Safeguard Properties

Strong Winter Storm Moving Across Country

Posted on by Safeguard

Updated 2/25/20: ABC News issued a report offering the latest on strong winter storm that is expected to bring substantial snow accumulations to multiple states.

Winter Storm Moving East with Heavy Snow

Disaster Alert
February 24, 2020

Source: ABC News

Additional Resource:

KIRO 7 (Strong winds bring down trees, power lines across Western Washington)

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

13 states from Washington to Illinois are on alert for heavy snow and flooding.

Two storm systems moving out of the West will combine into a Winter Storm in the middle of the country and could bring the biggest snowstorm of the season to parts of Midwest.

Already on Sunday, the northern storm brought damaging winds up to 50 mph in Seattle where trees were reported down on homes, critically injuring a person.

In Colorado, the southern storm brought heavy snow of up to 10 inches that caused accidents on the roads on Sunday.

As these storms move east, 13 states from Washington to Illinois are on alert for heavy snow and flooding.

This morning, the southern storm is already in the Plains and bringing rain ahead of it for most of the South and Mid-Mississippi River. Flooding is also possible in the Plains today as this heavy rain moves through.

To the north, heavy snow is falling in the northern Rockies from Idaho to northern Colorado.

By Tuesday morning, the storms should begin to combine in the Midwest and spread heavy rain all the way to the East Coast.

For full report, please click the source link above.

FHA INFO #20-15: Proposed CWCOT Enhancements

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Investor Update
February 24, 2020 

Source: HUD

Today, the Federal Housing Administration (FHA) announced that it has posted on its Single Family Housing Drafting Table, proposed enhancements to its Claims Without Conveyance of Title (CWCOT) program. All FHA-approved mortgagees, servicers, and other interested stakeholders are invited to review the posted content and provide feedback on the proposed program updates through March 9, 2020.

Originally piloted in 2013, CWCOT is an FHA claim option through which insurance benefits are paid to a mortgagee after the sale of the property to a third party at foreclosure of the FHA-insured mortgage or through a second chance sale. This means there is no conveyance of the property to the Department of Housing and Urban Development in exchange for payment of the mortgage insurance benefit.

While FHA’s CWCOT program has enjoyed success to date, the agency has identified several key areas for improvements to the existing program that could make it even more viable for foreclosure sales associated with defaulted FHA-insured mortgages going forward.

As previously mentioned, FHA is seeking feedback on the proposed CWCOT program enhancements posted on the Drafting Table. Once the two-week feedback period ends, FHA will carefully consider the responses received and — if and/or where applicable — incorporate that feedback into a final CWCOT policy document to be published at a later date.

Instructions for providing feedback are posted on the Drafting Table. Additionally, interested stakeholders can go to www.hud.gov/answers or call the FHA Resource Center at 1-800-CALLFHA (1-800-225-5342) for more information. Persons with hearing or speech impairments may reach the FHA Resource Center via TTY by calling the Federal Relay Service at 1-800-877-8339.

Quick Links
• View the proposed enhancements to FHA’s CWCOT program on the Single Family Housing Drafting Table at: https://www.hud.gov/program_offices/housing/sfh/SFH_policy_drafts

Resources
Contact the FHA Resource Center:
• Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at:
www.hud.gov/answers.
• E-mail the FHA Resource Center at: 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.

Erie County Introduces “ZOMBIE Watch”

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Industry Update
February 22, 2020

Source: WBEN

Additional Resources:

Erie County Clerk’s Zombies Initiative

WKBW ABC (Erie County Taking Steps to Identify Vacant Property Stakeholders)

Erie County Clerk partners with WNY Law Center to combat neglected properties

CLARENCE, N.Y. (WBEN) – The latest initiative to combat zombie properties has been unveiled by the Erie County Clerk.

The Erie County Clerk’s ZOMBIES Initiative is intended to address vacant or abandoned homes, specifically with those that still have a mortgage.

Erie County Clerk Mickey Kearns announced the partnership with the Western New York Law Center to identify vacant and abandoned properties and to have them addressed through maintenance and repair.

