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Fannie Mae Single-Family Servicing News: Announcement SVC-2016-03 and Lender Letters LL-2016-01 & LL-2016-02

Investor Update
April 14, 2016

This Announcement communicates the following updates made to the Servicing Guide:

  • Updates to Selling/Servicing Requirements for Texas 50(a)(6) Mortgage Loans
  • Updates to Loan Level Price Adjustment Refunds
  • Updates to California Publication Requirements


Lender Letter LL-2016-01: Advance Notice of Additional Changes to Future Investor Reporting Requirements

This Lender Letter provides advance notice to the servicer of future changes to Fannie Mae investor reporting requirements.
 
Lender Letter LL-2016-02: Fannie Mae Principal Reduction Modification

This Lender Letter introduces a new mortgage loan modification program, the Fannie Mae Principal Reduction Modification, at the direction of FHFA and in collaboration with Freddie Mac. Details of this program are included in this Lender Letter.

In addition to LL-2016-02, Fannie Mae is also publishing a list of Servicer FAQ’s related to this program.
 
Join Us, Become a Fannie Mae Seller/Servicer

We’ve prepared a new resource to guide lenders through every step of the process to become an approved Fannie Mae seller/servicer. The recorded training tutorial Navigate the Fannie Mae Lender Approval Process, available 24/7, covers the benefits of a direct relationship with Fannie Mae and helps you understand what you can expect throughout the approval process. The course will walk you through the Fannie Mae eligibility requirements, outline the information we will need to consider your application, and give you a run-down on how your sponsor will help guide you through the process. Join us, become an approved Fannie Mae Seller/Servicer. We look forward to doing business with you!
 
Build New Skills with HFI InDepth

With Housing Finance Institute® (HFI™) InDepth, you’ll learn from expert instructors and get your questions answered — all in an online virtual classroom. Register today for an upcoming course:

 

Visit Fannie Mae’s HFI InDepth page today to see the full calendar of classes and to register!
 
Stay Connected

Trending Topics
Here are the hot topics that are currently trending in our social network:

  • This spring, expect higher home prices, says @realtorcom. Here’s why.
  • DYK it’s Financial Literacy Month? Here’s a place your borrowers can learn about the complexities of owning a home.

To get more info on these and other hot topics, please follow us on Twitter.

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