjustments based on an evaluation of prevailing market rates. The servicer must use the current Fannie Mae Modification Interest Rate indicated below when evaluating a borrower for a conventional mortgage loan modification. NOTE: As a reminder, the interest rate used to determine the […]

5 Oct 2018

FHLMC Guide Bulletin 2018-17: Temporary Requirements for Properties Affected by Hurricane Florence and Other Disasters

Source: Freddie Mac As communities affected by Hurricane Florence continue to rebuild, we’re committed to helping you and your borrowers during this difficult time. Today, we’re providing guidance and flexibilities for impacted mortgages to be sold to and serviced for Freddie Mac. Single-Family Seller/Servicer Guide (Guide) 2018-17 Bulletin: Announces temporary revisions to our selling requirements for certain mortgages […]

3 Oct 2018

FHFA: Statement of Melvin L. Watt

Source: FHFA Chairman Hensarling, Ranking Member Waters, and members of the Committee, thank you for inviting me to testify before the House Financial Services Committee today. Since I last testified before this Committee, Fannie Mae and Freddie Mac (the Enterprises) have marked their 10th anniversary under the conservatorship of the Federal Housing Finance Agency (FHFA). This […]

28 Sep 2018

FHFA: Oversight of Third-Party Provider Relationships

Source: FHFA (AB 2018-08 full bulletin) Purpose This advisory bulletin (AB) provides Federal Housing Finance Agency (FHFA) guidance to Fannie Mae and Freddie Mac, the Federal Home Loan Banks (FHLBanks), and the Office of Finance (OF) (collectively, the regulated entities[1]) on assessing and managing risks associated with third-party provider relationships.  For the purposes of this AB, a third-party […]

28 Sep 2018

GAO: Natural Disasters and FEMA’s Individual Assistance Program

Source: GAO (full blog) In September 2018, Hurricane Florence brought record-setting floods to the Carolinas and another major deployment of the Federal Emergency Management Agency. The numbers aren’t in yet on Florence’s impact, but in 2017, California wildfires, Atlantic hurricanes and other natural disasters affected about 25.8 million people in the United States. About 4.7 million of […]

27 Sep 2018

HUD OIG: HUD Paid an Estimated $413 Million for Unnecessary Preforeclosure Claim Interest and Other Costs Due to Lender Servicing Delays

Source: HUD OIG (full report) SUMMARY: We audited the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration’s (FHA) preforeclosure sale claim process based on an internal Office of Inspector General audit suggestion noting that existing regulations may allow excessive preforeclosure claim interest costs.  Our audit objective was to determine the amount of unnecessary preforeclosure […]

27 Sep 2018

Fannie Mae: Improved Expense Reimbursement; MI Factor; and More

Source: Fannie Mae Announcement SVC-2018-07: Foreclosure Sale Marketing and Foreclosure Auction Services We are updating our policies in an off-cycle Servicing Guide Announcement by: Adding a new vendor to our Third Party Sale Program; Requiring servicers to use a Fannie Mae-approved vendor for foreclosure sale marketing services in certain jurisdictions (refer to Third Party Sales Foreclosure Bidding Instructionsas an […]

26 Sep 2018

FHFA: Foreclosure Prevention Report – Second Quarter 2018

Second Quarter 2018 Highlights The Enterprises’ Foreclosure Prevention Actions: The Enterprises completed 70,945 foreclosure prevention actions in the second quarter, bringing the total to 4,179,581 since the start of conservatorships in September 2008.  Of these actions, 3,491,670 have helped troubled homeowners stay in their homes, including 2,238,770 permanent loan modifications. Twenty-five percent of modifications in […]

26 Sep 2018

FHLMC Guide Bulletin 2018-16: Duty to Serve Affordable Housing Preservation and Rural Housing

Source: Freddie Mac As part of our Duty to Serve plan, we’re announcing new and revised underwriting guidelines to facilitate a secondary market for mortgages that support affordable housing preservation and rural housing. Please review our Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-16 for details on the following: Selling and servicing requirements for our Community Land Trust mortgage offering […]

26 Sep 2018

MHA: HAMP Update: Reporting System Maintenance Outage September 28, 2018 – October 1, 2018

Source: MHA Due to a planned maintenance release, the HAMP Reporting System will be unavailable from 9:00 p.m. ET Friday, September 28, 2018 through 8:00 a.m. ET Monday, October 1, 2018. During this timeframe, HAMP Reporting System response files will not be available and will be sent as soon as the system is available.

25 Sep 2018

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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