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Freddie Mac Single Sign-On and Other Enhancements for Servicer Performance Profile

Investor Update
August 7, 2015

We listened to your feedback. To make doing business with us easier, we’ve made several updates to the Freddie Mac Servicer Performance Profile, including single sign-on functionality. Log into the Servicer Performance Profile one time and you can freely navigate to the Manager Series and Freddie Mac Servicer Success Scorecard (Scorecard) without having to log in again.

“What if I bookmarked a direct link to the Scorecard in my browser?” No problem. You can log in through the Scorecard and navigate to other areas of the Servicer Performance Profile without having to log in again.
 
On top of that, we made other enhancements to the Servicer Performance Profile including:

  • Adjustments for Timely REO Notifications Based on Holidays
    When a holiday occurs, use the “next business day” rule when you report a foreclosure sale by the notification due date. Here’s an example:

The calendar holiday is July 4, 2015, but the Freddie Mac observed holiday is July 3, 2015.

Scenario 1

  • REO Sale Date: July 1, 2015
  • Notification Due Date: July 2, 2015
  • Servicer gives notification on: July 6, 2015
  • Compensatory Fee charge : 4 days (July 3 holiday is included)

Scenario 2

  • REO Sale Date: July 2, 2015
  • Notification Due Date: July 6, 2015
  • Servicer gives notification on: July 7, 2015
  • Compensatory Fee charge: 1 day

This change will affect your FC Sales Reported Current Year and FC Sales Reported Last Year reports in Default Reporting ManagerSM.

  • Alternatives to Foreclosure Criteria: Quarter-to-Date Results
    We’ve updated this section of your Scorecard to give you more timely results. The Alternatives to Foreclosure section will display current quarter forecasts and quarter-to-date actual results.
  • New Loan-Level Reports Available
    We are providing a new set of loan-level reports that include denominator loan-level data available to you. Just call Customer Support (800-FREDDIE) or your account manager. The new reports include:
  • Transition to 60+  (Denominator excludes active loans)
  • Cure Efficiency
  • Retention Efficiency
  • Liquidation Efficiency
  • Average Age Past Foreclosure Sale Standard
  • Beyond Timeline Resolution Rate

This is one step closer to providing you all Scorecard loan-level reports at your fingertips. 

  • Changes to Investor Reporting Metric
    We’re updating the calculation for Percent of Ending Hard Rejects to Total Loans in Portfolio. The numerator will now reflect Number of Ending hard edits remaining on the Edits to be Cleared report.

Training and Resources

For More Information
 
Contact your Freddie Mac account manager.

Please click here to view the release online.

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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