Safeguard Properties

FHFA: John Roscoe Named Chief of Staff

Posted on by Safeguard

Investor Update
January 31, 2019

Source: FHFA

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that John Roscoe has been appointed as Chief of Staff effective ‪February 4. Roscoe will report directly to Joseph Otting, who became Acting Director of FHFA on January 7.

“John is a dynamic and collaborative leader with a track record of success. He brings to the position the solid judgement that comes from working at a very high level across all ​branches of government. I look forward to working with John to carry out the mission of the FHFA,” said Otting.

Roscoe currently serves as Special Assistant to the President in the White House Office of Presidential Personnel. His work has helped shape the economic, trade and regulatory arm of the Trump Administration. Before joining the White House, Roscoe served in senior roles in the private sector and state government, including at the Ohio Treasurer’s office.

“I am honored by this appointment and look forward to working with Acting Director Otting and the highly respected FHFA team,” said Roscoe.

Roscoe, a native of northeast Ohio, currently resides in Falls Church, Virginia with his wife, Caroline, and two children.

Contacts:
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811

FHFA: Foreclosure Prevention Report – November 2018

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Investor Update
February 7, 2019

Source: FHFA

November 2018 Highlights

The Enterprises’ Foreclosure Prevention Actions:

•The Enterprises completed 12,902 foreclosure prevention actions in November, bringing the total to 4,270,948 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.

•There were 8,048 permanent loan modifications in November, bringing the total to 2,306,684 since the conservatorships began in September 2008.

•Twenty-nine percent of modifications in November were modifications with principal forbearance. Modifications with extend-term only accounted for 65 percent of all loan modifications during the month.

•There were 566 short sales and deeds-in-lieu of foreclosure completed in November, down 11 percent compared with October.

The Enterprises’ Mortgage Performance:

•The serious delinquency rate dropped from 0.76 percent at the end of October to 0.74 percent at the end of November.

The Enterprises’ Foreclosures:

•Third-party and foreclosure sales decreased from 4,416 in October to 3,888 in November.

•Foreclosure starts decreased from 12,752 in October to 10,810 in November.​

Attachments: Foreclosure Prevention Report – November 2018

Fannie Mae: Top FAQs for Borrower-Initiated MI Termination Using SMDU

Posted on by Safeguard

Investor Update
February 6, 2019

Source: Fannie Mae (full FAQs)

Frequently Asked Questions

Updated policy requirements for the borrower-initiated termination of conventional mortgage insurance (MI) will simplify the process of evaluating borrower-initiated requests for MI termination. This streamlined process will deliver a better customer experience for both servicers and borrowers. Listed below are frequently asked questions related to the implementation of the MI termination policy using Servicing Management Default Underwriter™ (SMDU™).

Servicers are encouraged to implement the MI termination policy based on Original Value as early as Jan 1, 2019, and MI termination policy based on Current Value as early as March 1, 2019, (when the capability to do so using SMDU becomes available); however, implementation is required by September 1, 2019.

Fannie Mae: Modification Interest Rate Adjustment Update

Posted on by Safeguard

Investor Update
February 7, 2019

Source: Fannie Mae

The Fannie Mae Modification Interest Rate is subject to periodic adjustments based on an evaluation of prevailing market rates. The servicer must use the current Fannie Mae Modification Interest Rate indicated below when evaluating a borrower for a conventional mortgage loan modification.

NOTE: As a reminder, the interest rate used to determine the final modification terms must be the same fixed interest rate that was used when determining eligibility for the Trial Period Plan and calculating the Trial Period Plan payment.

FEMA Declared Disaster Mississippi

Posted on by Safeguard

FEMA Alert Update
March 20, 2019

FEMA issued an update to a Presidential Major Disaster Declaration for areas in Mississippi affected by severe storms, flooding and a tornado that took place December 27-28, 2018. The following county is eligible for assistance:

Public Assistance

  • Noxubee

FEMA Release: Declared Disaster Amendment for Mississippi

ZIP Code List for FEMA Declared Disaster for Mississippi

MapAlert Disaster Viewer

 

FEMA Alert
February 14, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in Mississippi affected by severe storms, flooding and a tornado that took place December 27-28, 2018. The following counties are eligible for assistance:

Public Assistance

  • Clarke
  • Covington
  • Forrest
  • Greene
  • Jasper
  • Jones
  • Marion
  • Newton
  • Perry
  • Wayne

