Safeguard Properties

<- Return To Featured Resources

Fannie Mae: Servicing Guide Updates; Imminent Default Lender Letter; and More

Investor Update
October 11, 2017

Announcement SVC-2017-09: Servicing Guide Updates

The Fannie Mae Servicing Guide updates continue to support our ongoing efforts to simplify servicing. These changes:

  • Streamline the Selling and Servicing Guides by removing certain topics from Servicing Guide Part A, including electronic records, signatures, and other electronic transactions. These topics will be updated and included in the Selling Guide on Oct. 31.
  • Require pre-approval from Fannie Mae for the reimbursement of publication costs associated with a foreclosure sale that is either rescheduled or restarted and incurs additional publication costs. This change will provide more structure for foreclosure-related expenses.
  • Restructure Servicing Guide B-1-01, Administering an Escrow Account, and F-1-06, Expense Reimbursement, to provide clarifications related to claim of liens, records management, and the Non-Routine Litigation Form (Form 20).

For a summary of key updates in Servicing Guide Announcement SVC-2017-09, view the executive perspectives video presented by Jenise Hight, Director of Servicing Policy, and the executive overview from Carlos Perez, Chief Credit Officer for Single-Family.

Lender Letter LL-2017-08

Today we published Lender Letter LL-2017-08: Updates to Imminent Default Evaluation Conventional Mortgage Loan Modification , which introduces a new imminent default evaluation process. Developed jointly with Freddie Mac at the direction of the Federal Housing Finance Agency, the new process replaces Freddie Mac’s current Imminent Default Indicator model with a simplified process for determining eligibility for a conventional mortgage loan modification. Servicers are encouraged to implement these changes as early as Feb. 1, 2018 and are required to do so no later than July 1, 2018.

See how we’re Building on Certainty at MBA Annual

This year, we’ve made connecting with us at the MBA’s Annual Convention & Expo even easier! See all the ways you can connect with us, find out who our speakers are, and see what’s happening in our booth. Looking forward to seeing you in Denver Oct. 22-25!

Supporting homeowners affected by wildfires

In our ongoing efforts to support victims of disasters, we remind servicers that our disaster policies include support for homeowners whose properties and/or employment have been affected by wildfires or other natural disasters. For details, refer to Servicing Guide chapter D1-3: Providing Assistance to a Borrower Impacted by a Disaster.

A new way to reach Master Servicing starting Nov. 13

Last year, we simplified the way our customers contact us by establishing a single phone line (800-2FANNIE) to consolidate and replace multiple phone numbers at Fannie Mae. As of Nov. 13, we will ensure more of your calls are answered by a live analyst during Fannie Mae business hours, and email responses are provided in a timely manner. You will be able to reach a member of the Master Servicing team directly by calling 800-2FANNIE and selecting the prompts, or via the new email address.

Note: Starting Nov. 13, Master Servicing analysts’ direct phone numbers and email addresses should no longer be used as our new process will be in place. More detailed information will be provided in the coming weeks.

Updated Servicer Expense Reimbursement Job Aid

We have established new reimbursement criteria for servicer expenses related to recording fees for paid-off loans, sheriff’s fees and costs, utilities, and valuations. For details, access the updated Servicer Expense Reimbursement Job Aid on the Servicer Expense Reimbursement page.

AAA matrix updates

The Servicing Guide has been updated today to reflect changes in how we reimburse publication costs incurred during the foreclosure process. These changes apply for the life of the default period and are effective for excess publication costs incurred on or after Jan. 1, 2018, regardless of the foreclosure referral date. Each Attorney Authorization Approval (AAA) Matrix will be updated and published on the Excess Attorney Fee/Cost Guidelines page before the effective date of this policy.

Resources to support borrowers affected by disaster

Visit our Assistance in Disasters page to find guidance for helping borrowers in disaster areas.

Join us at these upcoming events:

Oct. 15-17 | ABA Annual Convention | Chicago
Oct. 22-25 | MBA Annual Convention and Expo | Denver
Dec. 4-5 | MBA Summit on Diversity and Inclusion | Washington, DC

View more events.

You may also be interested in…

New Hampshire has put manufactured housing on solid ground…will other states follow?
Manufactured housing is an increasingly popular, and affordable, housing option. Read more

Encouraging homeownership by easing student loan debt
Refinance option for eligible homeowners who want to tap into home equity to pay down or pay off student loan debt. Read more

Receive regular content updates by registering at The Home Story.

Recent Tweets

Renters express greater home buying optimism in latest Home Purchase Sentiment Index. Details:
http://bit.ly/2hA5rEB

Oct. 10

Did you miss @D2_Duncan’s comment on Friday’s #jobsreport? Here you go:
http://bit.ly/2hYkoUZ

Oct. 9

Source: Fannie Mae

Related Posts

HUD Allocates More than $2 Billion to Advance Equitable Disaster Recovery, Build Climate Change Resilience

The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery and CDBG-Mitigation funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act, signed into law on September 30, 2021.

Read More

HUD Employees Receive Management Excellence Award

A group of U.S. Department of Housing and Urban Development employees on Thursday were awarded the 2021 Samuel J. Heyman Service to America Medals.

Read More

<- Back To Newsroom Next Article ->

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing our website, you agree to our use of cookies.

x

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.

x

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.

x

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.

x

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.

x

Business Development

Carrie Tackett

Business Development Safeguard Properties