Legal League 100 Servicer Summit: The Times Are Changing

Industry Update
April 14, 2016

The theme ringing throughout the Five Star Institute’s 7th Annual Legal League 100 Spring Servicer Summit Thursday in Dallas, Texas, was this: The default servicing industry is rapidly changing.

Several of the keynote speakers and roundtable discussions focused on the changes that have taken place in the mortgage servicing industry since the crisis, and in many cases, in the last year or two.

Five Star Institute President and CEO Ed Delgado opened the event by telling the audience of default servicing attorneys, servicing providers, officials from government agencies, and mortgage servicers that the Legal League 100, which was created in April 2007 in collaboration with Five Star to provide the mortgage banking and default servicing industries with a reliable, results-driven resource, has experienced a shift in strategy. Delgado announced that the Legal League’s focus is now on advocacy and in helping default servicing law firms to be sustainable in today’s landscape, whereas in the past it has been focused on marketing.

“Advocacy is supposed to influence the arc of an industry and become a powerful voice of representation for decisions,” Delgado said. “That is the primary objective of what Legal League is currently about.”

The shift in strategy has resulted in a 20 percent increase in Legal League membership in the last year and representation in as many as 85 percent of states for the first time in the Legal League’s nine-year history, Delgado said.

With the shift in strategy came a change in leadership. Neil Sherman, managing attorney at Detroit-based Schneiderman & Sherman, P.C., is the Legal League’s newly elected chairperson. He replaces outgoing chairperson Glen Rubin, managing partner at Rubin Lublin, LLC.

Other leadership changes include Michelle Garcia Gilbert, managing partner of Gilbert Garcia Group, P.A., taking on the role of vice chairperson, and Roy Diaz, Shareholder, SHD Legal Group, P.A., and David G. Marowske, Senior Litigation Attorney, Potestivo & Associates, P.C., newly elected to Advisory Council general positions. Stephen M. Hladik?, Partner, Hladik, Onorato & Federman, LLP, was elected (uncontested) as the Government Affairs Subcommittee Chairperson.

Jeffrey B. Fisher,? EVP, BP Fisher Law Group; Erin M. Laurito?, Managing Member, Laurito & Laurito, LLC; and Richard Nielson,? Managing Partner of Nielson & Sherry, PSC, were all re-elected to Advisory Council general positions. The newly-elected and re-elected members will join current Advisory Council members Adam Codilis, Codilis and Associates, P.C., and J. Anthony Van Ness, Van Ness Law Firm, PLC.

Breakfast keynote speakers at the Summit were the Honorable Joseph J. Murin, chairman of JJAM Financial Services, co-chairman of Chrysalis Financial Holdings, and former president of Ginnie Mae, and Tod Edel, deputy general counsel and managing director, Fannie Mae.

Murin told the audience that those in the mortgage industry are “fighting a negative perception that is only growing” because of their perceived role in precipitating the financial crisis. The result of this perception is a wave of new regulations to govern the mortgage industry; but this has not necessarily been a good thing. The new regulations are “efforts being made to fix the problem we are perceived to have. But as we know, the road to hell is usually paved with good intentions,” Murin said.

“Much harm is being done right now in the form of unintended consequences all in the name of protecting the consumer,” Murin said. He cited as examples fewer mortgage options, slower closing, tighter credit, and higher costs to originate a mortgage.

Edel spoke about the FHFA’s efforts to fight the growing number of so-called “super-priority lien” cases in which HOAs that foreclose on homes delinquent on HOA dues are attempting to extinguish mortgages owned by Fannie Mae and Freddie Mac. Several states have made super-priority liens legal, notably in Nevada in 2014. Edel said a class action suit was initiated against an HOA in Massachusetts because there were so many cases it was impossible to litigate on a property-by-property basis.

The afternoon keynotes included two representatives from the government: Christopher Dove, Director of Operations, Homeowners Preservation Office. U.S. Department of Treasury; and Diane Thompson, Managing Counsel, Office of Regulations, Consumer Financial Protection Bureau. Dove spoke about the government’s Home Affordable Mortgage Program (HAMP), which was created in response to the crisis to help struggling borrowers avoid foreclosure. The program, which has helped 1.8 million borrowers, will expire at the end of the year. Thompson spoke about the CFPB’s history and said that from the Bureau’s inception through the present, regulating mortgage servicing to prevent predatory practices has been a top priority.

The concluding lunch keynote speaker was Edward Pinto, co-director, International Center on Housing Risk, American Enterprise Institute. Pinto noted that there has been a huge shift in the market from banks to nonbanks, with nonbanks how taking 70 percent of the market. Just four years ago, banks had a 70 percnet market share. The shift from banks to nonbanks in the mortgage space has made mortgage loans considerably more risky, particularly among first-time buyers, Pinto said.

