Safeguard Properties

Weatherhead 100 Recognizes Safeguard Properties

Posted on by Safeguard

On December 7th, Safeguard Properties was recongized by Weatherhead 100 as the fastest growing large company in Northeast Ohio.

Weatherhead 100 Recognizes Safeguard Properties
As Fastest Growing Large Company in Northeast Ohio

Valley View, OH, Dec. 15, 2010 ? Safeguard Properties was recognized as the fastest growing large company in Northeast Ohio at the annual Weatherhead 100 awards ceremony on Tuesday, December 7th.? Safeguard led in the Centurion category that includes companies with annual net sales in excess of $100 million.

The annual Weatherhead 100, presented by the Weatherhead School of Management at Case Western Reserve University and the Council of Smaller Enterprises (COSE), recognizes the 100 fastest growing companies in Northeast Ohio.?

This is the 14th year in which Safeguard has been recognized as a Weatherhead 100 company.? It is the first time that Safeguard has earned the top spot in the Centurion category.? Qualifying companies must demonstrate consistent growth over the past five years.? The objective ranking is performed by the Weatherhead School of Management.?

Safeguard Properties is the largest privately held mortgage field services company in the U.S.? It inspects and maintains defaulted and foreclosed properties for banks, mortgage companies, investors and other financial institutions.? Founded in 1990 by Robert Klein and headquartered in Valley View, Ohio, the company employs more than 800 people, plus a network of thousands of contractors nationwide.? Website:? www.safeguardproperties.com.

Media contact:? Diane Roman Fusco, director of public relations, 800-852-8306, ext. 1213, diane.fusco@s.safeguardproperties.com.

View the Video

Safeguard CFO Greg Robinson Recognized as CFO of the Year

Posted on by Safeguard

Safeguard CFO Greg Robinson honored as “CFO of the Year”

Valley View, OH, October 28, 2010 ? Safeguard Properties announced today that Chief Financial Officer Greg Robinson received the ?CFO of the Year? Award from Crain?s Cleveland Business in the large private company category.??

The award was announced Tuesday, October 26th at a ceremony and dinner reception attended by more than 600 guests.??

Crain?s recognized Robinson for his key role, as a member of the executive leadership team, providing sound fiscal management to help the company quadruple its revenues between 2005 and 2009.??

?Greg has been a trusted business advisor whose collaborative style and expertise have been critical to Safeguard?s growth during the past four years,? said Safeguard CEO Alan Jaffa.? ?We are tremendously proud of Greg and grateful to Crain?s for recognizing his outstanding contribution.????

Robinson joined Safeguard in 2006.? Prior to joining Safeguard, he was director of government solutions for CGI, Inc.? He is a graduate of Baldwin-Wallace College, and lives in Broadview Heights, Ohio, with his wife and two sons.??????

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About Safeguard??

Safeguard Properties, headquartered in Valley View, Ohio, is the largest privately held mortgage field services company in the U.S.? Founded in 1990, the company inspects and maintains defaulted and foreclosed properties for banks, mortgage service companies, investors and other financial institutions.? The company employs more than 800 people, plus a network of thousands of contractors throughout the country.?

Safeguard Properties announces headquarters expansion

Posted on by Safeguard

Safeguard Properties announces headquarters expansion

?Valley View, OH, July 15, 2010 ? Safeguard Properties Chief Executive Officer Alan Jaffa announced a 7,500 square-foot expansion of its existing 58,000 headquarters facility.?????

The expansion space is located in a 20,000 mezzanine that the company built above its new headquarters building to accommodate planned growth.?? When fully built out, Jaffa said the headquarters will total 78,000 square feet and accommodate more than 1,000 staff.??

Since moving into its new headquarters in Spring of 2009, Safeguard?s employment has grown from 650 to more than 800.? The expansion will provide work space for 85 additional staff, plus conference rooms, a break room and other common areas.?

?About Safeguard Properties???

Safeguard Properties is the largest privately held mortgage field services in the U.S.? It inspects and maintains defaulted and foreclosed properties for lenders, mortgage service companies and other financial institutions.? Founded in 1990 and headquartered in Valley View, Ohio, the company employs more than 800 people, plus a network of thousands of contractors across the country.??

