FEMA Alert
July 2, 2024
FEMA has issued a Fire Management Assistance Declaration for the state of California to supplement state, tribal and local recovery efforts in areas affected by the Thompson Fire on July 2, 2024. The following counties have been approved for assistance:
Public Assistance:
California Thompson Fire (FM-5502-CA)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
June 28, 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 Boulder View Fire on June 27, 2024. The following counties have been approved for assistance:
Public Assistance:
Arizona Boulder View Fire (FM-5501-AZ)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
June 28, 2024
***LAST UPDATED: 9/19/24***
FEMA has issued a Major Disaster Declaration for the state of Minnesota to supplement state, tribal, and local recovery efforts in areas affected by severe storms and flooding from June 16 – July 4, 2024. The following counties have been approved for assistance:
Individual Assistance:
Public Assistance:
Minnesota Severe Storms and Flooding (DR-4797-MN)
President Joseph R. Biden, Jr. Approves Major Disaster Declaration for Minnesota
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
June 25, 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 Darlene 3 Fire on June 25, 2024. The following counties have been approved for assistance:
Public Assistance:
Oregon Darlene 3 Fire (FM-5500-OR)
FEMA Authorizes Funds to Fight the Darlene 3 Fire in Oregon
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
FEMA Alert
June 24, 2024
***LAST UPDATED: 9/3/24***
FEMA has issued a Major Disaster Declaration for the state of Iowa to supplement state, tribal, and local recovery efforts in areas affected by severe storms, flooding, straight-line winds, and tornadoes beginning June 16, 2024 and continuing. The following counties have been approved for assistance:
Individual Assistance:
Public Assistance:
Iowa Severe Storms, Flooding, Straight-line Winds, and Tornadoes (DR-4796-IA)
President Joseph R. Biden, Jr. Approves Major Disaster Declaration for Iowa
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Industry Update
June 24, 2024
Source: U.S. Department of Housing and Urban Development
The U.S. Department of Housing and Urban Development (HUD) announced the Lead Hazard Reduction Grant Program’s Notice of Funding Opportunity (NOFO) that makes over $469 million in grants available to state and local governments to help transform communities by fixing older housing, preserving affordable housing, and improving the health of children and families in these communities. HUD’s lead hazard control grant programs have successfully filled critical needs for remediating housing hazards, focusing on the most vulnerable residents of communities with limited local resources to address these hazards.
“Affordable, resilient, and quality housing is a priority of this Department, and these grants affirm HUD’s commitment to providing safe and healthy homes,” said HUD Acting Secretary Adrianne Todman. “By addressing and eliminating lead hazards in our nation’s homes, we are not only protecting the well-being of our children but also investing in the future prosperity of our families. Together, we can create environments where families thrive, free from the dangers of lead exposure.”
Grants to state and local governments to be awarded under this NOFO will improve health and safety in privately-owned older (pre-1978) homes of low-income families under HUD’s Lead Hazard Reduction Grant Program – one of the largest health and safety investments to date for privately-owned housing. Within this NOFO, HUD is making available over $44 million in Healthy Homes Supplemental funding, supporting grantees’ efforts to control additional housing-related health and safety hazards in those homes in conjunction with the lead hazard control work, providing a whole home approach to addressing housing-related hazards.
This funding contributes to HUD achieving its strategic objective to strengthen environmental justice by reducing exposure to health risks and environmental hazards, especially for low-income households and disadvantaged communities. Read the Fiscal Year 2022-2026 HUD Strategic Plan on HUD’s website.
State and local governments have until August 19, 2024 to apply for this NOFO through Grants.gov here. HUD strongly encourages eligible applicants to apply for these critical resources that help transform communities by improving older housing.
For full report, please click the source link above.
Industry Update
June 24, 2024
Source: Mortgage Bankers Association
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance declined slightly to 0.21% as of May 31, 2024. According to MBA’s estimate, 105,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.2 million borrowers since March 2020.
In May 2024, the share of Fannie Mae and Freddie Mac loans in forbearance declined 1 basis point to 0.10%. Ginnie Mae loans in forbearance remained the same relative to the previous month at 0.39%, and the forbearance share for portfolio loans and private-label securities (PLS) also stayed flat at 0.31%.
