FEMA Alert
March 23, 2020
FEMA issued a Presidential Major Disaster Declaration for areas in Iowa affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on March 17, 2020 and continuing.
Areas approved for Public Assistance: 99 Counties (Statewide)
Iowa COVID-19 Pandemic (DR-4483)
FEMA Declared Disaster Iowa: ZIP Code List
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
March 22, 2020
FEMA issued a Presidential Major Disaster Declaration for areas in Washington affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing.
Areas approved for Public Assistance: 39 Counties (Statewide)
Washington COVID-19 Pandemic (DR-4481)
FEMA Declared Disaster Washington: ZIP Code List
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
March 20, 2020
FEMA issued a Presidential Major Disaster Declaration for areas in New York affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing.
Areas approved for Public Assistance: 62 Counties (Statewide)
New York COVID-19 Pandemic (DR-4480)
FEMA Declared Disaster New York: ZIP Code List
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
March 22, 2020
FEMA issued a Presidential Major Disaster Declaration for areas in California affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing.
Areas approved for Public Assistance: 58 Counties (Statewide)
California COVID-19 Pandemic (DR-4482)
FEMA Declared Disaster California: ZIP Code List
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Investor Update
March 24, 2020
Source: FHFA
SUMMARY: The Federal Housing Finance Agency (FHFA) is adopting a final rule that amends its stress testing rule, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). These amendments adopt the proposed amendments without change to modify the minimum threshold for the regulated entities to conduct stress tests increased from $10 billion to $250 billion; removal of the requirements for Federal Home Loan Banks (Banks) subject to stress testing; and removal of the adverse scenario from the list of required scenarios. These amendments align FHFA’s rule with rules adopted by other financial institution regulators that implement the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) stress testing requirements, as amended by EGRRCPA.
DATES: This rule is effective March 24, 2020.
Investor Update
March 18, 2020
Source: Fannie Mae
All AAA matrices have been updated effective 3/18/2020. Below reflects a detailed list of updates made by jurisdiction. Please review the appropriate jurisdiction-specific AAA matrix for additional details.
All
• Added the following verbiage in the Pro Rata Fees and Milestone Invoicing section:
Updated prorated attorney fees and foreclosure milestone information were announced in Servicing Guide
Announcement (SVC-2020-01). Please reference Servicing Guide E-5-05 for specific information. Servicers are encouraged to implement these policy changes immediately but must do so for invoices law firms submit to servicers on or after June 1, 2020.
• Removed all Bankruptcy Standard Excess Fees for services rendered prior to 11/1/2013 from the following sections:
o Chapter 7 Reaffirmation Agreement
o Chapter 11/12 Proof of Claim (POC) & Plan Review
o Chapter 11/12 Motion for Relief (MFR)
o Chapter 12 Objection to Plan
• Removed Chapter 11 Objection to Plan and Chapter 11/12 Response to Motion to Value from the Standard Excess
Fees – Foreclosure and Bankruptcy section
• Updated the Maximum Fee verbiage for the Additional Pleadings Standard Excess Fee to reflect “$50/$250” in place of
“$50 – $250″to indicate that Fannie Mae will approve either $50 or $250 and not amounts in between
NOTE: There is a Maximum Fee of $400 for motions (only) filed on or after 01/01/2016 in New Jersey only.
• Replaced the existing verbiage in the Notes column for Title Search (Allowable Costs section) with the following:
The title product and any required updates must confirm title to the property and identify all parties that must receive notice of the foreclosure sale. Unless specified by Fannie Mae the initial title product must be an uninsured title search without additional charges for insurance or guarantees or a Limited Trustee’s Sale Guarantee.
The initial title search should not expire, and only eligible title updates will be reviewed for reimbursement.
The title search allowable cost is good for the life of default and resets once the prior default has been cured.
• Replaced the existing verbiage in the Notes column for Title Update (Standard Excess Costs – Foreclosure section) with
the following:
This cost covers an additional title update that is not already included in the allowable title cost*. The firm is required to provide the date(s) and reason(s) for the current request and all prior title updates.
*For referrals prior to 09/01/2018 the allowable title search cost includes all routine title updates.
*For referrals on or after 09/01/2018 the allowable title search cost includes the first 3 updates.
For full announcement, please click source link above.
Disaster Alert
March 19, 2020
Source: Abilene Reporter-News
Additional Resources:
Big Country Homepage.com: (GALLERY: Aerial footage of tornado damage in South Bend, Texas)
Approximate locations sustaining structural damage:
Texas
– Alvord (Wise County, 76225)
– Graham ( Young County, 76450)
– Hamby (Shackleford County, 79601)
– Mulberry Canyon (Taylor County, 79536)
– South Bend (Young County, 76481)
– Tye (Taylor County, 79563, 79603)
NOTE: This has not yet been declared a FEMA Major Disaster.
An overnight storm that spawned multiple tornadoes caused damage west, north and northeast of Abilene, including wind turbines south of Merkel, houses in Tye and vehicles and structures at the Robertson and Middleton prison units near the Jones County line.
The storm rumbled through the area during the first hours of the first day of spring.
A team from the San Angelo office of the National Weather Service surveyed the area Thursday and determined that a tornado had touched down south of Merkel about 1:15 a.m. Thursday, followed by second near Tye at about 1:27 a.m. and a third at the Robertson unit at 1:47 a.m., NWS lead forecaster Patrick McCullough said.
The Merkel and Robertson unit tornadoes were classified as at least EF-2, which have winds of 111 to 135 mph, the NWS said. The Tye tornado was classified as EF-1, with wind speeds of 86 to 110 mph.
