Safeguard Properties

HUD: FHA INFO #21-49: FHA Catalyst Functionality Updates

Posted on by Safeguard

Investor Update
June 28, 2021

Source: HUD

On June 25, 2021, the Federal Housing Administration (FHA) released enhancements to the the FHA Catalyst: Claims Binder Module as part of FHA’s ongoing efforts to expand its technology capabilities. The platform enhancements provide mortgagees with additional options and flexibilities for claim submissions within FHA Catalyst.

The following functionalities are now available on the FHA Catalyst: Claims Module, which allows mortgagees to:

• Receive notification that prevents duplicate claim submissions.
• Add documents and/or files to an existing claim submission.
• Complete the actions below using an application programming interface (API), a
web based interface:
o Search for a single claim;
o Search in bulk for multiple claims;
o Submit multiple claims;
o Retrieve status on multiple claims;
o Download the status details on each claim made in bulk submissions; and
o Recheck the status on suspended claims.

To support users of the FHA Catalyst: Claims Module, mortgagees should review the updated FHA Catalyst: Claims Module Single Family Forward Claims User Guide.

Mortgagees can request access to modules within the FHA Catalyst platform from the FHA Resource Center by emailing at: answers@hud.gov or calling: 1-800-CALL-FHA (1-800-225-5342).

Quick Links

• FHA Catalyst
www.hud.gov/catalyst

• FHA Catalyst: Claims Module
www.hud.gov/program_offices/housing/FHACatalyst/claimsmodule

Need Support? Contact the FHA Resource Center.

• Visit our knowledge base to obtain answers to frequently asked questions 24/7 at
www.hud.gov/answers.
• E-mail answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to  8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
• Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.

FHFA: Three Staffing Updates Announced

Posted on by Safeguard

Investor Update
June 28, 2021

Source: FHFA

Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced new appointments to the leadership team​ for longtime FHFA staff ​Naa Awaa Tagoe, Daniel E. Coates, and Danielle Walton. Tagoe will now serve as Acting Deputy Director for the Division of Housing Mission and Goals (DHMG), and Coates and Walton will serve in Acting Director Sandra L. Thompson’s Office of the Director with Coates as Senior Advisor to the Director, and Walton as Acting Chief of Staff.

“I am pleased that Naa Awaa, Dan, and Danielle have agreed to take on these new positions. It is my goal to provide as many opportunities as possible to leverage the expertise of FHFA’s world-class staff as we execute on our important mission” said Acting Director Sandra L. Thompson. “All three are experts in mortgage finance and share my dedication to ensuring that all Americans have equal access to safe, decent, and affordable housing.”

Previously, Tagoe served as the Principal Associate Director in the Office of Capital Policy at FHFA. Her team was responsible for regulatory capital policy for the Enterprises. This work included oversight of the Enterprises’ credit risk transfer programs, non-performing loan sales programs, Dodd-Frank Act stress tests, and financial eligibility requirements for approved mortgage insurers, mortgage sellers and mortgage servicers. Prior to joining the predecessor agency of FHFA in 2003, Tagoe held positions with Bear Stearns and Houlihan Lokey. Tagoe earned her bachelor’s degree in Electrical Engineering and her MBA from Stanford University.

Before becoming a Senior Advisor in the Office of the Director, Coates served as a Senior Associate Director at FHFA, where he led a team of economists and financial analysts. His team was responsible for targeted credit and market risk examinations to support the FHFA’s examinations of the Federal Home Loan Banks (FHLBanks). Additionally, Coates led a team of financial analysts who evaluated the financial condition and performance of the FHLBanks. He serves as the Chairman of the FHFA’s Reference Rate Transition Steering Committee, which oversees the FHFA’s regulated entities’ transitions away from LIBOR and other reference rates. Coates is also the FHFA’s representative to the Alternative Reference Rates Committee (ARRC). Before joining FHFA, Coates worked as an economist at the U.S. General Accounting Office and the Federal Housing Finance Board. He earned his Ph.D. (with distinction) in economics from Columbia University, and his MA and BS in economics from the University of Delaware.

