Safeguard Properties

Historic Winter Storms Cause Frozen and Burst Pipes in Southern U.S.

Posted on by Safeguard

Disaster Alert
February 25, 2021

Source: USA Today

Additional Resources:

KATV ABC 7 (Arkansas Homeowners See Burst Pipes and Flooded Homes from Winter Season)
KFOR NBC 4 (Hundreds of Oklahomans Working to Clean Water Damage from Burst Pipes)
WMBF (‘We Need Some Help:’ Flooding in Bucksport Community Forces Residents Out of Their Homes)

FEMA Winter Storm Declarations (2021):

Louisiana Severe Winter Storm (EM-3556)
Oklahoma Severe Winter Storm (EM-3555)
Oklahoma Severe Winter Storms (DR-4587)
Texas Severe Winter Storm (EM-5554)
Texas Severe Winter Storms (DR-4586)

Approximate locations (according to media outlets) sustaining structural damage/flooding:
*To view associated ZIP codes, click here.

Arkansas

– Jacksonville (Pulaski County)

Oklahoma

– Guthrie (Logan County)
– Oklahoma City (Oklahoma County)

Texas

– Abilene (Taylor, Jones Counties)
– Austin (Travis, Hays, Williamson Counties)
– Dallas (Dallas, Collin, Denton, Kaufman, Rockwall Counties)
– El Paso (El Paso County)
– Houston (Harris, Fort Bend, Montgomery Counties)
– Killeen (Bell County)
– San Marcos (Hays County)
– Tyler (Smith County)

South Carolina

– Bucksport (Horry County)

A historic cold snap in Texas left millions of residents without power in freezing weather, many of whom will soon face costly flood damage, even as rising temperatures offer a respite from the cold.

Reports of frozen and burst water pipes in Texas homes and businesses are widespread, and the upcoming thaw may further open the floodgates – quite literally, experts said.

“It is going to be crazy for a little while down there,” said Paul Abrams, director of public relations at Roto-Rooter Plumbing and Water Cleanup. “I would bet it’s pretty similar to the effects of a hurricane.”

In parts of the country that typically get  freezing temperatures, walls are built thicker and with more insulation, and pipes may be several feet underground or run up through a basement to protect them, Abrams said. In Texas, where pipes are typically weatherized to handle the summer heat, more are on exterior walls or in attics.

For full report, please click the source link above.

FEMA Declared Disaster Oklahoma Severe Winter Storms

Posted on by Safeguard

FEMA Alert Update
May 11, 2021

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Oklahoma affected by severe winter storms that took place February 8-20, 2021. The following additional county has been approved for assistance:

Individual Assistance

  • Muskogee

Oklahoma Severe Winter Storms (DR-4587 Amendment 1)

FEMA Declared Disaster Oklahoma: ZIP Code List

 

FEMA Alert
February 24, 2021

FEMA issued a Presidential Major Disaster Declaration for areas in Oklahoma affected by severe winter storms that took place February 8-20, 2021. The following counties have been approved for assistance:

Public Assistance

  • Statewide (77 Counties)


Individual Assistance

  • Canadian
  • Carter
  • Cherokee
  • Comanche
  • Cotton
  • Hughes
  • Jefferson
  • Le Flore
  • McIntosh
  • Oklahoma
  • Okmulgee
  • Osage
  • Pittsburg
  • Stephens
  • Tulsa
  • Wagoner

Oklahoma Severe Winter Storms (DR-4587)

FEMA Declared Disaster Oklahoma: ZIP Code List

 

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FHFA: Extended COVID-19 Forbearance Period and Moratoriums

Posted on by Ashley Shepherd

Investor Update
February 25, 2021

Source: FHFA

Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced extensions of several measures to align COVID-19 mortgage relief policies across the federal government.

FHFA announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until June 30, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an Enterprise through foreclosure or deed-in-lieu of foreclosure transactions. The current moratoriums were set to expire on March 31, 2021.

FHFA also announced that borrowers with a mortgage backed by Fannie Mae or Freddie Mac may be eligible for an additional three-month extension of COVID-19 forbearance. This additional three-month extension allows borrowers to be in forbearance for up to 18 months.  Eligibility for the extension is limited to borrowers who are in a COVID-19 forbearance plan as of February 28, 2021, and other limits may apply.  Further, COVID-19 Payment Deferral for borrowers with an Enterprise-backed mortgage can now cover up to 18 months of missed payments. COVID-19 Payment Deferral allows borrowers to repay their missed payments at the time the home is sold, refinanced, or at mortgage maturity.