The subjects of the roundtables were centered around adapting to changes in the industry. Subjects included “Letter of the Law: Using New Case Law and Legislation to Find Your Footing,” “Changing Tides: The Evolution of Foreclosure and Loss Mitigation Processes,” “Limiting Liability: The Rising Tide of Litigation in Mortgage Servicing,” “Assessing the Assessment: Charting the Path to a Successful Audit,” “Shifting Perspectives: Alternative Routes and Strategies in Bankruptcy,” “Treading Water: Assessing Law Firm Sustainability,” “Staying the Course: How Not to Run Afoul of the Most Recent Rule Changes,” and “Partners in the Journey: Creating Strong Client-Attorney Relationships.”

Editor’s note: The Five Star Institute is the parent company of DS News and

Source: DS News



Alan Jaffa

Alan Jaffa is the chief executive officer for Safeguard, 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® finalist in 2013.


Chief Operating Officer

Michael Greenbaum

Michael Greenbaum is the chief operating officer for Safeguard. Mike has been instrumental in aligning operations to become more efficient, effective, and compliant with our ever-changing industry requirements. Mike has a proven track record of excellence, partnership and collaboration at Safeguard. Under Mike’s leadership, all operational departments of Safeguard have reviewed, updated and enhanced their business processes to maximize efficiency and improve quality control.

Mike joined Safeguard in July 2010 as vice president of REO and has continued to take on additional duties and responsibilities within the organization, including the role of vice president of operations in 2013 and then COO in 2015.

Mike built his business career in supply-chain management, operations, finance and marketing. He has held senior management and executive positions with Erico, a manufacturing company in Solon, Ohio; Accel, Inc., a packaging company in Lewis Center, Ohio; and McMaster-Carr, an industrial supply company in Aurora, Ohio.

Before entering the business world, Mike served in the U.S. Army, Ordinance Branch, and specialized in supply chain management. He is a distinguished graduate of West Point (U.S. Military Academy), where he majored in quantitative economics.



Sean Reddington

Sean Reddington is the new Chief Information Officer for Safeguard Properties LLC. Sean has over 15+ years of experience in Information Services Management with a strong focus on Product and Application Management. Sean is responsible for Safeguard’s technological direction, including planning, implementation and maintaining all operational systems

Sean has a proven record of accomplishment for increasing operational efficiencies, improving customer service levels, and implementing and maintaining IT initiatives to support successful business processes.  He has provided the vision and dedicated leadership for key technologies for Fortune 100 companies, and nationally recognized consulting firms including enterprise system architecture, security, desktop and database management systems. Sean possesses strong functional and system knowledge of information security, systems and software, contracts management, budgeting, human resources and legal and related regulatory compliance.

Sean joined Safeguard Properties LLC from RenPSG Inc. which is a nationally leading Philintropic Software Platform in the Fintech space. He oversaw the organization’s technological direction including planning, implementing and maintaining the best practices that align with all corporate functions. He also provided day-to-day technology operations, enterprise security, information risk and vulnerability management, audit and compliance, security awareness and training.

Prior to RenPSG, Sean worked for DMI Consulting as a Client Success Director where he guided the delivery in a multibillion-dollar Fortune 500 enterprise client account. He was responsible for all project deliveries in terms of quality, budget and timeliness and led the team to coordinate development and definition of project scope and limitations. Sean also worked for KPMG Consulting in their Microsoft Practice and Technicolor’s Ebusiness Division where he had responsibility for application development, maintenance, and support.

Sean is a graduate of Rutgers University with a Bachelor of Arts and received his Masters in International Business from Central Michigan University. He was also a commissioned officer in the United States Air Force prior to his career in the business world.


General Counsel and Executive Vice President

Linda Erkkila, Esq.

Linda Erkkila is the general counsel and executive vice president for Safeguard and oversees the legal, human resources, training, and compliance departments. Linda’s responsibilities cover regulatory issues that impact Safeguard’s operations, risk mitigation, enterprise strategic planning, human resources and training initiatives, compliance, litigation and claims management, and 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. Her practice spans over 20 years, and Linda’s experience covers regulatory disclosure, corporate governance compliance, risk assessment, executive compensation, litigation management, and merger and acquisition activity. Her experience at a former Fortune 500 financial institution during the subprime crisis helped develop Linda’s pro-active approach to change management during periods of heightened regulatory scrutiny.

Linda previously served as vice president and attorney for National City Corporation, as securities and corporate governance counsel for Agilysys Inc., and as an associate at Thompson Hine LLP. She earned her JD at Cleveland-Marshall College of Law. Linda holds a degree in economics from Miami University and an MBA. In 2017, Linda was named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.


