Safeguard Properties

Mortgage Demand Falls to the Lowest Level in 22 Years

Posted on by Safeguard

Industry Update
June 8, 2022

Source: CNBC

Mortgage rates are back on the upswing, after a brief decline in May, and the housing market is still suffering from a lack of listings. As a result, mortgage demand continues to drop.

Total mortgage application volume fell 6.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand hit the lowest level in 22 years.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.40% from 5.33%, with points rising to 0.60 from 0.51 (including the origination fee) for loans with a 20% down payment.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FHFA Releases GSE’s Equitable Housing Finance Plans for 2022-2024

Posted on by Safeguard

Industry Update
June 8, 2022

Source: Mortgage Orb

The Federal Housing Finance Agency (FHFA) has released Fannie Mae’s and Freddie Mac’s Equitable Housing Finance Plans for 2022-2024.

The plans are designed to complement the initiatives outlined in FHFA’s Strategic Plan: Fiscal Years 2022–2026, that promote Fannie Mae and Freddie Mac’s safety and soundness and foster housing finance markets that provide equitable access to affordable and sustainable housing.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Mayor Evans, Land Bank Celebrate Revitalization of Long-Vacant Home in Susan B. Anthony Neighborhood

Posted on by Safeguard

Industry Update
May 26, 2022

Source: City of Rochester

Mayor Malik D. Evans and members of the Greater Rochester Land Bank today celebrated the successful revitalization of 6 Madison St., a home in the Susan B. Anthony Neighborhood that had been vacant for more than 20 years.

“The revitalization of 6 Madison Street – a story of blight to bright – is a story of perseverance and determination and, most importantly, a story of more to come,” said Mayor Evans. “All across Rochester, we are thinking outside of the box and finding ways to bring new investment to our neighborhoods and give our residents the foundation of a home. This is how we are creating a safe, equitable and prosperous Rochester.”

The home at 6 Madison St. had been vacant since at least 1996 when the City purchased the property in a tax-foreclosure sale. The City made several attempts to sell the property to private investors, but the conditions – including significant deterioration – proved too challenging. The City-owned property was the last remaining vacant home and blighting influence on Madison Street, which attracts thousands of visitors each year to the Susan B. Anthony House and Museum.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

HUD and FHA Plan Events to Amplify Message During National Homeownership Month

Posted on by Safeguard

Industry Update
June 2, 2022

Source: RisMedia

June 2022 marks the 20th anniversary of National Homeownership Month. In alignment with the Biden-Harris Administration’s commitment to increasing homeownership, the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) will hold a series of events throughout the month, the organizations have announced. These events will amplify HUD’s efforts to support potential homeowners, increase housing supply and affordability, and ensure sustainability for existing homeowners, a release stated.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Biden to Send Extra Community Development Grants to Underserved Neighborhoods

Posted on by Safeguard

Industry Update
May 31, 2022

Source: route-fifty.com

As part of his equity agenda, President Biden wants to give the nation’s 100 most underserved areas nearly $2 million apiece in extra Community Development Block Grant funding, which can be used for purposes ranging from increasing affordable housing to renovating local parks.

In addition to helping those communities, Biden hopes the initiative will lead cities to address structural issues, like zoning and permitting laws that hold back economic development.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Freddie Mac Announces Automation of Key Underwriting Criteria

Posted on by Safeguard

Industry Update
May 26, 2022

Source: Freddie Mac

Freddie Mac has unveiled new automated underwriting capabilities that allow lenders to verify assets, income and employment using borrower-approved bank account data. On June 1, 2022, this functionality will be available to mortgage lenders nationwide through the asset and income modeler (AIM) in Freddie Mac Loan Product Advisor® (LPASM), the company’s automated underwriting system.

“This industry-first innovation supports our mission of making sustainable homeownership more affordable and accessible,” said Andy Higginbotham, Freddie Mac Single-Family Chief Operating Officer. “Our AIM suite of services will be instrumental in bringing greater accuracy and efficiency to the underwriting process, which will be critical as the mortgage landscape continues to shift toward greater purchase market activity.”

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Black Knight: Mortgage Delinquency Rate Fell to 2.8 Percent in April

Posted on by Safeguard

Industry Update
May 31, 2022

Source: Mortgage Orb

The national mortgage delinquency rate fell to a new record low in April – just 2.8% of all loans – according to Black Knight’s most recent First Look report.

That’s down 1.3% compared with March and down nearly 40% compared with April 2021.

It was the second consecutive month that the national mortgage delinquency rate hit a new record low.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

States of Emergency: These are the Most Disaster Prone States in the US

Posted on by Safeguard

Industry Update
June 2, 2022

Source: Yahoo! Finance

Hurricane season. Fire season. Flood season. Tornado season.

Those times of year can be far more harrowing in some states than in others. And you’ll want to know which states are more prone to natural disasters whenever you consider relocating, or think about your retirement years.

Though no place is completely safe from nature’s fury, these states tend to get hit hardest and most often. They’re the ones where presidents have declared the most major disasters.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Vacant Zombie Properties Rising in Second Quarter Amid Jump in Foreclosure Activity

Posted on by Safeguard

Industry Update
June 2, 2022

Source: Cision PR Newswire

ATTOM, a leading curator of real estate data nationwide for land and property data, today released its second-quarter 2022 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,304,007) residential properties in the United States sit vacant. That represents 1.3 percent, or one in 76 homes, across the nation.

The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology below). Vacancy data is available for U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/.

The report also reveals that 259,166 residential properties in the U.S. are in the process of foreclosure in the second quarter of this year, up 12.7 percent from the first quarter of 2022 and up 15.9 percent from the second quarter of 2021. This is also the third straight quarter that the count of pre-foreclosure properties has gone up since a nationwide foreclosure moratorium, imposed early during the Coronavirus pandemic, was lifted at the end of July 2021.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Forbearance Falls Below 1 Percent

Posted on by Safeguard

Industry Update
May 23, 2022

Source: doddfrankupdate.com

The Mortgage Bankers Association (MBA) estimated 470,000 homeowners remain in an active forbearance plan bringing the total number of mortgage loans in forbearance below 1 percent. This is according to the MBA’s monthly Loan Monitoring Survey.

According to the survey, the total number of loans in forbearance decreased from 1.05 percent in March, to 0.94 percent as of April 30. The share of Fannie Mae and Freddie Mac loans in forbearance dropped to 0.43 percent. Ginnie Mae loans in forbearance decreased to 1.29 percent; and the forbearance share for portfolio loans and private-label securities declined to 2.15 percent.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

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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