Safeguard Properties

Auction.com 2024 Seller Insights Report

Posted on by Safeguard

Industry Update
July 12, 2024

Source: Auction.com 2024 Seller Insights Report

Auction.com, the nation’s leading distressed real estate marketplace, today released its 2024 Seller Insights Report, which shows that most default servicing leaders surveyed in Q2 2024 expect a soft landing in the economy, a continued rise in home prices and a gradual increase in foreclosure volumes in the second half of the year.

Survey respondents identified the rising “hidden” homeownership costs of homeowners insurance and property taxes as the biggest potential risk for triggering higher delinquency rates in 2024.

Slightly more than half (51 percent) of loans in loss mitigation at the time of the survey were expected to permanently perform, according to respondents.

The report was based on a survey of more than 30 key default servicing leaders at the eighth annual Auction.com Disposition Summit in late April.

Respondents included leaders from banks, nonbanks, mortgage asset owners, government agencies and government[1]sponsored enterprises.

“Our partners in the default servicing industry are on the frontlines of any emerging risk in the mortgage market, and we communicate regularly with them to identify those risks and build solutions of value,” said Jason Allnutt, CEO at Auction.com. “Nearly halfway through the year, leaders in this industry are telling us that the risk of rapidly rising delinquencies and foreclosures this year remains low and that they expect a soft landing in the housing market and broader economy despite an expectation that mortgage rates will remain relatively high throughout the remainder of the year.”

 

For full report, please click the source link above.

 

Top 10 States Posting Midyear Declines in Foreclosure Filings

Posted on by Safeguard

Industry Update
July 12, 2024

Source: ATTOM

According to ATTOM’s just released Midyear 2024 U.S. Foreclosure Market Report, a total of 177,431 U.S. properties had foreclosure filings—including default notices, scheduled auctions, or bank repossessions—during the first six months of 2024. This figure represents a 4.4 percent decrease compared to the same period last year, but a 7.8 percent increase compared to the same period two years ago.

ATTOM’s latest foreclosure activity analysis stated that according to ATTOM CEO Rob Barber, “In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” stated Rob Barber, CEO for ATTOM. “In addition, U.S. foreclosure starts also decreased by 3 percent in the first six months of 2024.  These shifts could suggest a potential stabilization in the housing market; however, monitoring these evolving patterns remains crucial to understanding the full impact on the real estate sector.”

Also, according to the report, In the first half of 2024, the states with the greatest increases in foreclosure activity compared to the previous year included South Dakota (up 93 percent), North Dakota (up 86 percent), Kentucky (up 73 percent), Massachusetts (up 46 percent), and Idaho (up 30 percent).

ATTOM’s Midyear 2024 foreclosure analysis also reported that Nationwide 0.13 percent of all housing units had a foreclosure filing.  This equates to one in every 794 housing units having a foreclosure filing in the first half of 2024. The states with the highest foreclosure rates during this period were New Jersey (0.21 percent of housing units with a foreclosure filing), Illinois (0.21 percent), Florida (0.20 percent), Nevada (0.19 percent), and South Carolina (0.19 percent).

According to the report, among the 224 metropolitan statistical areas with a population of at least 200,000, the ones with the highest foreclosure rates in the first 6 months of 2024 were Lakeland, Florida (0.32 percent of housing units with foreclosure filings), Columbia, South Carolina (0.31 percent), Atlantic City, New Jersey (0.28 percent), Cleveland, Ohio (0.27 percent), and Spartanburg, South Carolina (0.27 percent).

 

For full report, please click the source link above.

 

FEMA Major Disaster Declaration – Montana Severe Winter Storm and Flooding

Posted on by Safeguard

FEMA Alert
July 18, 2024  

FEMA has issued a Major Disaster Declaration for the state of Montana to supplement state, tribal, and local recovery efforts in areas affected by a severe winter storm and flooding from May 6-9, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Blaine
  • Chouteau
  • Fergus
  • Fort Belknap Indian Reservation
  • Hill
  • Judith Basin
  • Petroleum
  • Pondera
  • Rocky Boy’s Indian Reservation
  • Teton
  • Toole
  • Wheatland

 

Montana Severe Winter Storm and Flooding (DR-4801-MT)

Map of Affected Areas

List of Affected Zip Codes

 

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 Fire Management Assistance Declaration – Idaho Texas Fire

Posted on by Safeguard

FEMA Alert
July 16, 2024  

FEMA has issued a Fire Management Assistance Declaration for the state of Idaho to supplement state, tribal and local recovery efforts in areas affected by the Texas Fire on July 15, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Latah
  • Nez Perce

 

Idaho Texas Fire (FM-5510-TX)

List of Affected Zip Codes

 

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 Fire Management Assistance Declaration – Nevada Spring Valley Fire

Posted on by Safeguard

FEMA Alert
July 16, 2024  

FEMA has issued a Fire Management Assistance Declaration for the state of Nevada to supplement state, tribal and local recovery efforts in areas affected by the Spring Valley Fire on July 16, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Douglas

