Safeguard Properties

Acting Comptroller of the Currency Launches Project REACh Efforts in Detroit

Posted on by Safeguard

Industry Update
February 15, 2022

Source: Office of the Comptroller of the Currency

Acting Comptroller of the Currency Michael J. Hsu joined civic leaders, community advocates, and bankers to launch Detroit REACh.

Project REACh, the Roundtable for Economic Access and Change, brings together leaders from the banking industry, civil rights organizations, business, and technology to identify and reduce barriers that prevent full, equal, and fair participation in the nation’s economy. Detroit REACh is the agency’s third regional effort.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Reading Administration wants to Charge Fee for Vacant Properties

Posted on by Safeguard

Industry Update
February 14, 2022

Source: wfmz.com

Reading City Council heard a proposed plan Monday from the city administration that recommends all vacant homes be charged a registration fee.

Frank Denbowski, Mayor Eddie Moran’s chief of staff, said the city was looking at a 2% vacant property tax, but explained the city would have to charge the fee through a registration process since state law does not permit a city to implement such a tax.

Denbowski said council had a similar draft ordinance in 2008 which never went anywhere.

“It’s simply to protect the public health, safety and general welfare of our city,” Denbowski said. “The goal here is to encourage the restoration of properties to productive use. By having this vacant property registration process, we’d be able to identify vacant properties and have a system in place to try to encourage the restoration to make sure that they are safe buildings.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Freddie Mac Announces 2021 SHARP Award Winners

Posted on by Safeguard

Industry Update
February 15, 2022

Source:  Freddie Mac

Freddie Mac announced the nine winners of its 2021 Servicer Honors and Rewards Program (SHARP)SM, which annually recognizes mortgage loan Servicers for quality servicing, risk management and sustaining homeownership resulting in superior portfolio performance. The winners represent outstanding customer service and positive efforts to prevent and alleviate loan delinquencies.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Ginnie Mae Streamlining Documentation Requirements

Posted on by Safeguard

Industry Update
February 14, 2022

Source:  Valuation Review

In an All-Participants Memorandum, Ginnie Mae issued streamlined documentation requirements for Federal Housing Administration advance loan modifications. The change is due in part to the expansion of digital signature usage on documents in November and the expansion of mortgage-backed securities pools of extended-term mortgages.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FHFA Requests Input on its Strategic Plan

Posted on by Safeguard

Industry Update
February 14, 2022

Source:  The M Report

The Federal Housing Finance Agency has released a draft of its strategic plan for 2022-2026 and is requesting input on the plan from the general public. 

The plan is meant to be a “transparent roadmap” that will guide the agency in its role as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac. 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Foreclosure Filings Spike After CFPB Restrictions Expire

Posted on by Safeguard

Industry Update
February 11, 2022

Source:  National Mortgage Professional

ATTOM’s January 2022 U.S. Foreclosure Market Report shows foreclosure filings were up 29% from a month ago and 139% from a year ago, with a total of 23,204 U.S. properties with foreclosure filings.

Lenders repossessed 4,784 U.S. properties through completed foreclosures (REOs) in January 2022, up 57% from last month and up 235% from last year, marking the seventh consecutive month with an annual increase in completed foreclosures.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

MBA Says Delinquencies Fall Below Historic Levels

Posted on by Safeguard

Industry Update
February 10, 2022

Source:  Mortgage Daily News

A major report on loan performance has confirmed that homeowners are recovering rapidly from the pandemic.  The National Delinquency Survey from the Mortgage Bankers Association put the nationwide rate of non-current mortgage payments at 4.65 percent of outstanding loans at the end of the fourth quarter of 2021. This is down 23 basis points from the third quarter and 208 bps lower than a year earlier. The figure includes delinquent loans that are in forbearance programs.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

NJ Bill would Turn Foreclosed Homes into Affordable Housing

Posted on by Safeguard

Industry Update
February 4, 2022

Source:  northjersey.com

To ensure that housing nonprofits purchasing foreclosed homes commit to transforming blighted structures into affordable housing, lawmakers amended a foreclosure bill in committee Thursday.

Under A793, New Jersey would make it easier for family members or low-income buyers to purchase foreclosed homes by removing barriers in sheriffs sales. Legislators advanced the bill out of the Assembly Community Development and Affairs Committee, a month after the bill died last session without a full chamber vote.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Freddie Mac Sets LIHTC Equity Record with $675 Million in Affordable Housing Investments

Posted on by Safeguard

Industry Update
February 8, 2022

Source:  Freddie Mac

Freddie Mac closed a record $675 million in Low-Income Housing Tax Credit (LIHTC) equity investments in 2021, funding over 4,800 affordable units in diverse and underserved markets across the United States. The investments include a new 162-apartment community near areas devastated by fires in Central California, affordable rental homes for farmworkers in rural Washington and the Yurok Indian Tribe in Northern California, and other affordable housing units in urban areas like Tulsa, Oklahoma and Los Angeles.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

National Delinquency Rate Drops to Pre-Pandemic Levels for the First Time

Posted on by Safeguard

Industry Update
February 8, 2022

Source:  National Mortgage Professional

CoreLogic released its monthly Loan Performance Insights Report for November 2021, which showed that national delinquency dropped below March 2020 levels for the first time since the onset of the pandemic. In November, 3.6% of all mortgages in the United States were in some stage of delinquency, marking a 2.3% decrease compared to the previous year when it was 5.9%.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing our website, you agree to our use of cookies.

x

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.

x

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.

x

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.

x

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.

x

Business Development

Carrie Tackett

Business Development Safeguard Properties