Prior to being named Acting Chief of Staff, Walton served as the Director of Stakeholder Relations in FHFA’s Office of Congressional Affairs and Communications. She was responsible for establishing and maintaining consistent and productive relationships with the housing finance industry, consumer and public interest groups, and internal staff. This work included serving as the liaison between stakeholders and the Agency Director, as well as supervising the development strategies to help deliver the Agency’s organizational objectives, stimulate participation in Agency activities and identify concerns. Before joining FHFA, Walton worked for secondary mortgage market participants including Ginnie Mae and Freddie Mac. She holds a Bachelor of Arts from the University of Maryland, College Park.​

Contacts:

​Media: Raffi Williams Raffi.Williams@FHFA.gov / Adam Russell Adam.Russell@FHFA.gov

FHFA: Protecting Borrowers After COVID-19 Moratoriums End

Posted on by Safeguard

Investor Update
June 29, 2021

Source: FHFA

Servicers of Enterprise-backed mortgages will be prohibited from making most first filings for foreclosure before new CFPB rules take effect August 31

 

Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) servicers will not be permitted to make a first notice or filing for foreclosure that would be prohibited by the Consumer Financial Protection Bureau’s (CFPB) Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X Final Rule before the CFPB rule takes effect.

The CFPB final rule prohibits servicers from making a first notice or filing for foreclosure in most cases covered by the rule before December 31, 2021. Servicers will still be able to make a notice or filing for foreclosure on abandoned properties and those that had a foreclosure referral prior to March 2020, along with certain other exceptions. CFPB’s final rule will take effect August 31, 2021. The Enterprises’ moratoriums on single-family foreclosures and real estate owned (REO) evictions will expire on July 31, 2021. Requiring Enterprise servicers to follow the CFPB’s new protections a month before the CFPB rule takes effect will protect borrowers from foreclosure and provides certainty for servicers about Enterprise expectations.

“The COVID-19 pandemic has created many financial challenges for families. Through no fault of their own, many of these families had to rely on COVID-19 forbearance to stay safe in their homes during the pandemic. Today, many families’ finances are improving allowing them to exit forbearance. The protections FHFA is putting in place today will protect vulnerable families as they begin their financial recovery from the impact of the COVID-19 pandemic,” said Acting Director Sandra L. Thompson.

This action is the latest step FHFA has taken to benefit homeowners and the mortgage market during the pandemic. FHFA continues to monitor the effect of the COVID-19 servicing policies on borrowers, the Enterprises and their counterparties, and the mortgage market.  FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit consumerfinance.gov/housing for up-to-date information on their relief options, protections, and key deadlines.​

Contacts:

​Media: Raffi Williams Raffi.Williams@FHFA.gov / Adam Russell Adam.Russell@FHFA.gov

Storms Bring Tornadoes, Flooding to Southeast Michigan

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Disaster Alert
June 28, 2021

Source: Click On Detroit

Additional Resources:

Click On Detroit (Check Out These Photos of Major Flooding Across Metro Detroit)

MLive (4 tornadoes confirmed in Michigan, winds topping 120mph)

Yahoo News (Michigan Governor Declares State of Emergency Over “Extraordinary Flooding)
Associated County ZIP Code List

Approximate locations sustaining structural damage (flooding/tornadoes)

Michigan

Flooding
– Dearborn (48120, 48121, 48122, 48123, 48124, 48126, 48128, 48228)
– Dearborn Heights (Wayne County, 48125, 48127)
– Garden City (Wayne County, 48135, 48136)
– Grosse Pointe (Wayne County, 48215, 48224, 48230, 48236)
– Grosse Pointe Farms (Wayne County, 48230, 48236)
– Grosse Pointe Park (Wayne County, 48230)
– Highland Park (Wayne County, 48203)
– Jefferson Chalmers/Detroit (Wayne County, 48215)
– Rochester Hills (Oakland County, 48306, 48307, 48309)
– Westland (Wayne County, 48185, 48186)

Tornadoes/High Winds
– Ionia (Ionia County, 48846)
– Lake Odessa (Ionia County, 48849)
– Mecosta (Mecosta County, 49332)
– Port Austin (Huron County, 48467)

NOTE: This has not yet been declared a FEMA Disaster.

DETROIT – Communities across Metro Detroit are still dealing with damage from Friday’s storms as more severe weather is expected Saturday.

Friday’s storms left homes flooded and cars stranded. Some are comparing the damage to the 2014 floods in Metro Detroit.

Local 4 News reporter Larry Spruill was live Saturday morning with a closer look at the flood damage.

For full report, please click the source link above.