Power lines were down, wind turbines toppled and several structures and residences in Mulberry Canyon south of Merkel were damaged, said Sgt. Cliff Griffin with the Taylor County Sheriff’s Office.
The destruction was especially evident around the 5500 block of FM 126 and at County Roads 342 and 344, he said.
The NWS team continues to survey the Tye area.
About 1:30 a.m. Thursday, a Tye police officer spotted a tornado on the ground in the Rister Park area. The tornado traveled east toward Dyess Air Force Base, according to a Tye police social media update.
Dyess AFB reported on social media that the cell passed to the north of the base.
For full report, please click the source link above.
Disaster Alert
March 18, 2020
Source: The Weather Channel
Approximate locations reportedly sustaining minor structural damage:
Utah
– Magna (Salt Lake County, 84044)
– Salt Lake City (Salt Lake County)
Associated ZIP Code List
NOTE: This has not yet been declared a FEMA Major Disaster.
At a Glance
A strong earthquake shook the Salt Lake City area Wednesday morning, leaving tens of thousands of homes and businesses without power and startling many residents who were still asleep in their beds.
There were no immediate reports of injuries or major damage.
“Please stay away from the downtown area while crews assess damage,” Gov. Gary Herbert advised. “Unless you work in public safety, or are an essential employee, remain at home or telework.”
Salt Lake City International Airport was evacuated and remained closed as of about 11 a.m. EST.
The U.S. Geological Survey gave the quake a preliminary rating of 5.7 magnitude and estimated that 2.8 million people likely felt the shaking shortly after 7 a.m. local time.
Weak to very strong shaking was reported in areas including Logan and Provo, according to the USGS shake map, which relies on first-person accounts. Most of the reports of stronger shaking came from closer to the city. The quake was centered near Magna, Utah, about 10 miles west of Salt Lake City, at a depth of about 6 miles, according to the USGS.
“We are receiving earthquake reports from Logan to Riverton. The strongest shaking seems to have been felt around Salt Lake County,” Utah Emergency Management said on Twitter.
For full report, please click the source link above.
FEMA Alert Update
March 30, 2020
FEMA issued an update to a Presidential Major Disaster Declaration for areas in South Carolina affected by severe storms, tornadoes, straight-line winds and flooding that took place February 6-13, 2020.
The following counties are eligible for assistance:
Public Assistance
|
South Carolina Severe Storms, Tornadoes, Straight-Line Winds and Flooding
(DR-4479 Amendment 1)
FEMA Declared Disaster South Carolina: ZIP Code List
FEMA Alert
March 17, 2020
FEMA issued a Presidential Major Disaster Declaration for areas in South Carolina affected by severe storms, tornadoes, straight-line winds and flooding that took place February 6-13, 2020.
The following counties are eligible for assistance:
Public Assistance
|
South Carolina Severe Storms, Tornadoes, Straight-Line Winds and Flooding (DR-4479)
FEMA Declared Disaster South Carolina: ZIP Code List
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Investor Update
March, 12 2020
Source: VA
Additional Resource:
Important Information
Circular 26-20-5 – Special Relief Following Tennessee Severe Storms, Tornadoes, Straight-line Winds, and Flooding, was issued on March 10, 2020. The Federal Emergency Management Agency’s declared disaster counties in Tennessee are Davidson, Putnam, and Wilson. The circular is located at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.
Non-Matching Criteria – If loan origination data on the bulk upload spreadsheet does not match the loan origination data in VALERI, the event will not generate, and the user will receive an error. Effective March 12, 2020, the non-matching criteria logic is updated from requiring four matching data elements to three matching
data elements:
• VA Loan Number and
• Property State and
• Loan Origination Amount (+/– $5,000 variance threshold) or Loan Origination Date (+/– 14-day variance
threshold)
To determine and correct the non-matching data for a successful upload, users must compare the data under the “Baseline” tab to the data entered on the spreadsheet. The WebLGY and Servicer Non-Matching report is available in Analytics to review historical non-matching data.
Claim Detail Results Report – Some users are encountering “Application Error” and/or “Sorry to interrupt” error messages. Until further notice, the temporary workaround to avoid receiving the error message is to select “ALL” in the date filter.
Notice of Value (NOV) Adjustments – If the NOV data is manually adjusted in VALERI, the Transfer of Custody event business rules may not recognize the updated data and cause the event to reject. This issue is scheduled to be corrected as a part of the system release on March 26, 2020.
Cancelled Payments – Cancelled payments cannot be re-issued at this time. This issue is scheduled to be corrected as a part of the system release on April 30, 2020.
Servicer Department Contacts – Servicer administrators are urged to create and maintain accurate points of contact (POC) for each business area by selecting the “MORE” tab and selecting “Servicer Departments.” VA loan technicians rely on this information to complete their tasks timely. Missing or inaccurate POC information may cause delays for both the technician and servicer.
ID.me – Phone number extensions are now accepted in the identity authentication process. Questions related to ID.me must be directed to https://help.id.me/hc/en-us#.
REMINDERS
Accessing VALERI – The new VALERI application must be accessed with the Google Chrome browser.
Contacting VA – Only VALERI system related inquiries should be directed to the VALERI Technical team at valeri.vbaco@va.gov. Loan specific inquiries should be directed to the assigned VA Loan Technician. Policy inquiries should still be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov. Inquiries related to bulk upload issues should be directed to the VALERI Data Quality team at valeridatqauality.vbaspl@va.gov, and should include the uploaded spreadsheet and the auto-generated error message that was received.
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.
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.
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.
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.
Business Development
Carrie Tackett
Business Development Safeguard Properties
