Safeguard Properties

New State Initiative Offers Info, Resources on Zombie Homes

Posted on by Safeguard

Industry Update
January 19, 2022

Source:  wbfo.org

New Yorkers are getting some help on “zombie” housing from Columbia Law School and its students.

Those vacant and decaying buildings of vague ownership are a problem everywhere in the state, as local governments gradually admit there are problems.

Erie County Clerk Michael Kearns has spent decades on the issue, starting from issues with one home in his South Buffalo neighborhood, to pushing a new law to regulate the problem while in the state Assembly, to helping local government officials figure out what to do.

Now, Columbia Law students have set up a new website with information to help small governments and communities. It’s called the New York State Zombies Initiative.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

HUD Awards $1.4 Million to Support Housing Counseling Programs in New Jersey

Posted on by Safeguard

Industry Update
January 26, 2022

Source:  Insider NJ

The U.S. Department of Housing and Urban Development (HUD) on Monday awarded $51.4 million in housing counseling grants to 177 HUD-approved housing counseling agencies and intermediary organizations. This includes funding to HUD-approved housing counseling agencies that are partnering with Historically Black College and Universities (HBCUs), Hispanic Serving Institutions (HSIs), or other Minority Serving Institutions (MSIs). The funding supports housing counseling agencies in their critical work to stem the tide of the COVID-19 pandemic’s impact on housing, maintain housing stability by helping families with foreclosure and rental eviction prevention, and help families make more informed housing choices. The awards also include funding to further training and education to attract and retain more housing counseling professionals.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Ginnie Mae Removes a Step for Servicers on some FHA Loan Modifications

Posted on by Safeguard

Industry Update
January 24, 2022

Source:  National Mortgage News

New streamlined documentation requirements could make it easier for mortgage companies to quickly help some borrowers with long-term losses of income from the pandemic as temporary payment suspensions end.

The change will allow companies processing some of the tens of billions of dollars worth of newly issued mortgage-backed securities that government agency Ginnie Mae insures each month to skip certain requirements when modifying mortgages to accommodate lower monthly payments.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Freddie Mac: Mortgage Serious Delinquency Rate Decreased in December

Posted on by Safeguard

Industry Update
January 25, 2022

Source:  Calculated Risk

Freddie Mac reported that the Single-Family serious delinquency rate in December was 1.12%, down from 1.24% in November. Freddie’s rate is down year-over-year from 2.64% in December 2020.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

VA Extends Suspension of Certain Property Inspection Requirements for Covid-19 Forbearance Cases

Posted on by Safeguard

Industry Update
January 25, 2022

Source:  JD Supra

In consideration of the COVID-19 national emergency, VA issued Circular 26-20-21 which temporarily suspended certain property inspections on June 8, 2020.  The requirements to perform property inspections for loans before the 60th day of delinquency were temporarily suspended.  The temporary suspension “…only applies to borrowers whose loans are currently in forbearance and were current or had not yet reached the 60th day of delinquency when borrowers requested a CARES Act forbearance.”

The temporary suspension provisions were extended to October 1, 2022 by VA Circular 26-21-27.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

U.S. Foreclosure Activity Drops to an All-Time Low in 2021

Posted on by Safeguard

Industry Update
January 13, 2022

Source: RisMedia

ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosure and distressed properties, today released its Year-End 2021 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 151,153 U.S. properties in 2021, down 29 percent from 2020 and down 95 percent from a peak of nearly 2.9 million in 2010, to the lowest level since tracking began in 2005.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 1.41% in December 2021

Posted on by Safeguard

Industry Update
January 18, 2022

Source: Calculated Risk

The Mortgage Bankers Association’s (MBA) new monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 26 basis points from 1.67% of servicers’ portfolio volume in the prior month to 1.41% as of December 31, 2021. According to MBA’s estimate, 705,000 homeowners are in forbearance plans.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Branford’s New Ordinance will Address Blight, but with Compassion

Posted on by Safeguard

Industry Update
January 8, 2022

Source: Stamford Advocate

The house at 88 Applewood Road looks as if it’s been overtaken by an army of brush and trees, hidden from the road in an otherwise well-kept residential neighborhood.

The house at 558 W. Main St., on the other hand, is highly visible, with thousands of vehicles driving past every day. Drivers can see the gaping holes in its roof, its broken windows and the front entryway that looks like it’s about to collapse.

They are Branford’s most obvious examples of blight, according to Ray Ingraham, R-5, majority leader of the Representative Town Meeting, but the town’s first blight ordinance, which was passed in 2021 and went into effect Jan. 1, is meant to address issues of rundown properties with a sympathetic, not a punitive, approach, he said.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Fannie Mae Launches Free Online Education Course, Empowering Aspiring Homebuyers to Become Confident, Successful Homeowners

Posted on by Safeguard

Industry Update
January 12, 2022

Source: prnewswire.com

Fannie Mae today announced the launch of HomeView™, the company’s new online homeownership education course, to help consumers navigate the mortgage and homebuying process confidently and responsibly. Available free of cost, and accessible online anytime on any device at fanniemae.com/education, HomeView provides comprehensive, easy-to-understand content and resources designed to ensure aspiring homebuyers are well equipped to become more informed and successful homeowners.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FHA Expands Real-Estate Owned Property Purchase Opportunities for Owner-Occupant Buyers

Posted on by Safeguard

Industry Update
January 13, 2022

Source: HUD.gov

The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit bids for the purchase of these homes before they become eligible for purchase by investors. This expansion is the latest action consistent with the Biden-Harris Administration’s housing supply announcement on September 1, 2021, that it would seek to make more HUD-owned properties available to owner-occupants and non-profit organizations.

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