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Five States Account for Nearly Half of Completed Foreclosures in Last 12 Months

On October 2, DS News released an article discussing findings published in the August edition of CoreLogic’s National Foreclosure Report.

Five States Account for Nearly Half of Completed Foreclosures in Last 12 Months

Five states accounted for almost half of all completed foreclosures nationwide in the 12-month period ending in August 2014, according to CoreLogic’s August National Foreclosure Report released on Thursday.

Florida (121,000), Michigan (43,000), Texas (36,000), California (32,000), and Georgia (28,000) combined for 260,000 completed foreclosures from September 2013 to August 2014, a total that comprised 45 percent of the nationwide number of 576,000 that occurred during that period, according to CoreLogic.

South Dakota had the lowest number of completed foreclosures in the last 12 months with just 65, according to CoreLogic.  Next were Washington, D.C. (110), North Dakota (295), West Virginia (462), and Wyoming (650).

The Tampa-St. Petersburg-Clearwater, Florida core based statistical area (CSBA) had the highest number of completed foreclosures of any CSBA in the nation for the 12-month period ending in August 2014 with 19,153, according to CoreLogic.  The Tampa CSBA also had the highest foreclosure inventory as a percentage of mortgages of any CSBA in August, with 5.6 percent, and the highest serious delinquency rate of any CSBA in August, with 9.9 percent, according to CoreLogic.

Rounding out the top five CSBAs in total completed foreclosures for the 12-month period ending in August 2014 were Atlanta-Sandy Springs-Roswell, Georgia (16,834), Orlando-Kissimmee-Sanford, Florida (14,375), Chicago-Naperville-Arlington Heights, Illinois (11,341), and Phoenix-Mesa-Scottsdale, Arizona (8,588).

New Jersey topped the list of states with the highest foreclosure inventory as a percentage of mortgages for August with 5.8 percent. Florida (4.6 percent), New York (4.2 percent), Hawaii (3.0 percent), and Maine (2.7 percent) rounded out the top five, CoreLogic reported.

The five states with the lowest foreclosure inventory as a percentage of mortgages in August were Nebraska (0.4 percent), Alaska (0.5 percent), Arizona (0.5 percent), North Dakota (0.5 percent), and Wyoming (0.5 percent), according to CoreLogic.

CoreLogic reported that 36 states had a foreclosure inventory percentage lower than the national rate in August, which was 1.6 percent. Twenty-eight states reported a year-over-year decline in foreclosure inventory of 30 percent or more in August, according to CoreLogic.  The two states with the largest year-over-year decline in foreclosure inventory were Utah and Idaho, each with 46 percent each.

Please click here to view the article online.

Please click here to view the CoreLogic National Foreclosure Report [pdf].

About Safeguard 
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally.
Website: www.safeguardproperties.com.
 

 

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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