Media contact: Diane Roman Fusco, director of public relations, diane.fusco@s.safeguardproperties.com, 800-852-8306, ext. 1213

To view the announcement on MortgageOrb.com, please click here
To view the announcement in REO-Insider, please click here

Alan Jaffa Named CEO of Safeguard Properties

Posted on by Safeguard

Safeguard Names Alan Jaffa CEO, Robert Klein Assumes Chairman Role


Safeguard Properties announced Tuesday that Alan Jaffa has assumed the role of the company?s chief executive officer. Founder and principal Robert Klein, who formerly served in the CEO capacity, is transitioning to chairman of the board, effective immediately.

In announcing Jaffa?s new position, Klein said, ?Alan has been directly responsible for managing the operations and leading the positive change within the organization for some time now and has been influential in Safeguard?s growth. As we prepare for the 20th anniversary of our founding in May, it is important to formalize Alan?s role as CEO to reflect the leadership he has already earned and demonstrated.?

Klein noted that under Jaffa?s leadership, Safeguard will continue as a privately held family enterprise and will remain so for generations to come.

Since joining Safeguard in 1995, Jaffa has been instrumental in driving the company?s growth as he moved up through key positions within the organization. In 1999, Jaffa was appointed VP of the company and promoted to COO in 2002. Since Jaffa assumed the role of chief operating officer, Safeguard?s revenues have grown in excess of 500 percent and staff has grown to more than 800 employees.

As chairman of the board, Klein will continue to represent Safeguard as an industry advocate for clients through his involvement with the industry, investors/insurers, the Mortgage Bankers Association (MBA), and other industry trade organizations. He also will lead strategic growth initiatives within the company.

?Robert set a great course, building Safeguard into an industry leader and will continue to drive initiatives that create industry collaboration,? said Jaffa. ?We have a strong management team and the most qualified staff in the industry, and we will continue to build upon the great work of the team we have in place to help Safeguard?s clients meet the challenges ahead that face our industry.?

Headquartered in Valley View, Ohio, Safeguard Properties is the largest privately held mortgage field services company in the United States. The company inspects and maintains defaulted and foreclosed properties for mortgage servicers, banks, and other financial institutions.

To view the online article, please click here

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.

VA: VALERI Servicer Newsflash

Posted on by Safeguard

Investor Update
September 4, 2018

Source: VA

IMPORTANT INFORMATION

Modification Comparison Chart – A chart summarizing the different VA modification options has been created to provide additional clarification. It will be available at https://www.benefits.va.gov/HOMELOANS/servicers_valeri_guides.asp on Monday, September 10, 2018.

DEVELOPMENT UPDATES

On Saturday, September 8, 2018, VALERI Manifest 18.3 will be released. VALERI will be unavailable from 7:00 p.m. EST to 11:00 p.m. EST. The following system enhancements will be included:

CQ 13433 – Updates the redemption expiration date business rule logic in the Transfer of Custody event to pass if loan terminated via Deed in Lieu.

CQ 13535 – Updates the claim logic to deny foreclosure recording fees if VA did not accept conveyance of the property.

VA: Circular 26-18-17: Special Relief Following Hurricane Lane

Posted on by Safeguard

Investor Update
August 30, 2018

Source: VA

1. Purpose. This Circular expresses concern about the Department of Veterans Affairs (VA) home loan borrowers affected by Hurricane Lane, and describes measures mortgagees may employ to provide relief. Mortgage servicers and borrowers alike should review VA’s Guidance on Natural Disasters to ensure Veterans receive the assistance they need. (https://www.benefits.va.gov/homeloans/documents/docs/va_policy_regarding_natural_disasters. pdf)

2. Forbearance Request. VA encourages holders of VA-guaranteed loans to extend forbearance to borrowers in distress as a result of Hurricane Lane. Careful counseling with borrowers should help determine whether their difficulties are related to this disaster, or whether they stem from other sources that must be addressed. The proper use of authorities granted in VA regulations may be of assistance in appropriate cases. For example, Title 38, Code of Federal Regulations (C.F.R.), section 36.4311, allows the reapplication of prepayments to cure, or prevent a default. Also, 38 C.F.R. 36.4315 allows the terms of any VA-guaranteed loan to be modified without the prior approval of VA, provided conditions in the regulation are satisfied.