“Borrowers and the housing finance market alike can benefit during the pandemic from the consistent treatment of mortgages regardless of who owns or backs them. From the start of the pandemic, FHFA has worked to keep families safe and in their home, while ensuring the mortgage market functions as efficiently as possible. Today’s extensions of the COVID-19 forbearance period to 18 months and foreclosure and eviction moratoriums through the end of June will help align mortgage policies across the federal government,” said Director Mark Calabria.

These actions are just the latest steps 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

VA: VALERI Servicer Newsflash

Posted on by Safeguard

Investor Update
February 23, 2021

Source: VA

VALERI Downtime – The application will be unavailable on Thursday, February 25, 2021, from 9:00 to 11:59 p.m. EST for maintenance. Users must log out of the system by 8:45 p.m. EST.

Circular 26-21-4 – Approving Forbearance Requests for Veterans Affected by COVID-19, was issued on February 16, 2021, and is located at https://www.benefits.va.gov/HOMELOANS/resources_circulars_valeri.asp.

Circular 26-21-5 – Extended Foreclosure and Eviction Relief for Borrowers Affected by COVID-19, was issued on February 16, 2021, and is located at https://www.benefits.va.gov/HOMELOANS/resources_circulars_valeri.asp.

ServiceNow – Per VA Circular 26-20-39, Transition to ServiceNow as Loan Guaranty Service’s Unified Helpdesk tool, servicers are to submit all technical and policy inquiries in ServiceNow instead of the VALERI Helpdesk. Loan specific inquiries should continue to be directed to the assigned loan technician.

Adequacy of Servicing – The oversight of VA-guaranteed loans is initially completed during the Adequacy of Servicing process. Technicians may reach out to servicers for information regarding the servicing of a VA loan as referenced in M26-4, Chapter 4, section 4.03.

Expenses on Compromise Sales – Claims on loans terminated via compromise sales should not include any expenses (including relocation assistance expenses) that were already paid to the servicer from the sale proceeds on the Closing Disclosure (VA Servicer Handbook M26-4, Chapter 14.04).

Late Transfer of Custody Appeal – Not all rejected Transfer of Custody (TOC) events may be appealed in VALERI. The only instance the appeal link will become available in VALERI to allow servicers to appeal a late reporting of the TOC event is if the business rule “Event must not be reported more than 15 days after” loan termination date is the only rule that failed. If there are other fatal business rule failures in the TOC event, the appeal link in VALERI does not become available. Therefore, servicers should review all failed business rules in the event before contacting the assigned loan technician for assistance.

Special Forbearance Incentive – A forbearance under the CARES Act may not meet the definition of a VA Special Forbearance as outlined in Chapter 5 of the VA Servicer Handbook M26-4, and as a result, it may not be eligible for an incentive payment. If an incentive is denied, servicers may submit an appeal providing supporting documentation. If VA has erroneously paid an incentive on a CARES Act forbearance that was not eligible for an incentive, a bill of collection will be issued to the servicer.

Pre-Approval Submissions – After the pre-approval request is submitted in the Servicer Web Portal, a second VALERI tab will open. Users will need to close the second tab and then refresh the original VALERI screen to populate the Pre-Approval request. Steps and screenshots are available in Servicer Knowledge Article “Pre-Approval Update After February 13, 2021.

HUD: FHA INFO #21-11: COVID-19 Loss Mitigation Policies Webinar

Posted on by Safeguard

Investor Update
February 23, 2021

Source: HUD

Today, FHA is announcing the availability of the pre-recorded webinar that discusses in more detail the various policies outlined in Mortgagee Letter (ML) 2021-05, Extensions of Single Family Foreclosure and Eviction Moratorium, Start Date of COVID-19 Initial Forbearance, and Home Equity Conversion Mortgage (HECM) Extension Period; Expansion of COVID-19 Loss Mitigation Options. This training was previously announced in FHA INFO #21-09, dated February 16, 2021.

FHA servicers and other interested stakeholders in FHA transactions can click here to access this no cost, on demand webinar. The webinar link is also available on the Upcoming Single Family Housing Events and Training page on hud.gov.

Quick Links

• Events and Training: https://www.hud.gov/program_offices/housing/sfh/events

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.

Resource: Eviction, Mortgage and Foreclosure Relief During COVID-19

Posted on by Safeguard

Industry Update
February 19, 2021

Source: Justia

The coronavirus pandemic has led to widespread public health and economic impacts. As a result of shelter in place orders, quarantines, illness, school closures, and other factors related to COVID-19, many people throughout the US have lost work. This has resulted not only in record numbers of unemployment claims, but also in possible housing insecurity for millions due to loss of income.

