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Fannie Mae: Preforeclosure Clear Boarding Clarification

Investor Update
March 29, 2017

Need help with expense reimbursement? Check out the updated job aid

We’ve updated the Servicer Expense Reimbursement Job Aid, which provides operational instructions based on Servicing Guide policies. Updated topics include claim status, property preservation, required documentation, attorney fees and legal costs, property inspections, and changes to line items. Click here for a detailed list of all revised items and specifics about where the revisions were made. Visit the Servicer Expense Reimbursement page for additional training and resources.

Preforeclosure clear boarding clarifications

We released a new allowable for clear boarding on properties in preforeclosure and no longer accept plywood boards as an acceptable boarding solution on property windows. This clarification applies to properties in preforeclosure that secure a Fannie Mae loan (non-HECM). It does not apply to Fannie Mae’s REO properties. For more details, view Preforeclosure Clear Boarding Clarifications.

AAA matrix updates

We have updated the AAA matrix for Massachusetts to reflect a change in the excess fee assigned for completion of a 209 certification. An excess fee request is necessary only if the foreclosure case closed before December 14, 2016. If the case was still active as of that date, preparation of the 209 certification is included in the updated foreclosure allowable fee. To view the updated matrix, visit the Excess Attorney Fee/Cost Guidelines page.

Last chance to attend an investor reporting webinar

It’s not too late, one webinar remains. Learn more about Fannie Mae’s recent changes to investor reporting (hot topics and best practices) by attending a live webinar on Thursday, April 6, at 2 p.m. ET. Register here and visit the Changes to Investor Reporting page for additional resources.

Looking for free loss mitigation training? Sign up for a live webinar

Did you know that Fannie Mae provides participating servicers with free loss mitigation training? Our Know Your Options™ Customer CARE (Connect, Assess, Resolve, and Execute) team will present two live webinars in April. Sign up to learn how to leverage your own servicer model to develop rapport and establish consultative customer relationships, communicate more effectively with borrowers about their options to avoid foreclosure, increase your workout percentage, and more. Register today.

You may also be interested in…

Fannie Mae economists uncover hidden strengths in rural areas
Lenders and economists learn about the surprising opportunities and challenges in rural housing markets. Read more

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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