3. Moratorium on Foreclosure. Although the loan holder is ultimately responsible for determining when to initiate foreclosure and for completing any termination action, VA has requested on its website (https://www.benefits.va.gov/homeloans) that holders establish a 90day moratorium from the date of a disaster on initiating new foreclosures on loans affected by major disasters. VA regulation 38 C.F.R. 36.4324(a)(3)(ii) allows additional interest on a VA-guaranty claim when eventual termination has been delayed due to circumstances beyond the control of the holder, such as VA-requested forbearance. Due to the widespread impact of the disaster, holders should review all foreclosure referrals to ensure that borrowers have not been affected significantly enough to justify delay in referral. Any questions about impact should be discussed with the VA Regional Loan Center (RLC) of jurisdiction.

4. Late Charge Waivers. VA believes that many servicers plan to waive late charges on affected loans, and encourages all servicers to adopt such a policy for any loans that may have been affected.

5. Credit and VA Reporting. In order to avoid damaging credit records of Veteran borrowers, servicers are encouraged to suspend credit bureau reporting on affected loans. VA will not penalize affected servicers for any late default reporting to VA as a result. Please contact the appropriate RLC with any questions.

6. Activation of the National Guard. Members of the National Guard may be called to active duty to assist in recovery efforts. VA encourages servicers to extend special forbearance to National Guard members who experience financial difficulties as a result of their service.

7. Rescission: This Circular is rescinded October 1, 2019.

By Direction of the Under Secretary for Benefits

Jeffrey F. London
Director, Loan Guaranty Service

OCC: BULLETIN 2018-26: Updated Comptroller?s Handbook Booklet

Posted on by Safeguard

Investor Update
August 31, 2018

Source: OCC

Summary

The Office of the Comptroller of the Currency (OCC) today issued the updated1 “Other Real Estate Owned” booklet of the Comptroller’s Handbook, which provides guidance to examiners on banks’ acquisition, reporting, management, and disposition of other real estate owned (OREO). The updated booklet includes accounting changes for foreclosed property under contract, in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification Subtopic 360-20, Subtopic 610-20, and Topic 606. Other updates were made to the booklet, as summarized in the “Highlights” section of this OCC Bulletin and in the “Table of Updates Since Publication” section of the OREO booklet.

Rescissions

The updated booklet replaces the booklet of the same title issued in September 2013. Also replaced is OCC Bulletin 2013-20, “Other Real Estate Owned: Comptroller’s Handbook Revisions and Rescissions.”

Note for Community Banks

This booklet applies to the OCC’s supervision of all national banks, federal savings associations (FSA), and federal branches and agencies (collectively, banks).

Highlights

The updated bookle

  • details changes to the accounting for sales of OREO by public business entities. The changes became effective for fiscal years beginning after December 15, 2017, including interim reporting periods within those fiscal years.
  • details changes to the accounting for sales of OREO by non-public business entities. The changes become effective for fiscal years beginning after December 15, 2018, and interim reporting periods within fiscal years beginning after December 15, 2019.
  • provides interim guidance on the OREO holding period for FSAs as a result of the integration of FSAs into 12 CFR 3.
  • includes clarifications regarding supervisory guidance, sound risk management practices, and legal language
  • clarifies the roles of the bank’s board of directors and management.
  • reflects the integration of FSAs into 12 CFR 7, subpart A, and 12 CFR 34, subpart C.
  • references third-party risk management guidance issued since the booklet’s last publication.

Further Information

Please contact the Commercial Credit Risk Policy Division at (202) 649-6670.