 

Nevada Spring Valley Fire (FM-5509-NV)

List of Affected Zip Codes

 

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

Bill Amends Louisiana Law to Address Criminal Trespassing and Squatters

Posted on by Safeguard

Industry Update
July 17, 2024

Full Bill Text:  LA SB466

Effective 8/1/2024, Louisiana Senate Bill 466 will amend Louisiana law to address criminal trespassing and squatters.  This amendment defines “remaining in or upon property” to include situations where an occupant remains on a property for more than five (5) days after being served notice to vacate, a squatter who has been directed to leave, and a person violating a restraining or injunction order.  It allows for a temporary restraining order to be issued without notice when a plaintiff asserts they are being denied use of property they have an ownership, possessory, or lease interest in by someone without a legal interest in the property.

 

Safeguard Properties has created the following list of ‘Best Practices’ to protect properties from instances of squatting.

  1. Secure the Property
    1. Locks and Bolts: Ensure all doors and windows have robust locks.  Use heavy-duty deadbolts and padlocks.
    2. Steel Security Screens and Doors: These are highly durable and difficult to breach, preventing unauthorized access.
  2. Regular Inspections
    1. Frequent Visits: Schedule regular inspections to heck the property’s condition and ensure no on has entered.
    2. Inspection Frequency Adjustment: In high target zip codes, schedule inspections at 14-day intervals instead of monthly.
  3. Visible Security Measures
    1. Security Cameras: Install visible security cameras around the property.  Even non-functional dummy cameras can act as a deterrent.
    2. Alarm Systems: Set up alarm systems that can alert you or local authorities if someone tries to enter.
  4. Maintain the Property
    1. Clean and Clear: Keep the property well-maintained, including mowing the lawn and clearing debris.  A well-kept property appears inhabited and deters squatters.
  5. Legal Measures
    1. Proper Documentation: Ensure all paperwork and ownership documentation is up-to-date and easily accessible in case legal action is needed.
  6. Technological Solutions
    1. Smart Locks and Security Systems: Modern smart locks and security systems can be controlled remotely, allowing for better management of the property’s security.
    2. Motion Sensor Lighting: Installing motion-activated lights can deter squatters by making it difficult to approach a property unnoticed.

To utilize any of the above techniques at a specific property to deter squatters, contact Safeguard Properties.

 

For full report, please click the source link above.


 

 

 

 

 

 

 

 

 

 

 

FEMA Fire Management Assistance Declaration – Montana Horse Gulch Fire

Posted on by Safeguard

FEMA Alert
July 12, 2024  

FEMA has issued a Fire Management Assistance Declaration for the state of Montana to supplement state, tribal and local recovery efforts in areas affected by the Horse Gulch Fire on July 9, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Broadwater
  • Lewis and Clark

 

Montana Horse Gulch Fire (FM-5507-MT)

List of Affected Zip Codes

 

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 Fire Management Assistance Declaration – Arizona Watch Fire

Posted on by Safeguard

FEMA Alert
July 13, 2024  

FEMA has issued a Fire Management Assistance Declaration for the state of Arizona to supplement state, tribal and local recovery efforts in areas affected by the Watch Fire on July 10, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • San Carlos Indian Reservation

 

***Please note, only properties located within the San Carlos Indian Reservation are approved to receive assistance.***

 

Arizona Watch Fire (FM-5508-AZ)

List of Affected Zip Codes

 

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 Major Disaster Declaration – Kansas Severe Storms, Straight-line Winds, Tornadoes, and Flooding

Posted on by Safeguard

FEMA Alert
July 15, 2024  

***LAST UPDATED: 7/31/24***

FEMA has issued a Major Disaster Declaration for the state of Kansas to supplement state, tribal, and local recovery efforts in areas affected by a severe storm, straight-line winds, tornadoes and flooding from April 25-30, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Allen
  • Anderson
  • Bourbon
  • Chautauqua
  • Cherokee
  • Elk
  • Greenwood
  • Linn
  • Morris
  • Neosho
  • Pottawatomie
  • Wilson
  • Woodson

 

Kansas Severe Storms, Straight-line Winds, Tornadoes, and Flooding (DR-4800-KS)

President Joseph R. Biden, Jr. Approved Major Disaster Declaration for Kansas

Map of Affected Areas

List of Affected Zip Codes

 

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 Fire Management Assistance Declaration – Oregon Larch Creek Fire

Posted on by Safeguard

FEMA Alert
July 11, 2024  

FEMA has issued a Fire Management Assistance Declaration for the state of Oregon to supplement state, tribal and local recovery efforts in areas affected by the Larch Creek Fire on July 10, 2024.  The following counties have been approved for assistance:

Public Assistance:

  • Wasco

 

Oregon Larch Creek Fire (FM-5506-OR)

List of Affected Zip Codes

 

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

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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