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HUD: Federal Financial Monitor Appointed to Oversee Puerto Rico, U.S. Virgin Islands Disaster Recovery Funds

Investor Update
January 16, 2020 

Source: HUD

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced Robert M. Couch as the Federal Financial Monitor to oversee the grant administration and disbursement process of disaster recovery funds to Puerto Rico and the U.S. Virgin Islands.

“We are glad to have Robert re-join our Department to manage our financial oversight operations in Puerto Rico,” said Secretary Carson. “He has an extensive background with decades of private and public sector experience dealing with financial reporting, risk management, and executing the law. Robert will be an asset in supporting HUD’s mission to continue aiding recovery efforts in Puerto Rico while ensuring that appropriated funds are used in a responsible manner and for their intended purpose.”

“I greatly appreciate the Secretary’s confidence in me,” said Robert Couch. “I share his dedication to the recovery from Hurricanes Irma and Maria, and his determination to ensuring that the funds entrusted to HUD by Congress for the survivors are expended as quickly as possible while still safeguarding against waste, fraud and abuse. I look forward to working with the disaster recovery teams in both locales, and I thank Olga Castellón, the Acting FFM, for paving the way so I can hit the ground running.”

Mr. Couch will join HUD as a career member of the Senior Executive Service. He previously served as HUD’s General Counsel from December 2006 to November 2008 where he acted as the chief legal advisor to the Secretary, Deputy Secretary, and other principal staff, providing advice on federal laws, regulations, and policies affecting HUD programs. Mr. Couch also served as President of the Government National Mortgage Association (Ginnie Mae), Commissioner on the Bipartisan Policy Center’s Housing Commission, and as a member of President George W. Bush’s Task Force on the Status of Puerto Rico.

Prior to his government service, Mr. Couch was President and Chief Executive Officer of New South Federal Savings Bank in Birmingham, Alabama, and acted as General Counsel and Chief Financial Officer of First Commercial Bancshares. He is a former Chairman and Member of the Board of Directors of the Mortgage Bankers Association of America, former President of the Mortgage Bankers Association of Alabama, a Certified Public Accountant (inactive), and a Certified Mortgage Banker (Master Certificate).

In August, HUD announced its intention to appoint a Federal Financial Monitor in response to reports of financial mismanagement and corruption in Puerto Rico. Pending the arrival of Mr. Couch, Ms. Olga Castellón served as the Acting Federal Financial Monitor on all matters relating to overseeing HUD’s Community Development Block Grants-Disaster Recovery efforts in Puerto Rico. She was detailed to this position from the Executive Office for U.S Attorneys (EOUSA) in October 2019.

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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