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Fannie Mae: Bringing Simplicity and Certainty to Servicing

Investor Update
January 10, 2018

Come see how we’re bringing simplicity and certainty to servicing

During the MBA National Mortgage Servicing Conference & Expo, stop by our booth in THE HUB. We’ll share with you our innovative solutions for near real-time access to master servicing data, a one and done approach to claims processing, and more. Drop by on Tuesday, Feb. 6 from 6 to 7 p.m., Wednesday, Feb. 7 from 10 a.m. to 6 p.m., and Thursday, Feb. 8 from 10:30 a.m. to 4 p.m. See you in Texas!

Updated criteria for servicer expense reimbursement submissions

New reimbursement criteria have been established for servicer expenses related to foreclosure attorney fees and sale publication costs, property inspections, legal sales tax, and non-recoverable advances. Additionally, line items have been updated in LoanSphere Invoicing™.

For criteria details, review the updated Servicer Expense Reimbursement Job Aid. Refer to the Reimbursement Updates Notification for detailed line item updates and the LoanSphere Line Items Job Aid for a list of all servicer expense categories and subcategories for conventional loans that are available in LoanSphere Invoicing.

You can find servicer expense reimbursement training on the Servicer Expense Reimbursement page.

Make your voice heard on credit score models

We’ve been working with the Federal Housing Finance Agency (FHFA) and Freddie Mac since 2015 to evaluate whether to change the current industry standard credit score model. FHFA has published a Request for Input (RFI) to gather feedback from interested parties potentially impacted by a possible change in our credit score requirements. The Credit Score RFI discusses the credit score models under consideration by FHFA; industry use of credit scores; credit score competition; and operational, timing, and other considerations. It asks for input on credit score usage, operational impacts of the options under consideration, issues related to competition in the credit score market, and possible changes to the tri-merge credit report requirement.

We encourage industry participants to review the RFI and consider providing input. Any change to our credit score requirements will have a significant impact on the industry and will impact all aspects of the loan lifecycle. Please make your opinions known. The deadline to respond to the RFI is Feb. 20, 2018.

Final Duty to Serve Plan now available

We have published our final Duty to Serve Underserved Markets Plan outlining a three-year effort to improve access to affordable housing in three markets facing persistent challenges — manufactured housing, affordable housing preservation, and rural housing. The final Plan reflects extensive input by housing stakeholders, the public, and FHFA. Learn more on our Duty to Serve page.

Join us at these upcoming events:

Jan. 22-25 | MBA Independent Mortgage Bankers Conference | Amelia Island, FL
Feb. 6-7 | Texas MBA Southern Secondary Market Conference | Houston
Feb. 6-9 | MBA National Mortgage Servicing Conference & Expo | Grapevine, TX

View more events.

You may also be interested in…

Our 5 favorite stories from 2017
2017 had a lot of good news for our industry. Here are our favorite posts. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

The net share of Americans who say it’s a good time to buy a home fell 5 percentage points last month and is down 8 points year-over-year. #HPSI
http://bit.ly/2mlFjAF

Jan. 9

Do you know a #housinginnovator? Make sure they know about The Challenge.
http://bit.ly/2qFL80c

Jan. 9

Source: Fannie Mae

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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