“One of the things we noticed is that we get a lot of complaints in from neighbors and we wanted to be more proactive in making sure they know what’s happened with these houses,” Kate Lockhart, Director of the WNY Law Center’s Vacant and Abandoned Property Program, said. “That’s why we’re rolling out the Zombie Watch program. We’re putting signs in front of properties so neighbors know where to file complaints.”

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

Safeguard Properties Enhances Controls Around Scheduled Inspections

Posted on by Safeguard

News Release
February 18, 2020

Valley View, OH, February 18, 2020 — Safeguard Properties, the mortgage field services industry leader, has developed enhanced controls surrounding insurance loss and other scheduled inspections through its proprietary SafeView Field Services platform.

Utilizing SafeView Inspect, our integrated mobile inspection application, inspectors attempting to contact property occupants to schedule an inspection service are required to document proof of phone calls, voicemail messages and any other efforts to reach out. This eliminates any confusion regarding the inspector’s attempts to schedule the inspection.

Safeguard Scheduled Inspections (video)

The video linked above offers an overview of the enhancements Safeguard has developed.

“By adding controls around this process, we are able to provide clients the most up-to-date information regarding contact attempts and, ultimately, the condition of their assets,” said Alan Jaffa, CEO of Safeguard Properties. “Innovations like this allow us to maintain the high level of customer service and quality results our clients expect from Safeguard.”

SafeView Inspect provides full-service field support for our nationwide inspector network. In addition to the new scheduled inspections controls, the app utilizes geolocation technology to confirm the correct property, allows inspectors to obtain required photo documentation with tagged metadata, and applies smart scripting technology to ensure all vital property data is captured.

Those attending MBA’s Servicing Solutions Conference & Expo on Feb. 23-26 in Orlando, can learn more about these and all of Safeguard’s enhancements by stopping by Booth #601 or scheduling a meeting with Tim Rath at tim.rath@s.safeguardproperties.com.

About SafeView
SafeView is Safeguard Properties’ workflow management software designed to meet the ever-changing requirements of the field services industry. SafeView utilizes a dynamic rules-based engine to provide order processing, routing, invoicing and reporting services to ensure quality results.

About Safeguard
Safeguard Properties is the mortgage field services industry leader, inspecting and preserving vacant and foreclosed properties across the U.S. With a focus and investment in innovative technologies, Safeguard provides the highest quality service to our clients by proactively developing industry best practices and quality control procedures. We pride ourselves in our dedication to working with community leaders and officials to eliminate blight and stabilize neighborhoods across the country. Learn more at www.safeguardproperties.com.

Contact
Megan Greenwalt, corporate communications
800-852-8306, ext. 1870
megan.greenwalt@s.safeguardproperties.com

Media sharing in this news:
DS News (Safeguard Develops Platform for Inspections)

MortgageOrb (Safeguard Properties Enhances SafeView Field Services Platform)

President Trump Announces Nomination for Federal Housing Commissioner

Posted on by Safeguard

Industry Update
February 20, 2020

Source: The White House

Today, President Donald J. Trump announced his intent to nominate the following individual to a key position in his Administration:

Dana T. Wade of the District of Columbia, to be the Assistant Secretary for Housing, Federal Housing Commissioner.

Mrs. Wade was previously the Acting Federal Housing Commissioner and Assistant Secretary for Housing from July 2017 to June 2018.  In this capacity, she oversaw over 2,400 employees and implemented enhanced risk management and monitoring of the Federal Housing Agency’s $1.3 trillion portfolio.  Wade also served as a Program Associate Director for General Government at the Office of Management and Budget from December 2018 to December 2019, where she led budget oversight for six Executive Branch agencies with a keen focus on financial services, including the Department of Housing and Urban Development, and multiple independent agencies. She has also held some of the most senior staff positions in Congress, serving as the Deputy Staff Director for the United States Senate Committee on Banking, Housing, and Urban Development and the Republican Deputy Staff Director for the United States Senate Committee on Appropriations under Senator Richard Shelby (R-AL). Wade holds an MBA from the Wharton School at the University of Pennsylvania and a BA in Economics from Georgetown University.