Chief Financial Officer

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard. Joe is responsible for the Control, Quality Assurance, Business Development, Accounting & Information Security departments, and is a Managing Director of SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.

Joe has been in a wide variety of roles in finance, supply chain management, information systems development, and sales and marketing. His career includes senior positions with McMaster-Carr Supply Company, Newell/Rubbermaid, and Procter and Gamble.

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.


AVP, High Risk and Investor Compliance

Steve Meyer

Steve Meyer is the assistant vice president of high risk and investor compliance for Safeguard. In this role, Steve is responsible for managing our clients’ conveyance processes, Safeguard’s investor compliance team and developing our working relationships with cities and municipalities around the country. He also works directly with our clients in our many outreach efforts and he represents Safeguard at a number of industry conferences each year.

Steve joined Safeguard in 1998 as manager over the hazard claims team. He was instrumental in the development and creation of policies, procedures and operating protocol. Under Steve’s leadership, the department became one of the largest within Safeguard. In 2002, he assumed responsibility for the newly-formed high risk department, once again building its success. Steve was promoted to director over these two areas in 2007, and he was promoted to assistant vice president in 2012.

Prior to joining Safeguard, Steve spent 10 years within the insurance industry, holding a number of positions including multi-line property adjuster, branch claims supervisor, and multi-line and subrogation/litigation supervisor. Steve is a graduate of Grove City College.


AVP, Operations

Jennifer Jozity

Jennifer Jozity is the assistant vice president of operations, overseeing inspections, REO and property preservation for Safeguard. Jen ensures quality work is performed in the field and internally, to meet and exceed our clients’ expectations. Jen has demonstrated the ability to deliver consistent results in order audit and order management.  She will build upon these strengths in order to deliver this level of excellence in both REO and property preservation operations.

Jen joined Safeguard in 1997 and was promoted to director of inspections operations in 2009 and assistant vice president of inspections operations in 2012.

She graduated from Cleveland State University with a degree in business.


AVP, Finance

Jennifer Anspach

Jennifer Anspach is the assistant vice president of finance for Safeguard. She is responsible for the company’s national workforce of approximately 1,000 employees. She manages recruitment strategies, employee relations, training, personnel policies, retention, payroll and benefits programs. Additionally, Jennifer has oversight of the accounts receivable and loss functions formerly within the accounting department.

Jennifer joined the company in April 2009 as a manager of accounting and finance and a year later was promoted to director. She was named AVP of human capital in 2014. Prior to joining Safeguard, she held several management positions at OfficeMax and InkStop in both operations and finance.

Jennifer is a graduate of Youngstown State University. She was named a Crain’s Cleveland Business Archer Award finalist for HR Executive of the Year in 2017.


AVP, Application Architecture

Rick Moran

Rick Moran is the assistant vice president of application architecture for Safeguard. Rick is responsible for evolving the Safeguard IT systems. He leads the design of Safeguard’s enterprise application architecture. This includes Safeguard’s real-time integration with other systems, vendors and clients; the future upgrade roadmap for systems; and standards designed to meet availability, security, performance and goals.

Rick has been with Safeguard since 2011. During that time, he has led the system upgrades necessary to support Safeguard’s growth. In addition, Rick’s team has designed and implemented several innovative systems.

Prior to joining Safeguard, Rick was director of enterprise architecture at Revol Wireless, a privately held CDMA Wireless provider in Ohio and Indiana, and operated his own consulting firm providing services to the manufacturing, telecommunications, and energy sectors.


AVP, Technology Infrastructure and Cloud Services

Steve Machovina

Steve Machovina is the assistant vice president of technology infrastructure and cloud services for Safeguard. He is responsible for the overall management and design of Safeguard’s hybrid cloud infrastructure. He manages all technology engineering staff who support data centers, telecommunications, network, servers, storage, service monitoring, and disaster recovery.

Steve joined Safeguard in November 2013 as director of information technology operations.

Prior to joining Safeguard, Steve was vice president of information technology at Revol Wireless, a privately held wireless provider in Ohio and Indiana. He also held management positions with Northcoast PCS and Corecomm Communications, and spent nine years as a Coast Guard officer and pilot.

Steve holds a BBA in management information systems from Kent State University in Ohio and an MBA from Wayne State University in Michigan.


Assistant Vice president of Application Development

Steve Goberish

Steve Goberish, is the assistant vice president of application development for Safeguard. He is responsible for the maintenance and evolution of Safeguard’s vendor systems ensuring high-availability, security and scalability while advancing the vendor products’ capabilities and enhancing the vendor experience.

Prior to joining Safeguard, Steve was a senior technical architect and development manager at First American Title Insurance, a publicly held title insurance provider based in southern California, in addition to managing and developing applications in multiple sectors from insurance to VOIP.

Steve has a bachelor’s degree from Kent State University in Ohio.