FEMA Release: Declared Disaster for Mississippi

ZIP Code List for FEMA Declared Disaster for Mississippi

MapAlert Disaster Viewer


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 Declared Disaster Alaska

Posted on by Safeguard

FEMA Alert
January 31, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in Alaska affected by an earthquake that took place November 30, 2018. The following boroughs are eligible for assistance:

Individual/Public Assistance

  • Anchorage
  • Kenai Peninsula
  • Matansuka-Susitna

FEMA Release: Declared Disaster for Alaska

ZIP Code List for FEMA Declared Disaster for Alaska

 

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 Declared Disaster North Carolina

Posted on by Safeguard

FEMA Alert
January 31, 2019

FEMA issued a Presidential Major Disaster Declaration for areas in North Carolina affected by Hurricane Michael from October 10-12, 2018. The following counties are eligible for assistance:

Public Assistance

  • Alamance
  • Brunswick
  • Caswell
  • Chatham
  • Dare
  • Davidson
  • Davie
  • Forsyth
  • Granville
  • Hyde
  • Iredell
  • McDowell
  • Montgomery
  • Orange
  • Person
  • Randolph
  • Rockingham
  • Stokes
  • Surry
  • Vance
  • Yadkin

FEMA Release: Declared Disaster for North Carolina

ZIP Code List for FEMA Declared Disaster for North Carolina

 

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

Largest Provider of Default Services Utilizes Tech to Push the Field Services Industry Forward

Posted on by Safeguard

Safeguard in the News
February 1, 2019

Source: HousingWire

Safeguard Properties continues to enhance its SafeView Field Services Platform with next-gen multimedia mobile application

As the largest provider of mortgage default field services, Safeguard Properties leads the industry by delivering a full spectrum of services on vacant, defaulted and foreclosed properties across the country. As an industry leader, Safeguard’s commitment to technology has pushed the field services industry forward.

“Safeguard is more than a property preservation company — we protect the communities where you work and call home,” said Alan Jaffa, CEO at Safeguard. “To maintain our longstanding reputation as an advocate within the housing industry, a variety of tools have been created to protect and partner with jurisdictions, addressing the challenges facing properties within communities across the country.”

Safeguard continues to enhance its SafeView Field Services Platform with advanced video and audio capabilities and a next-generation multimedia mobile application, utilized by Safeguard contractors out in the field.

“We have added these capabilities to our suite of systems and included mobile offerings that remain at the forefront of the mortgage field services industry over the past couple of years,” Jaffa said. “The addition of video, audio and panoramic will provide servicers with valuable information necessary to assess property damage and validate bids.”

Designed to meet the ever-changing needs of the mortgage servicing industry, the platform improves the timeliness and quality of all Safeguard services. SafeView provides order processing, routing, invoicing and reporting services to ensure quality results to clients through a dynamic rules-based engine.

Consisting of five modules, the platform delivers end-to-end automated order management, mobile data collection, workflow, billing and analytics through its integrated field services software. Those five modules include:

•SafeView Connect: Serves as the integration gateway, allowing configurable work orders, results and invoicing data exchange to connect vendors, clients and other partners.

•SafeView Inspect: An integrated mobile inspection app and administrative portal designed to provide full-service field support to the company’s inspectors.

•SafeView Preserve: An integrated mobile property maintenance app and administrative portal utilized by contractors to receive, assign and complete property preservation work orders.

•SafeView Access: Designed for clients to manage their portfolio by providing the property-level details including the status of work orders, bids and the results of work that has been performed.

•SafeView Analytics: Provides customizable current, historical and location-based data analytics and reporting of field services operations through the life cycle of property inspections and maintenance.

Safeguard has optimized technology through mobile location, business intelligence and tracking to help identify location accuracy, quality-check data and ensure the right work is being done to support compliance requirements. The company is also the first to begin utilizing multimedia capabilities within its app.

“Advancements in video and enhancing our SafeView Field Services Platforms will continue to be our focus in 2019,” Jaffa said.

Additionally, Safeguard has built strong relationships and partnerships with local communities and key industry members, such as city officials and code enforcement officers, to provide education and assistance.

For the past 14 years, Safeguard has hosted the annual National Property Preservation Conference, bringing together industry leaders to discuss current issues in the industry and to develop solutions.

“Since our founding, Safeguard has developed and maintained a reputation as an industry leader to advance best practices through innovation, raise the profile of the industry and open lines of communication between the servicing industry and government officials across the country,” Jaffa said.