FHA INFO #20-13: Training Opportunities

Posted on by Safeguard

Investor Update
February 14, 2020 

Source: HUD

—There is no charge for training courses and webinars offered by the Federal Housing Administration —

Course Title: NEW FHA Quality Assurance Update: Q1 2020

Date/Time: Wednesday, February 26, 2020, 2:00 PM – 3:30 PM (Eastern)

Event Location: Online Webinar – No Fee

Jurisdictional Host: Office of Lender Activities and Program Compliance

Registration Link: https://easthillmedia.zoom.us/webinar/register/WN_Iqn2FsCzSJubiCbrbK3bRA

Description:
This free, online webinar will provide an update on the Federal Housing Administration’s (FHA) quality assurance results for the most recent quarter, as well as specific information on how lenders can access reports and data through the Loan Review System (LRS). There will also be a live Question and Answer session at the end of the webinar.

Audience:
Although open to all stakeholders, this webinar is primarily for compliance, risk management, and quality control staff for FHA-approved mortgagees.

Special Instructions:
Advance registration is required no later than February 25, 2020. Registered attendees will receive a link via email to access the webinar and other details with their registration confirmation.

Resources
Contact the FHA Resource Center:
• Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at: www.hud.gov/answers.
• E-mail the FHA Resource Center at: 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: Foreclosure Prevention Report – November 2019

Posted on by Safeguard

Investor Update
February 14, 2020

Source: FHFA

November 2019 Highlights — Foreclosure Prevention

The Enterprises’ Foreclosure Prevention Actions:

• The Enterprises completed 8,156 foreclosure prevention actions in November, bringing the total to 4,398,274 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.

• There were 4,851 permanent loan modifications in November, bringing the total to 2,384,609 since the conservatorships began in September 2008.

• Twenty-eight percent of modifications in November were modifications with principal forbearance. Modifications with extend-term only accounted for 63 percent of all loan modifications during the month.

• There were 424 short sales and deeds-in-lieu of foreclosure completed in November, down 17 percent compared with October.

The Enterprises’ Mortgage Performance:

• The serious delinquency rate decreased slightly from 0.65 percent at the end of October to 0.64 percent at the end of November.

The Enterprises’ Foreclosures:

• Third-party and foreclosure sales decreased 13 percent from 3,174 in October to 2,763 in November.

• Foreclosure starts decreased slightly from 9,678 in October to 9,662 in November.

November 2019 Highlights — Refinance Activities

• Total refinance volume decreased in November 2019 as mortgage rates rose in previous months but remained near lows last observed in 2015. Mortgage rates increased in November: the average interest rate on a 30-year fixed rate mortgage rose to 3.70 percent from 3.60 percent in October.

• The percentage of cash-out refinances increased to 40 percent in November but remained well below the peak observed in late 2018. Mortgage rates have fallen from the highs observed a year ago to lows last observed in 2015, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.

• In November 2019, 3 refinances were completed through the High LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 7.

Attachments: Foreclosure Prevention, Refi and FPM Report-Nov 19

MHA: Presidents’ Day Holiday Support and System Availability

Posted on by Safeguard

Investor Update
February 12, 2020

Source: MHA

In observance of the Presidents’ Day Holiday, the HAMP Reporting System response files will not be available between 4:00 p.m. ET on Friday, February 14, 2020 and 9:00 a.m. ET on Tuesday, February 18, 2020; the response files will be sent as soon as the system is available.

During this timeframe, the HAMP Reporting Tool will be available for servicers to submit and upload HAMP loan data files, and the corresponding Black Knight response files will be provided as usual.

The HAMP Solution Center will be closed on Monday, February 17, 2020 and will resume monitoring of the support@hmpadmin.com mailbox at 9:00 a.m. ET on Tuesday, February 18, 2020.

VA: VALERI Servicer Newsflash

Posted on by Safeguard

Investor Update
February, 14 2020

Source: VA

Important Information

Circular 26-20-2 – Special Relief Following Puerto Rico Earthquakes, was issued on January 23, 2020. The Federal Emergency Management Agency’s declared disaster counties are: Adjuntas, Arecibo, Cabo Rojo, Ciales, Corozal, Guanica, Guayanilla, Hormigueros, Jayuya, Juan Diaz Lajas, Lares, Las Marias, Maricao, Mayaguez, Morovis, Orocovis, Penuelas, Ponce, Sabana Grande, San German, San Sebastian, Utuado, Villalba, and Yauco. The circular is located at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.

