Archives For: Industry Updates

FHFA Announces Validation of FICO 10T and VantageScore 4.0 for Use by Fannie Mae and Freddie Mac

FHFA announced the validation and approval of both the FICO 10T and VantageScore 4.0 credit score models for use by Fannie Mae and Freddie Mac.

24 Oct 2022

Newark Targets Derelict Property Owners with New Ordinance

A new law in Newark aims to tackle the problem of derelict properties by penalizing unreachable corporations and absentee lot owners.

21 Oct 2022

Mortgage Application Volume Hits 25-Year Low

Mortgage application activity again fell during the week ending October 14 as mortgage rates hit their highest level in 20 years.

19 Oct 2022

Share of Mortgage Loans in Forbearance Decreases to .69% in September

The Mortgage Bankers Association monthly Loan Monitoring Survey reported that loans in forbearance fell 3 basis points in September from the previous month.

17 Oct 2022

Lawmaker Says it’s Time for a Land Bank in St. Louis County

A St. Louis lawmaker plans to introduce legislation that will allow the county to create a land bank to better absorb and repurpose abandoned properties in neighborhoods.

17 Oct 2022

Freddie Mac Announces Underwriting Innovation to Help Lenders Qualify More Borrowers for a Mortgage

Freddie Mac will increase homeownership opportunities by identifying a history of positive monthly cash flow to a borrowers bank account with new tech added to its automated underwriting system LPASM.

17 Oct 2022

FHFA Outlines Seven Challenges for 2023

FHFA, Office of the Inspector General has published a memo identifying major challenges Fannie Mae and Freddie Mac expects to face in 2023.

14 Oct 2022

Mortgage Rates Hit 20-Year High

The 30-year fixed-rate mortgage averaged 6.92% last week as rates climbed to the highest they have been since April 2002.

13 Oct 2022

U.S. Foreclosure Activity Continues to Increase Quarterly Nearing Pre-Pandemic Levels

ATTOM released it’s Q3 2022 US Foreclosure Market Report showing foreclosures up 3% from the previous quarter and 104% from a year ago.

13 Oct 2022

Proposed Bill Aimed to Fight Blight Paused after Concerns about Execution

Baltimore city leaders are working on a bill that would fine vacant property owners for every emergency at their property after the first in a year’s span.

11 Oct 2022

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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.

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.

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.

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.

Business Development

Carrie Tackett

Business Development Safeguard Properties