Biden Nominates Two for Top HUD Roles

Posted on by Safeguard

Industry Update
June 25, 2021

Source: DS News

It’s been a busy week for the Biden Administration as it turned its focus to the housing industry, appointing and nominating new leadership to the agencies governing the industry.

After the appointment of Sandra L. Thompson, a veteran housing and banking regulator, as Acting Director of the Federal Housing Finance Agency (FHFA), President Joe Biden announced nomination of Julia Gordon for Assistant Secretary for Housing, Federal Housing Commissioner, U.S. Department of Housing and Urban Development (HUD); and Dave Uejio for Assistant Secretary for Fair Housing and Equal Opportunity, HUD to further stabilize oversight of the nation’s housing market.

Gordon currently serves as President of the National Community Stabilization Trust (NCST), a non-profit organization that supports neighborhood revitalization and affordable homeownership through facilitating the rehabilitation of residential properties in underserved markets. In addition to managing NCST’s programmatic work, Gordon specializes in federal policy related to homeownership, community development, and the nation’s housing finance system.

“Julia Gordon is the right person at the right time to lead the Federal Housing Administration,” said National Housing Conference (NHC) President and CEO David M. Dworkin. “She is respected across the broad spectrum of stakeholders in the public, private and nonprivate sectors of housing and housing finance. Throughout her remarkable career, she has demonstrated the utmost commitment to housing and homeownership in America.”

Previously, Gordon has served as the Senior Director of Housing and Consumer Finance at the Center for American Progress, Manager of the Single-Family Policy Team at the FHFA, and Senior Policy Counsel at the Center for Responsible Lending. She also has worked in the civil legal aid sector and as a litigation associate and pro bono coordinator at the law firm of WilmerHale. Gordon received her bachelor’s degree in government from Harvard College, and her J.D. from Harvard Law School.

To access full article, please click the source link above.

CFPB: Federal Servicing Regulation Amendments Issued

Posted on by Safeguard

Industry Update
June 28, 2021

Source: CFPB

Additional Resource:

Executive Summary

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today finalized amendments to the federal mortgage servicing regulations to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out and which will help protect mortgage borrowers from unwelcome surprises as they exit forbearance. The amendments will support the housing market’s smooth and orderly transition to post-pandemic operation. The rules issued today will establish temporary special safeguards to help ensure that borrowers have time before foreclosure to explore their options, including loan modifications and selling their homes. The rules cover loans on principal residences, generally exclude small servicers, and will take effect on August 31, 2021.

“As the nation shifts from the COVID-19 emergency to the economic recovery, we cannot be complacent about the dangers we still face,” said CFPB Acting Director Dave Uejio. “An unchecked wave of foreclosures would drain billions of dollars in wealth from the Black and Hispanic communities hardest hit by the pandemic and still recovering from the impact of the Great Recession just over a decade ago.  An unchecked wave of foreclosures would also risk destabilizing the housing market for all consumers. We are giving homeowners the time and opportunity to make informed decisions about the best course of action for them and their families, whether that is seeking a loan modification or selling their home. And we are giving mortgage servicers the flexibility they need to serve homeowners with dignity, while managing an unprecedented volume of borrowers seeking assistance.”

Over seven million homeowners took advantage of COVID-19 hardship forbearance, temporarily pausing the obligation to make their mortgage payments, while they resolved financial insecurity caused by the pandemic and its effects.  Today, just over two million homeowners are still in forbearance, but most of those are projected to be in forbearance for more than a year. Not even during the worst of the Great Recession have so many borrowers been so far behind. Over 3% of all borrowers are now four months or more behind on their mortgages, which is the point when a foreclosure may be initiated.  Once the federal foreclosure moratoria lift, these homeowners are at risk of having foreclosure started as soon as they exit forbearance, with at least 900,000 homeowners projected to exit forbearance between now and the end of the year.

Smooth and Orderly Transition

Today’s new rules will require servicers to redouble their efforts to work to prevent avoidable foreclosures. The rules will:

• Give borrowers a meaningful opportunity to pursue loss mitigation options. As borrowers exit forbearance, they need time to process their current options and consider next steps. As such, to ensure that borrowers can pursue foreclosure avoidance options, servicers must meet temporary special procedural safeguards before initiating foreclosures for certain mortgages through the end of the year.

