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FHA INFO #16-15: Updated Single Family Housing Policy Handbook 4000.1 Offers End-to-End Title II Forward Mortgage Policy Source

Updated 3/17/16: HUD published FHA INFO #16-17 (CORRECTED Maximum LTV Factor at Step 3.F of affected worksheets).

Link to FHA INFO #16-17

Investor Update
March 14, 2016

Whether you are a mortgagee originator or servicer, a nonprofit or governmental entity, or one of the other stakeholders in Federal Housing Administration (FHA) transactions for Title II forward mortgages, there is something for you in FHA’s updated and expanded Single Family Housing Policy Handbook 4000.1 (SF Handbook) published today. With these updates — including the publication of the Claims and Disposition section for Title II forward mortgages and associated registration, approval, and compliance policies in other sections for Real Estate Brokers and Closing Agents — the SF Handbook is now an end-to-end source for almost all Single Family Housing Title II forward mortgage policy. For FHA, this represents a significant step in its goal of making it easier to do business with us.

Multiple previously published sections of the SF Handbook became effective as of today, so that almost all stakeholders in FHA Title II forward mortgage transactions are now able to use the SF Handbook as their single source of Single Family Housing policy for:

  • Obtaining and maintaining FHA approval;
  • Originating almost all Title II forward mortgage products and programs;
  • Obtaining an FHA insurance endorsement;
  • Performing servicing and loss mitigation functions on FHA-insured mortgages; and
  • Understanding and applying quality control practices.

The SF Handbook, dated March 14, 2016, contains technical updates and revisions to existing policy. These updates are listed in the SF Handbook March 14, 2016 Transmittal. As noted in the Transmittal, an additional 200-plus Single Family Housing Mortgagee Letters and other policy documents have been superseded in full by the SF Handbook.

Read more about the SF Handbook’s March 14, 2016 updates, additions, and other SF Handbook changes in FHA’s online article. The FHA Resource Center’s online, searchable Frequently Asked Questions (FAQ) site will be updated over the next several days with new and revised FAQs to reflect policy that became effective on or after March 14, 2016.

Industry Briefing Conference Call on March 22, 2016
Mortgagees and other stakeholders in FHA transactions are invited to attend an industry briefing conference call on March 22, 2016. During this call, FHA subject matter experts will provide a high-level overview of the SF Handbook’s March 14, 2016 updates and additions.

  • Title: SF Handbook March 14 Updates and Additions
  • Date: March 22, 2016
  • Time: 2:00 PM – 3:30 PM (Eastern)
  • Dial-in: (800) 707-9573
  • Access Code: 387881


Quick Links


Single Family Housing Policy Handbook 4000.1 Claims and Disposition Section for Title II Forward Mortgages Published Today

Today, the Federal Housing Administration (FHA) published the Claims and Disposition section for Title II forward mortgages (Claims and Disposition) of its Single Family Housing Policy Handbook 4000.1 (SF Handbook). It becomes effective on September 30, 2016. When effective, the addition of this section — and associated registration, approval, and compliance policies in other sections for Real Estate Brokers and Closing Agents — to the SF Handbook means that mortgagees and other stakeholders in FHA transactions will have a complete, end-to-end set of policies for almost all of their FHA Title II forward mortgage business.

Publication of the Claims and Disposition section follows FHA’s assessment of feedback received on the draft section posted from August 5, 2015 through October 5, 2015. The Claims and Disposition section represents existing FHA policy, revised to conform to the format and style of the SF Handbook. However, the section does contain some policy changes, and mortgagees and others are encouraged to read the section in its entirety as they begin to prepare for the September 30, 2016 effective date.

The Claims and Disposition section was published in the SF Handbook and is now available in portable document format (PDF) form, and will be incorporated into the online SF Handbook on FHA’s Single Family Housing Policy Library on June 30, 2016. Read more in FHA’s online article about the newly published Claims and Disposition section, including details for attending an industry briefing conference call on the Claims section scheduled for March 31, 2016, and the Disposition section scheduled for April 21, 2016.

Quick Links


Resources

  • Contact the FHA Resource Center:
    Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at: www.hud.gov/answers.
    E-mail the FHA Resource Center at answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
    Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.

Source: HUD (FHA INFO #16-15 full version)

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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