Inactive User Deactivation – Beginning February 25, 2020, users who have not logged into VALERI over the past 90 days will be automatically deactivated. Reactivation of a deactivated user requires the user to complete the registration and approval process again.

VALERI Announcements – This message board is a new functionality in VALERI and is accessible by selecting the Home icon located next to “VALERI” at the top left corner. Users are highly encouraged to regularly view the announcements for informational awareness.

Redeemed Properties – Servicers must refer to Circular 26-15-9 and Circular 26-15-9, Change 1 for general redemption procedures and follow the instructions located at https://www.benefits.va.gov/HOMELOANS/servicers_valeri_guides.asp. Redeeming of a property by the borrower does not impact the terminated loan in VALERI. Servicers must not report any events (Invalid Sales Results or Improper Transfer of Custody) in VALERI. The loan must remain in “Terminated” status, allowing the servicer to submit the basic claim event.

Homeowner’s Association Notices and Utility Bills After Conveyance – Documents should be sent to VA’s property management contractor, Vendor Resource Management, at VA_utilitytaxhoapayoffs@vrmco.com. The “Title Documentation, Insurance and Timeframe Requirements” document has been updated to include this information and is located at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.

Technician and Regional Loan Center (RLC) Contact Information – The VALERI Technician contact list has been combined with the RLC contact list. The new contact list has three tabs: 1) VALERI Technicians 2) RLC Escalations and 3) General RLC Contacts (RLC jurisdictions, Loan Production and Construction and Valuation). The updated contact list is located as a Knowledge Article in VALERI and also at   https://www.benefits.va.gov/homeloans/servicers_valeri.asp. The assigned loan technician should continue to be the first point of contact (VA Servicer Handbook M26-4, Chapter 1). Servicers should refer to the contact list and ensure the correct email address is being used, as there may be more than one VA employee with the same name.

Reminders

Accessing VALERI – The new VALERI application must be accessed with the Google Chrome browser.

Bulk Uploads – Servicers must use the new version 20.0 of the bulk upload templates. All inquiries related to upload issues must include the uploaded spreadsheet and the auto-generated error message received and be directed to the VALERI Data Quality team at valeridataquality.vbaspl@va.gov

VALERI Helpdesk

VA Central Office Loan Management

CFPB: Testimony of Kathleen L. Kraninger

Posted on by Safeguard

Industry Update
February 6, 2020

Source: CFPB

Chairwoman Waters, Ranking Member McHenry, and distinguished Members of the Committee, thank you for the opportunity to present the Consumer Financial Protection Bureau’s (Bureau’s) most recent Semi-Annual Report to Congress.

Today, I am happy to present the Bureau’s Fall 2019 Semi-Annual Report (April 1, 2019, to September 30, 2019) to Congress and the American people in fulfillment of our statutory responsibility and commitment to accountability and transparency. My testimony is intended to highlight the contents of this Semi-Annual Report (Report).

Since I last appeared before the Committee, I had the pleasure of marking my first year at the Bureau. It is an honor and privilege to serve and protect American consumers. In this last year, the Bureau greatly enhanced consumer protection by more effectively and comprehensively utilizing the agency’s resources to meet our mission. I remain committed to strengthening the Bureau’s ability to use all of the tools provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), and I have established and communicated clear priorities to Bureau staff for our work using the authorities provided by the Dodd-Frank Act to protect consumers.

Through continued, robust engagement with all stakeholders, I remain resolved that the most productive use of Bureau resources is the prevention of harm to consumers in concert with our many partners. Empowering consumers to protect and further their own interests is where our efforts begin. The Bureau’s mission, as you are aware, is to ensure access to fair, transparent, and competitive markets for consumers, and we are committed to executing the mission through:

  • Empowering Consumers and Turning Financial Education in Action
  • Ensuring Clear Rules of the Road
  • Ensuring a Culture of Compliance
  • Holding Bad Actors to Account and Deterrence through Enforcement

Preventing harm to consumers, I believe, is the most effective, efficient way to carry out our mission of ensuring consumer access to a fair, transparent and competitive market. To me, prevention of harm comes through helping consumers gather financial know-how, fostering a culture of industry compliance where consumers know their rights and industry knows their responsibilities and limitations, and maintaining a back stop of enforcement.

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