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Freddie Mac: We’re Re-Imagining Servicing with a New Rewards Program, and More

Investor Update
March 4, 2019

Source: Freddie Mac

Announcing Reimagine Servicing – Innovation Starts Here

At Freddie Mac, we believe in loan servicing by, for and about Servicers. Our journey starts with you – we’ve heard your feedback and we’re using it as the foundation for our innovation roadmap.

Today, we’re launching our Reimagine Servicing initiative, a collective effort to transform the servicing landscape. Imagine greater speed and efficiency in our technology applications, improved data quality and collection methods, and simplified processes. We’re committed to innovating new solutions that improve efficiency and minimize credit losses, while making it easier for you to do business with us.

Over the coming weeks and months, we’ll share more about the Reimagine Servicing journey. Please continue to visit our Servicing web page for the latest news and information about specific projects and technology releases that will transform your day-to-day operations.

Together, let’s Reimagine Servicing.

Recognizing You – A New Servicing Rewards Program

As part of our Reimagine Servicing initiative, we’re proud to recognize Servicers for their successes, since success means we’re moving the industry forward together.

We’ve designed the new Freddie Mac Servicer Honors and Recognition Program (SHARP)SM offering well-deserved rewards and public recognition to our top servicing clients. This program recognizes and rewards Servicer performance through defined metrics, benchmarks and requirements.

No Action Required

If you fall into rank groups 1, 2 or 3 and meet the criteria for receiving an annual rank, you are automatically enrolled to receive rewards through Freddie Mac SHARP.

Effective January 1, 2019, Servicer performance under Freddie Mac SHARP is now tied to financial incentives. Based on a Servicer’s Servicer Success Scorecard annual ranking, you are eligible to receive rewards if certain criteria is met (see ranking specifics).

We recently announced Servicing Guide updates (see the December 12, 2018 Guide Bulletin [pdf] for details), which included the following changes to the Scorecard in relation to Freddie Mac SHARP:

•Revising how Servicers are segmented into rank groups

•Amending weights for the default management metrics.

We’ll provide additional information on these changes in the March Servicing Guide update.

Get SHARP

Access your January 2019 Scorecard (released on February 28, 2019) by logging into the Performance Profile. Don’t have access? Sign up here and start finding ways to improve your servicing performance.

Stay sharp with the latest news and information on our new web page. For questions, please contact your Servicing Relationship Manager (SRM).

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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