• Allow mortgage servicers to help borrowers faster. Under the new temporary rule, servicers can offer streamlined loan modifications to borrowers with COVID-19-related hardships without making borrowers submit all the paperwork for every possible option. These streamlined loan modifications cannot increase borrowers’ payments and have other protections built into them. With this flexibility, servicers can get borrowers into affordable mortgage payment plans faster, with less paperwork for both the servicer and the borrower.

• Tell borrowers their options. Servicers will be required to increase their outreach to borrowers before initiating foreclosure and tell borrowers key information about their repayment or other options when they communicate with borrowers who are exiting forbearance or struggling to make mortgage payments.

With these rule changes in place, homeowners exiting forbearance will have the time and support to make the decision that best fits their individual and family needs. Generally, borrowers will have at least three options to bring their mortgages current and avoid foreclosure. Borrowers may:

• Resume regular mortgage payments. Servicers can move a borrower’s missed payments to the end of the mortgage, commonly called “deferral.”

• Lower their monthly mortgage payments. Loan modifications can change the interest rate, principal balance, or length of the mortgage.

• Sell their homes. For homeowners with sufficient equity, a sale may be a possibility. However, long-term forbearance may have significantly eroded borrowers’ equity, and home prices may dip if the market is inundated with home sales.

In some cases, foreclosures are not avoidable. Under the CFPB’s rule, foreclosures will be able to start if the borrower:

• Has abandoned the property;

• Was more than 120 days behind on their mortgage before March 1, 2020;

• Is more than 120 days behind on their mortgage payments and has not responded to specific required outreach from the mortgage servicer for 90 days; or

• Has been evaluated for all options other than foreclosure and there are no available options to avoid foreclosure.

Today’s rule changes are part of the CFPB’s strong partnership with the broader administration to help consumers and foster a smooth and equitable recovery in the housing market. Over the coming months, the CFPB will be working alongside other federal agencies to ensure an orderly transition to the post-pandemic housing market. The CFPB will significantly increase outreach to borrowers to share information about mortgage options, through direct contact as well as working with mortgage servicers and media.

Short-Lived Tropical Storm Danny Fizzles After Landfall

Posted on by Safeguard

Updated 6/29/21: The Orlando Sentinel issued a report offering the latest on Tropical Storm Danny, which made landfall in South Carolina and has since dissipated into unorganized remnants.

Danny Fizzles to Remnants, Hurricane Center Monitoring 2 Waves in Atlantic

Additional Resource:

AL.com (What’s Left of Tropical Storm Danny Bringing Rain to Alabama)

 

Disaster Alert
June 28, 2021

Source: USA Today

NOTE: This has not yet been declared a FEMA Disaster.

A newly formed tropical depression could make landfall later Monday near the Georgia-South Carolina border, according to the National Hurricane Center.

Heavy rainfall and strong gusty winds with dangerous rip currents are forecast for southeast Georgia. Some showers could arrive later Monday morning ahead of the depression’s center.

“Gusty winds are possible with this storm, but the main threat to land will be any persistent downpours where flash flooding is possible, especially in any low-lying and poor drainage areas,” AccuWeather meteorologist Nicole LoBiondo said.

Rough surf and stronger-than-normal rip currents are likely along the Southeast coast as this system churns up the ocean.

If the depression’s wind speed reaches 39 mph this afternoon or evening, it would be named Tropical Storm Danny. If this happens, tropical storm warnings could go into effect or a portion of the Georgia and South Carolina coasts with short notice.

For full report, please click the source link above.

VA: Circular 26-21-10: Relief for Borrowers Affected by COVID-19

Posted on by Safeguard

Investor Update
Jun 25, 2021

Source: VA

1. Purpose. The purpose of this Circular is to update servicers on how to assist borrowers who are affected by the COVID-19 national emergency. This Circular also announces updates regarding COVID-related forbearances and foreclosure and eviction moratoriums.

2. Background. Consistent with VA’s longstanding policies, servicers must continue to work with VA and borrowers to consider all possible options to help borrowers retain their homes, or when that is not feasible, to mitigate losses by pursuing alternatives to foreclosure. Before loan termination, VA conducts a review of the loan information to help ensure that the borrower has received reasonable opportunity to retain home ownership and avoid foreclosure. When a servicer reports a Foreclosure Sale Date Scheduled event via the VA Electronic Reporting Interface (VALERI), VALERI automatically initiates a Pre-Foreclosure Review and assigns the case to a VA technician. The technician performs a thorough review of the case and assists the borrower with pursuing home retention options and, in cases where such options are not feasible, alternatives to foreclosure.

