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 additional resource); and
  • Reminding servicers that they may submit payment changes with future effective dates starting on Oct. 28.

For more information, view Announcement SVC-2018-07.

The new expense reimbursement experience is here!

Expense reimbursements are now faster and easier. Starting this week, many expense reimbursement claims no longer require documentation, saving you time and effort in the reimbursement process. (Some claims may be selected for pre-payment manual reviews or post-payment reviews, but documentation will be required only upon request.) Reverse mortgages will be included at a later date. And, coming Sept. 28, the new self-service Expense Reimbursement Dashboard offers a single, centralized reporting location for claims, inquiries, and excess fee decisions. Visit the Servicer Expense Reimbursement page for more information.

MI Factor: Streamlined claims begin Oct. 1

MI Factor is a streamlined approach to the mortgage insurance (MI) claim settlement process designed to save both time and cost without adding risk. Starting Oct. 1, eligible claims with participating MI companies — ARCH/United Guaranty, Genworth, MGIC, and Radian — will be processed under the MI Factor program. Check out the fact sheet to learn more.

Changes to SF Master Servicing communications — coming in November

We’re making small changes in November to how Single-Family (SF) Master Servicing receives your calls and emails. Here’s what you can expect:

1. When calling 1-800-2FANNIE, you will be required to enter a valid servicer number to reach an analyst.

2. When emailing the SF Master Servicing team:

  • You will receive an auto-response if you do not include your servicer number in your email. Reply to the email with your servicer number.
  • You will also receive a case number in your auto-response (this will replace what we currently refer to as the ticket number).
  • You can reach the SF Master Servicing team at (master_servicing@fanniemae.com) or call 1-800-2FANNIE (Option 1, then Option 6). For assistance with our technology applications, contact the Technology Support Center at 1-800-2FANNIE (Option 1, then Option 1) or via web chat, available 24/7 (except major holidays). See the Call Center Reference Guide for details on all available options.

Join us at these upcoming events:

Oct. 1-3 | MBAC 63rd Annual Conference | Asheville, NC

Oct. 14-17 | MBA Annual Convention and Expo 2018 | Washington, DC

Oct. 18-20 | AREAA National Convention | Las Vegas

View more events.

Recent Tweets

Thanks to your input, we’ve given the Desktop Underwriter Findings report a brand new look! See how the updated features and new design should make the report easier for #lenders to use and understand. http://bit.ly/2xCyvUY

Sept. 25

Focus on your safety during #HurricaneFlorence. After the storm passes, know that you have options when it comes to mortgage relief. http://bit.ly/2Q1SV09

Sept. 24

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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