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FHFA: Deputy Director for the Division of Resolutions Announced

Investor Update
November 9, 2020

Source: FHFA

Washington, D.C.  — The Federal Housing Finance Agency (FHFA) today announced that Jason Cave joins the Agency as Deputy Director for the Division of Resolutions (DOR). He replaces DOR head Robert Fishman, who is retiring in December after a distinguished 20-year career in federal service.

“Robert’s leadership has been invaluable to me and to FHFA. His straight-forward advice and management of the conservatorships has helped keep the Enterprises accountable. He is the very definition of public trust,” said Director Mark Calabria. “I am excited to welcome Jason to FHFA where his deep well of experience and knowledge will help position FHFA for success now and into a post-conservatorship environment.”

Cave joins FHFA from the Federal Deposit Insurance Corporation (FDIC), where he served in various roles over the past 27 years, including as Senior Advisor to the Chairman and most recently as Senior Advisor to the Director of the Division of Complex Institution Supervision and Resolution. Cave helped establish the precursor to that Division, the Office of Complex Financial Institutions, which was created to administer new systemic resolution authorities including living wills.

Additionally, Cave has been an active participant in international policy and supervision initiatives and has been a member of the Basel Committee on Banking Supervision, where he negotiated the post-crisis reform package known as Basel III. Cave also served as Chairman of the Basel Committee’s Task Force on Simplicity and Comparability, which introduced key safeguards into international capital standards.

The Division of Resolution was previously named the Division of Conservatorship. In January 2020, the name was changed to reflect DOR’s primary and long-run function and to align FHFA with other safety and soundness regulators. As FHFA moves to responsibly end the conservatorships of Fannie Mae and Freddie Mac, DOR will continue to work with the Enterprises’ boards of directors and senior management to accomplish the goals of the conservatorships. DOR will also develop and oversee FHFA’s resolution responsibilities, such as living wills and other contingency plans that enable the Agency to resolve in a safe, sound, and timely manner issues related to financial stress, instability, and insolvency at FHFA’s regulated entities.

Contacts:

Media: Raffi Williams Raffi.Williams@FHFA.gov / Adam Russell Adam.Russell@FHFA.gov

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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