3. Action. Servicers are to continue reporting the Electronic Default Notification with “National Emergency Declaration” as the reason for default in cases where borrowers are financially affected by the COVID-19 national emergency. Additionally, servicers are to continue to make every reasonable effort to assist borrowers who are experiencing financial difficulties due to the national emergency. These efforts, which must be documented in servicers’ loan systems, include a servicer review of relevant loan files and consideration of all possible home retention options and alternatives to foreclosure.

4. Requesting COVID-Related Forbearance. For borrowers who have not received a COVID-related forbearance as of the date of this Circular, servicers should allow such borrowers to receive a COVID-related forbearance if the borrower makes the request not later than September 30, 2021.

5. Reporting COVID-Related Forbearance. When a borrower requests a COVID-related forbearance, servicers are to use the “National Emergency Declaration” as the reason for default and then report the Special Forbearance event. As mentioned in previous guidance, VALERI can (as of June 1, 2020) accept this reason for default before the 61st day of delinquency.

6. Moratoriums on Foreclosure and Eviction. Due to the ongoing COVID-19 national emergency and its financial effects on borrowers, all properties securing VA-guaranteed loans are subject to moratoriums on foreclosures and evictions through July 31, 2021. The moratoriums include a prohibition on initiation and/or completion of such actions. Properties that previously secured VA-guaranteed loans and are currently in VA’s real estate owned inventory are also subject to the moratoriums. The moratoriums do not apply to vacant or abandoned properties.

7. Homeowner Assistance. The American Rescue Plan Act of 2021 established the Homeowner Assistance Fund (HAF) to provide financial assistance to eligible homeowners who have suffered financial hardships during the COVID-19 national emergency. Qualified expenses may include mortgage payment assistance, mortgage reinstatement, utilities, insurance, and other housing related costs. Additional information on the HAF is available at
treasury.gov.

8. Questions. Any questions regarding this Circular should be submitted via email to valerihelpdesk.vbaco@va.gov.

9. Rescission. This Circular is rescinded July 1, 2023.

By Direction of the Under Secretary for Benefits

Jeffrey F. London
Executive Director, Loan Guaranty Service

USDA: Foreclosure and Eviction Moratorium Extended

Posted on by Safeguard

Investor Update
June 25, 2021

Source: USDA

Additional Resource:

USDA (SFHGLP Temporary Exceptions in Relation to COVID-19)

HUD: More Measures to Help Homeowners Struggling Due to COVID-19

Posted on by Safeguard

Investor Update
June 25, 2021

Source: HUD

WASHINGTON – The Federal Housing Administration (FHA) on Friday announced more measures to help homeowners with FHA-insured mortgages who are struggling financially due to the COVID-19 pandemic. These measures will provide additional, immediate relief while also expanding outreach and home retention options for struggling homeowners who are disproportionately people of color.

“Since President Biden took office, COVID-19 cases and deaths are down by nearly 90 percent, and the economy is rebounding strongly,” said Housing and Urban Development Secretary Marcia L. Fudge. “Importantly, we must continue to take action to ensure that those who may have experienced hardships brought on by COVID-19 have the support they need to remain in their homes. I am pleased that FHA is implementing additional measures to meet this unprecedented challenge and ensure a fair and equitable recovery.”

“These measures are important steps we need to take to ensure that the individuals and families that continue to struggle financially due to COVID-19 have access to effective and meaningful recovery options,” said Principal Deputy Assistant Secretary for the Federal Housing Administration Lopa Kolluri. “We will continue to assess additional solutions to help homeowners in distress keep their homes and avoid future foreclosure where possible.”

Extended Single Family Foreclosure and Eviction Moratoria

In conjunction with the Biden-Harris Administration and other federal agencies, FHA is extending its foreclosure and eviction moratoria for all FHA-insured single family mortgages, except vacant or abandoned properties, through July 31, 2021. This automatic extension is a one-month additional safeguard for those who are struggling to remain in their homes as the nation transitions from relief to recovery.

Further, FHA is continuing its extension of the deadline for first legal action and reasonable diligence timeframes for 180 days after July 31, 2021, to provide servicers with the additional time needed to focus their work on assisting distressed homeowners. This extension excludes vacant or abandoned properties.