“The performance of servicing portfolios in May was solid, with about 96 percent of borrowers making their mortgage payments on time,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “There was a slight decline in the performance of post-forbearance loan workouts, but the results were relatively strong with 75 percent of homeowners making their payments in accordance with the workout terms.”
For full report, please click the source link above.
FEMA Alert
June 23, 2024
FEMA has issued a Fire Management Assistance Declaration for the state of Washington to supplement state, tribal and local recovery efforts in areas affected by the Slide Ranch Fire on June 22, 2024. The following counties have been approved for assistance:
Public Assistance:
Washington Slide Ranch Fire (FM-5499-WA)
FEMA Authorizes Funds to Fight the Slide Ranch Fire in Washington
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Industry Update
June 21, 2024
Source: www.businesswire.com
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at May 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
The national delinquency rate fell 6 basis points (bps) year over year to 3.04% in May; still the second lowest point on record, behind 2.92% in March 2023
A fifth consecutive monthly improvement in serious delinquencies (those loans 90+ days past due, but not yet in active foreclosure) reset what had already been a more than 18-year low
The number of mortgage-holders who’ve missed a single payment dropped by -19K, while 60-day delinquencies edged up slightly (+4K) from April
While inflow of borrowers newly 30 days late dropped to a one-year low, those rolling to later stages of delinquency edged higher from April and fewer delinquent loans cured to current status
Foreclosure starts were down -6.5% from April, keeping active foreclosure inventory at the lowest level since pandemic-era moratoria were lifted in January 2022
The total number of mortgage-holders currently in active foreclosure remains 32% below (-92K) pre-pandemic levels
Though up slightly for the month, foreclosure sales (completions) in May were down -7.2% year over year and remain well below pre-pandemic norms
A seasonal rise in home sales and slightly improved refi volumes pushed prepayments to their highest level since September 2022, even as rate-related headwinds persist
For full report, please click the source link above.
Industry Update
June 21, 2024
Source: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) today released its first quarter 2024 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,154 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,957,884 since the start of conservatorships in September 2008.
The report also shows that 29 percent of loan modifications completed in the first quarter reduced borrowers’ monthly payments by more than 20 percent. The number of refinances decreased from 71,378 in the fourth quarter of 2023 to 69,878 in the first quarter of 2024.
The Enterprises’ serious delinquency rate declined from 0.55 percent at the end of the fourth quarter of 2023 to 0.51 percent at the end of the first quarter of 2024. This compares with 3.18 percent for Federal Housing Administration (FHA) loans, 2.01 percent for Veterans Affairs (VA) loans, and 1.44 percent for all loans (industry average).
Other highlights from the report include:
Forbearance: At the end of the quarter, there were 34,348 loans in forbearance, representing approximately 0.11 percent of the Enterprises’ single-family conventional book of business, down from 42,194 or 0.14 percent at the end of the fourth quarter of 2023. Approximately 2 percent of these loans have been on a forbearance plan for more than 12 months.
Mortgage Performance: The 60+ day delinquency rate declined 8 percent in the quarter, from 0.77 percent at the end of the fourth quarter of 2023 to 0.70 percent at the end of the first quarter of 2024.
Foreclosures: The number of foreclosure starts decreased slightly to 18,643 while third-party and foreclosure sales fell 3 percent to 3,178 in the first quarter.
Real Estate Owned (REO) Activity & Inventory: The Enterprises’ REO inventory decreased 5 percent from 19,902 in the fourth quarter of 2023 to 10,404 in the first quarter of 2024, as property dispositions outpaced acquisitions. The total number of property acquisitions decreased 5 percent to 1,400, while dispositions rose to 1,894 during the quarter.
FHFA’s quarterly foreclosure prevention and refinance reports include data on the Enterprises’ mortgage performance, delinquencies, and active forbearance plans, as well as forfeiture actions and refinances by state. The data included in these reports are also available on FHFA’s website as an interactive Borrower Assistance Map.
Foreclosure Prevention, Refinance, and Federal Property Manager’s Report – 1Q 2024
For full report, please click the source link above.
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