Grace E. Dailey
Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner

Related Links

Fannie Mae: Document-Free Expense Reimbursement; Know Your Options Training; and More

Posted on by Safeguard

Investor Update
September 5, 2018

Source: Fannie Mae

Coming soon – document-free expense reimbursement and self-service reporting

Expense reimbursements are about to get faster and easier. On Sept. 24, we’re introducing a new approach to expense reimbursement as part of our commitment to Simplifying Servicing™. In addition to document-free reimbursement claim submissions, you’ll soon have access to a new expense reimbursement dashboard, which will provide a single location for centralized reporting of claim, inquiry, and excess fee approval information. Visit the Simplifying Servicing page to stay up to date on these exciting enhancements.

Know Your Options Customer CARE live training

By popular demand, our Know Your Options™ Customer CARE (KYOCC) 7-step call flow training is now available to all servicers. Please join us for this interactive learning opportunity that will offer managers guidance on establishing consultative customer relationships by developing rapport, maintaining quality right party contact, and properly positioning available workout solutions. Space is limited, so sign up today for the Sept. 11 webinar.

Join us at these upcoming events:

Sept. 8-11 | NAHREP National Convention | San Diego
Sept. 12-14 | New England Mortgage Bankers Conference | Newport, RI
Sept. 17-18 | Digital Mortgage 2018 | Las Vegas

View more events.

Recent Tweets

From stabilizing our company to helping our customers better serve Americans, we’ve come a long way under our CEO Tim Mayopoulos. Via @HousingWire: https://t.co/3cBMnVMYr9

Sept. 5

Simplify your lending journey from day 1. Find out how #Day1Certainty can help with asset, income, and employment validation. http://bit.ly/2NjFeMs

Sept. 5

USDA: Proposed Rule – Streamlining the Loss Claims Process

Posted on by Safeguard

Investor Update
August 23, 2018

Source: USDA

On August 23, 2018, a Proposed Rule was published in the Federal Register seeking comments on proposed changes to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure; clarify that lenders must comply with applicable laws, including those within the purview of the Consumer Financial Protection Bureau; and better align loss mitigation policies with those in the mortgage industry.  Instructions for providing comments are included in the Federal Register Notice.
 
Questions regarding this announcement may be directed to SFHGLP in the Rural Housing National Office at 202-720-1452.

Help Resources

Policy Questions
Customer Service Center
Phone: 866-550-5887
Single Family Housing Guaranteed Loan Division
Phone: 202-720-1452
 
USDA ITS Service Desk Support Center
For e-Authentication assistance
Email: eAuthHelpDesk@ftc.usda.gov
Phone: 800-457-3642, option 1 (USDA e-Authentication Issues)
 
Rural Development Help Desk
For GUS system, outage or functionality assistance
Email: RD.HD@STL.USDA.GOV
Phone: 800-457-3642, option 2 (USDA Applications); then option 2 (Rural Development)

USDA: Lender Electronic Status and Default Status Correction Requirement

Posted on by Safeguard

Investor Update
August 6, 2018

Source: USDA

This notification is to further remind USDA Guaranteed Loan Servicers of the new Electronic Status Reporting enhancement.  Please remember that status reports for ALL loans is now required monthly instead of quarterly.  Also, as part of the enhancement, servicers are required to complete Electronic Status and Default Report Corrections.  Please see USDA LINC Training and Resource Library for training and the ESR User Guide, which will assist you with access to the rejects needing corrections and completing the reject corrections.  
 
Authorized lenders will access the ESR Correction System using:  https://usdalinc.sc.egov.usda.gov/
 
Assistance with the ESR Correction System can be directed to RD.NFAOC.HSB@stl.usda.gov or via phone 1-877-636-3789 option 1

Help Resources

Policy Questions
Customer Service Center
Phone: 866-550-5887
Single Family Housing Guaranteed Loan Division
Phone: 202-720-1452
 
USDA ITS Service Desk Support Center
For e-Authentication assistance
Email: eAuthHelpDesk@ftc.usda.gov
Phone: 800-457-3642, option 1 (USDA e-Authentication Issues)
 
Rural Development Help Desk
For GUS system, outage or functionality assistance
Email: RD.HD@STL.USDA.GOV
Phone: 800-457-3642, option 2 (USDA Applications); then option 2 (Rural Development)