Federal Housing Protections

The federal government initially responded to this potential housing crisis by implementing protections for tenants and mortgage loan borrowers under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Specifically, tenants renting units in properties with federally backed mortgages could not be evicted or charged penalties for nonpayment of rent for a period of 120 days between March 27 and July 24, 2020.

President Donald Trump then issued an executive order on August 8, 2020 stating an intention to address pandemic-related evictions, but the order did not contain any concrete policies or aid that would prevent them. On September 1, the Trump administration announced a Centers for Disease Control (CDC) order creating a nationwide eviction moratorium for eligible renters, which will be carried out pursuant to the CDC’s authority to combat the spread of disease. Qualifications for the moratorium’s protections include having an expected 2020 income of $99,000 or less for individuals or $198,000 for couples, or having received a stimulus check earlier in the year. This order most recently has been extended through March 31, 2021.

Homeowners are also protected to a certain extent if they have a federally guaranteed mortgage. These mortgages account for over two-thirds of residential mortgage loans across the US. While initial protections under the CARES Act have expired, the administration of President Joseph Biden has extended a foreclosure moratorium for federally guaranteed mortgages through June 30, 2021. Moreover, the Biden administration has extended the mortgage payment forbearance enrollment window to the same date. Borrowers who entered forbearance on or before June 30, 2020 will receive up to six months of additional mortgage payment forbearance in three-month increments.

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

NY Court of Appeals Rules on Foreclosure Deceleration, SOL

Posted on by Safeguard

Industry Update
February 18, 2021

Source: DS News

The State of New York Court of Appeals on Thursday released a decision impacting several cases related to the statute of limitations (SOL) timelines for foreclosures within the Empire State. The Court of Appeals weighed in on the case of Freedom Mortgage Corp. v. Engel, which centered around whether lenders who opt to accelerate through foreclosure may then voluntarily discontinue that action later on, and if so, how that impacts the SOL timeline.

You can read the court’s opinion in full by clicking here.

DS News spoke with Rich Haber, Managing Partner, New York and New Jersey, McCalla Raymer Leibert Pierce, to get his thoughts on why this case is important and what it means for the industry going forward.

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

HUD: Texas Winter Storm Federal Disaster Assistance

Posted on by Safeguard

Investor Update
February 22, 2021

Source: HUD

Foreclosure protections in place for homeowners in Presidentially Declared Major Disaster Areas

 

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for the State of Texas to provide support to homeowners and homebuyers in areas affected by the Severe Winter Storm. On February 19, 2021, President Biden issued a major disaster declaration for the following counties in Texas: Angelina, Aransas, Bastrop, Bee, Bell, Bexar, Blanco, Brazoria, Brazos, Brown, Burleson, Caldwell, Calhoun, Cameron, Chambers, Collin, Comal, Comanche, Cooke, Coryell, Dallas, Denton, DeWitt, Ellis, Falls, Fort Bend, Galveston, Gillespie, Grimes, Guadalupe, Hardin, Harris, Hays, Henderson, Hidalgo, Hood, Jasper, Jefferson, Johnson, Kaufman, Kendall, Lavaca, Liberty, Madison, Matagorda, Maverick, McLennan, Montague, Montgomery, Nacogdoches, Nueces, Orange, Palo Pinto, Panola, Parker, Polk, Rockwall, Sabine, San Jacinto, San Patricio, Scurry, Shelby, Smith, Stephens, Tarrant, Travis, Tyler, Upshur, Van Zandt, Victoria, Walker, Waller, Wharton, Wichita, Williamson, Wilson and Wise.

The President’s declaration allows HUD to offer foreclosure relief and other assistance to impacted families living in these counties. Effective immediately, HUD is:

• Providing immediate foreclosure relief – HUD’s automatic 90-day moratorium on foreclosures of Federal Housing Administration (FHA)-insured home mortgages commenced for the Texas counties covered under the Presidential declaration on the date of the declaration. Additionally, borrowers who cannot make their mortgage payment, are urged to call their loan servicer, the entity to which they make their mortgage payment.

• Making mortgage insurance available – HUD’s Section 203(h) program provides FHA insurance to disaster victims whose homes were destroyed or damaged to such an extent that reconstruction or replacement is necessary. For those that are facing the daunting task of rebuilding or buying another home, Section 203(h) allows eligible borrowers to receive 100 percent financing, including closing costs.

• Making insurance available for both mortgages and home rehabilitation – HUD’s Section 203(k) loan program enables those who have lost their homes to finance the purchase or refinance of a house along with its repair through a single mortgage. It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home. For a list of HUD-approved lenders in your area, use our online search tool.

• Ensuring HUD-approved housing counseling agencies are ready to assist – HUD-approved housing counseling agencies have counselors available to assist those who are impacted by natural disasters to determine assistance needs and available resources. Find a HUD-approved housing counseling agency.

