Archives For: Safeguard in the News
A recent article in USA Today? discusses the challenges facing the loan servicing industry, including including increasing borrower contact with the goal if increased home retention.
14 Mar 2008
Recently, the Cleveland Plain Dealer featured an in-depth look at the efforts of? the loan servicing industry to?mitigate the potential consequences of?the increasing number of vacant and abandoned properties. With the initial condition of these properties deteriorating (as increasing reports of “property stripping” surface), superior maintenance of these properties is vital to?protect them from ?further damages and return the properties to productive use.
24 Feb 2008
A recent article in The Buffalo News chronicles efforts by the servicing industry to return abandoned properties to productive use.
3 Feb 2008
Interview published in REO Magazine, Dec.-Jan. ’05?
“With wireless technology, inspectors out there in the field can get us answers and results instantaneously, and this has saved our clients a lot of time and money, particularly in the winter months,” says Allan Jaffa, chief operating officer for Safeguard Properties, the nations’s largest mortgage field service provider.
According to Jaffa, the continued progress in technology is helping to preserve the value of properties, and this is extremely beneficial to banks and other mortgage lenders. In the past, Jaffa says, the time lag between mortgage servicers placing orders, having them carried out and then having banks view the work and decide what to do next would in and of itself contribute to wear and tear on a property. And for banks and other holders of property, every second counts in protecting their holdings from a host of factors ranging from weather to vandalism, be it in the presale or the foreclosure processes.
With its 28 member IT team, Safeguard Properties has taken great strides in saving both time and money for its clients. The company has a centralized database of information through which clients can access online at any time any bit of information pertaining to their properties nationwide. The database has photos of properties that are constantly updated, Jaffa says, and every step of the work that has been done on a particular property from a drive-by inspection to more particular work such as winterizing or changing locks is electronically filed, and can be viewed by clients anytime, anywhere.
“Money talks for our clients; we are facilitating communication and making things more efficient for them,” Jaffa says.
“For everyone, from our vendors to our clients, everything is readily available on our database,” agrees Dayan Sapir, VP of client development and relations at Safeguard. “Clients have access to all our information and everything is centralized for both them as well as the contractors.”
Technology continues to develop and its importance to the property preservation business is being increasingly recognized. To be sure, this business has taken on a life of its own now, and recently, Safeguard Properties organized the first-ever property preservation conference in Washington, D.C., a seminal event that brought together officials from around the country to discuss pertinent topics and find ways to work together even more efficiently in the coming years.
1 Dec 2004
Published in REO Magazine, Sep. ’04
National Property Preservation Conference 2004
November 3-5, 2004 The Mayflower Hotel Washington D.C.
REO Magazine will be heading to the nation?s capital to attend the National Property Preservation Conference 2004, hosted by Safeguard Properties Inc.
The conference is the first two-day event solely devoted to property preservation in the mortgage industry.
?This is an opportunity to bring the entire industry together in one room,? pointed out Robert Klein, president & CEO of Ohio-based Safeguard Properties. ?The conference is an industry wide type of awareness program that will get every body on the same page and in tune with each other.?
Klein, who started his company nearly 15 years ago with no experience in property preservation, decided to host the conference after participating in many other industry events over the years. ?As I was doing these sessions, the interest level grew ? literally on a conference by conference basis,? he noted. ?The feedback that I received was that 1? hour sessions were just not enough time to discuss all the issues related to P&P.?
As one of the largest property preservation companies in the nation with more than 350 employees, Safeguard Properties is well positioned to host this industry event. In planning the event, Klein made sure to put the idea to industry players such as HUD and mortgage servicers.
In particular, Klein feels that the timing of the Property Preservation conference couldn?t be better. He points to HUD?s recent changes with its marketing and management group, which increased from four to five companies to 24 companies.
?As of October 1, there?s an entirely new structure in place that HUD is implementing,? Klein said. ?It?s a very big change for the entire industry, so this is a very timely conference since it will include all M&M companies.?
According to Klein, the conference will address the biggest challenges for property preservation companies: complying with investor guidelines and timelines.
Safeguard Properties is currently finalizing the event agenda and anticipates about 300 participants. ?We?re moving toward making this a town hall meeting type of format,? Klein explained.
1 Sep 2004