Extended COVID-19 Forbearance Request Timeframes

To assist homeowners who remain at risk of falling behind on their mortgage payments due to COVID-19, FHA is extending the time period for homeowners to start new forbearance plans to September 30, 2021. Homeowners who have not previously been in COVID-19 forbearance can request this pause or reduction in mortgage payments. The COVID-19 Forbearance for homeowners who newly request forbearance assistance between July 1, 2021, and September 30, 2021, is for six months.

For homeowners who received a forbearance from their mortgage servicer between July 1, 2020, and September 30, 2020, FHA is providing one additional three-month forbearance extension for those who need and request additional time to recover financially before resuming mortgage payments.

COVID-19 Advance Loan Modification

FHA is also introducing a new home retention option, the COVID-19 Advance Loan Modification (COVID-19 ALM). The COVID-19 ALM will offer significant payment relief to eligible homeowners.

The COVID-19 ALM will be offered to borrowers currently 90 or more days delinquent or at the end of their COVID-19 Forbearance. This new home retention option is for those homeowners whom a 30-year rate and term mortgage modification will bring the mortgage current and will reduce the Principal and Interest portion of their monthly mortgage payment by at least 25 percent.

Mortgage servicers must review their FHA servicing portfolio and offer the new COVID-19 ALM to distressed homeowners with FHA-insured mortgages who have faced a COVID-19 related hardship. To accept the modification, borrowers need to only sign and return the mortgage modification documents to their mortgage servicer.

All loss mitigation options will remain available to borrowers that do not accept the COVID-19 ALM for any reason. Borrowers who cannot make the modified mortgage payments with the COVID-19 ALM or who have other questions should reach out to their mortgage servicer to learn about other options that are available to them.

Home Equity Conversion Mortgage COVID-19 Extensions

To assist seniors with Home Equity Conversion (reverse) Mortgages (HECMs) who have been negatively affected by COVID-19, FHA is extending the ability for these homeowners to request an extension before the servicer may request the loan be called due and payable. For extension requests received between July 1, 2021, and September 30, 2021, servicers must grant homeowners an extension of up to six months.

For HECM homeowners with loans that have already been called due and payable, servicers must approve homeowner requests for an extension for any deadline related to foreclosure and claim submission of up to six months when the request is received between July 1, 2021, and September 30, 2021.

For all HECMs that received an extension between July 1, 2020, and September 30, 2020, FHA is providing one additional three-month extension period if needed, when the homeowner requests this extension from their mortgage servicer.

Homeowners Seeking Assistance

FHA urges those who are behind on their mortgage payments or are having difficulty complying with the terms of their HECM, and have not yet contacted their mortgage servicer, to do so immediately. By contacting their servicer, homeowners can obtain a mortgage payment forbearance or a HECM extension. FHA also urges homeowners to engage with their mortgage servicer when their mortgage servicer contacts them about the new COVID-19 ALM or other loss mitigation home retention options.

Homeowners who are seeking more information on the options available to them should also consider contacting a HUD-approved housing counseling agency.

HUD is committed to removing barriers to homeownership for communities of color, persons with disabilities, and those with limited English proficiency. This includes removing long-standing barriers to obtaining fair housing. These communities have been disproportionately impacted by the COVID-19 pandemic, and HUD will continue to work to:

– Ensure that lenders and others in the real estate industry do not engage in practices that have an unjustified discriminatory effect on communities of color and other protected classes.

– Ensure that forbearance programs are actively and affirmatively marketed to those in the housing market area least likely to be aware of the options, least likely to apply, and to those that face barriers.

– Eliminate or reduce barriers for requesting forbearance.

– Ensure that lenders are aware of how anti-discrimination laws apply to communication with limited English proficient (LEP) households. As of HUD’s 2016 Limited English proficiency guidance, over twenty-five million persons in the United States – approximately nine percent of the population – have limited English proficiency.

– Ensure lenders understand their obligation to make reasonable accommodations for individuals with disabilities, including changes or exceptions to policies, practices, procedures, and services that may be necessary to provide equal opportunities and equal access for individuals with disabilities.

– Recognize that homeowners facing default may be vulnerable to foreclosure rescue scams that often target limited English proficient communities, and other communities of color.

– Ensure lenders are not discriminating in the maintenance and marketing of foreclosed properties. Lenders may not engage in substandard maintenance and marketing of foreclosed properties in communities of color, particularly while properly maintaining and marketing foreclosed properties in predominantly white communities.

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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