The Executives

Alan Jaffa, CEO

Alan Jaffa joined Safeguard in 1995, learning the business from the ground up. He was named CEO in May 2010 and under his leadership has steered 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’s business model into complementary markets.

Michael Greenbaum, COO

Michael Greenbaum joined the company in July 2010 as vice president of REO and was promoted to COO in 2015. Under his leadership, all operational departments of Safeguard have reviewed, updated and enhanced their business processes to maximize efficiency and improve quality control.

Linda Erkkila, General Counsel and Executive Vice President

Linda Erkkila oversees responsibilities for the legal, human resources, training, compliance and audit departments. Her previous experience at a former Fortune 500 financial institution during the subprime crisis helped develop Erkkila’s proactive approach to change management during periods of heightened regulatory scrutiny. She was also named an HW Women of Influence in 2017.

CFPB: A Snapshot of Mortgage Complaints

Posted on by Safeguard

Industry Update
January 29, 2019

Source: CFPB

Every day, people submit complaints to the Bureau of Consumer Financial Protection about a wide variety of consumer financial products and services. Today, we released our Complaint snapshot: Mortgage . It takes a deeper dive into the mortgage complaints we’ve received and highlights some trends we’ve observed.

This report reveals many interesting data points about complaints submitted by consumers:

•Between November 1, 2016 and October 31, 2018, approximately 11 percent of complaints were about mortgages.

•Most mortgage complaints were about “trouble during payment process” (42 percent) and “struggling to pay mortgage” (36 percent).

•Compared to the monthly average during the past 24 months, people submitted 18 percent fewer mortgage complaints in October 2018.

•There were 15 percent fewer mortgage complaints from August 2018 to October 2018 compared to August 2017 to October 2017.

Complaints received by the Bureau help its work to regulate consumer financial products or services under existing federal consumer financial laws, enforce those laws judiciously, and educate and empower people to make better-informed financial decisions.

The Bureau offers useful tools and resources for homeowners and homebuyers. Whether you’re thinking about buying a home, have a mortgage, or are having trouble paying, these resources can help you. You can also call us toll-free at (855) 411-2372, with your questions about consumer financial products and services.

CFPB: Changes to Senior Leadership

Posted on by Safeguard

Industry Update
January 25, 2019

Source: CFPB

Washington, D.C. — Consumer Financial Protection Bureau Director Kathleen L. Kraninger today announced leadership changes within the Bureau. The positions being announced today are:  

Policy Associate Director for External Affairs; West Regional Director; Acting Chief Communications Officer; Deputy Associate Director for External Affairs; and the Director for the Office of Minority and Women Inclusion.

The following individuals were announced today as joining the CFPB leadership team:

Andrew Duke will serve as the Policy Associate Director for External Affairs. Mr. Duke has 27 years of experience in public policy, including 20 years on Capitol Hill serving with three different members of Congress. He received his B.A. in Economics from Hampden-Sydney College.

Laura Fiene will serve as West Regional Director. Ms. Fiene joined the CFPB at its inception in 2011. She brings over 31 continuous years of experience in regulating financial services companies, including 27 years dedicated to supervising and examining compliance with federal consumer financial laws and regulations. She graduated from Southern Illinois University. She holds an MBA from Golden Gate University and a J.D. from the University of Texas at Austin.

Marisol Garibay will serve as the Acting Chief Communications Officer. Ms. Garibay has 14 years of experience in policy communications focused on financial issues and served most recently as Senior Advisor and Acting Communications Director at the Office of Management and Budget. She received her B.A. from the University of Minnesota-Twin Cities.

Delicia Reynolds Hand will serve as Deputy Associate Director for External Affairs. Ms. Hand joined the Bureau in 2012 and has 17 years of experience, having worked in consumer advocacy, community development, and on Capitol Hill. She holds a JD from the American University’s Washington College of Law, and M.A. from Cambridge University, U.K. 

Lora McCray will serve as Director for the Office of Minority and Women Inclusion. Ms. McCray’s career includes 15 years of experience in diversity practice and management, most recently as the Assistant Vice President, Diversity and Inclusion at the Federal Reserve Bank of Boston. She holds an M.A. in Applied Anthropology from the University of Memphis; a J.D. from the University Of Washington School Of Law; and a B.A. in Political Science from the University of Georgia.