• Making information on housing providers and HUD programs available – The Department will share information with the Federal Emergency Management Agency (FEMA) and the State on housing providers that may have available units in the impacted counties. This includes Public Housing Agencies and owners of HUD-assisted multifamily properties. The Department will also connect FEMA and the State to subject matter experts to provide information on HUD programs and providers.

See notice for Public Housing Agencies on disaster waivers and administrative flexibilities.

Read about these and other HUD programs designed to assist disaster victims.

FEMA Declared Disaster Texas Severe Winter Storms

Posted on by Safeguard

FEMA Alert Update
March 4, 2021

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Texas affected by severe winter storms beginning on February 11, 2021 and continuing. The action closes the incident period on February 21, 2021.

Texas Severe Winter Storms (DR-4586)

 

FEMA Alert Update
February 25, 2021

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Texas affected by severe winter storms beginning on February 11, 2021 and continuing. The following counties have been approved for assistance:

Individual Assistance

  • Atascosa
  • Bandera
  • Brooks
  • Duval
  • Eastland
  • Ector
  • Goliad
  • Howard
  • Jim Hogg
  • Karnes
  • Kleberg
  • Leon
  • Llano
  • Newton
  • Robertson
  • Trinity
  • Webb
  • Willacy

Texas Severe Winter Storms (DR-4586 Amendment 2)

FEMA Declared Disaster Texas: ZIP Code List

 

FEMA Alert Update
February 22, 2021

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Texas affected by severe winter storms beginning on February 11, 2021 and continuing. The following counties have been approved for assistance:

Individual Assistance

  • Anderson
  • Austin
  • Bosque
  • Bowie
  • Burnet
  • Cherokee
  • Colorado
  • Erath
  • Fannin
  • Freestone
  • Gonzalez
  • Grayson
  • Gregg
  • Harrison
  • Hill
  • Houston
  • Hunt
  • Jackson
  • Jim Wells
  • Jones
  • Limestone
  • Lubbock
  • Medina
  • Milam
  • Navarro
  • Rusk
  • Taylor
  • Tom Green
  • Val Verde
  • Washington
  • Wood

Texas Severe Winter Storms (DR-4586 Amendment 1)

FEMA Declared Disaster Texas: ZIP Code List

 

FEMA Alert
February 19, 2021

FEMA issued a Presidential Major Disaster Declaration for areas in Texas affected by severe winter storms beginning on February 11, 2021 and continuing. The following counties have been approved for assistance:

Public Assistance

  • Statewide (254 Counties)

 

Individual Assistance

  • Angelina
  • Aransas
  • Bastrop
  • Bee
  • Bell
  • Bexar
  • Blanco
  • Brazoria
  • Brazos
  • Brown
  • Burleson
  • Caldwell
  • Calhoun
  • Cameron
  • Chambers
  • Collin
  • Comal
  • Comanche
  • Cooke
  • Coryell
  • Dallas
  • DeWitt
  • Denton
  • Ellis
  • Falls
  • Fort Bend
  • Galveston
  • Gillespie
  • Grimes
  • Guadalupe
  • Hardin
  • Harris
  • Hays
  • Henderson
  • Hidalgo
  • Hood
  • Jasper
  • Jefferson
  • Johnson
  • Kaufman
  • Kendall
  • Lavaca
  • Liberty
  • Madison
  • Matagorda
  • Maverick
  • McLennan
  • Montague
  • Montgomery
  • Nacogdoches
  • Nueces
  • Orange
  • Palo Pinto
  • Panola
  • Parker
  • Polk
  • Rockwall
  • Sabine
  • San Jacinto
  • San Patricio
  • Scurry
  • Shelby
  • Smith
  • Stephens
  • Tarrant
  • Travis
  • Tyler
  • Upshur
  • Van Zandt
  • Victoria
  • Walker
  • Waller
  • Wharton
  • Wichita
  • Williamson
  • Wilson
  • Wise

Texas Severe Winter Storms (DR-4586)

FEMA Declared Disaster Texas: ZIP Code List

 

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Emergency Declaration Louisiana Severe Winter Storm

Posted on by Safeguard

FEMA Alert
February 18, 2021

FEMA issued an Emergency Declaration for areas in Louisiana affected by a severe winter storm beginning on February 11, 2021 and continuing. FEMA is authorized to identify, mobilize, and provide at its discretion, equipment and resources necessary to alleviate the impacts of the emergency.  Emergency protective measures for mass care and sheltering and direct federal assistance will be provided at 75% federal funding.

Louisiana Severe Winter Storm (EM-3556)

FEMA Declared Disaster Louisiana: ZIP Code List

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

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