Safeguard Properties

FHFA: Foreclosure Prevention Actions Top 3.6 Million

Posted on by Safeguard

Investor Update
March 24, 2016

Washington, D.C. –  The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 47,769 foreclosure prevention actions in the fourth quarter of 2015, bringing the total number of foreclosure prevention actions to over 3.6 million since the start of the conservatorships in September 2008.  These measures have helped more than 3.0 million borrowers stay in their homes, including nearly 1.9 million who received permanent loan modifications.  

Further details can be found in FHFA’s fourth quarter Foreclosure Prevention Report, which also includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data and real estate owned (REO) inventory.  FHFA publishes the report data in an online, interactive Borrower Assistance Map accessible through FHFA.gov. 

Other foreclosure prevention data for Fannie Mae and Freddie Mac noted in the quarterly report include:

  • The number of 60+ day delinquent loans declined another 3 percent during the quarter dipping to 515,420, the lowest number since the first quarter of 2008.
  • The serious delinquency rate of Fannie Mae and Freddie Mac loans fell below 1.5 percent at the end of the fourth quarter, continuing a steady decline from a peak of 4.93 percent in the first quarter of 2010.
  • Fannie Mae and Freddie Mac completed a total of 232,066 foreclosure prevention actions in 2015, including 196,815 home retention actions and 35,251 non-foreclosure home forfeiture actions.

Link to Report???

Contacts:
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030

Consumers: Consumer Communications or (202) 649-3811

Source: FHFA

FHA INFO #16-21: FHA Publishes Lender Insight Newsletter – Issue #11; Updated 203(k) Purchase Program Sample Documents

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Investor Update
March 31, 2016

Today, the Federal Housing Administration’s (FHA) Office of Single Family Housing published its quarterly Lender Insight newsletter. Issue #11 includes information on:

  • Annual Recertifications;
  • Voluntary Withdrawals;
  • Quarterly Loan Review Update;
  • Test Cases;
  • And more.

The objective of Lender Insight is to provide lenders with information about what FHA is seeing in recertifications; quarterly loan review updates; and other topics of interest to the lending community. Each issue also contains core information designed to help lenders better understand the trends and policies that affect their business.

The Lender Insight newsletter is published online, with current and past versions accessible from the FHA Lender page on hud.gov, under the “Performance” tab. If you would like to be included on the FHA INFO subscriber list, you will be notified when future issues of Lender Insight are published – visit the FHA INFO subscription page to sign up.

Quick Links


Updated 203(k) Maximum Mortgage Calculation Resource Documents

As part of the Single Family Housing Policy Handbook 4000.1 (SF Handbook) update on March 14, 2016, FHA published revised sample 203(k) Maximum Mortgage Calculation Resource Documents under 203(k) Related Documents on the 203(k) Sample Documents web page on HUD.gov.

Due to a technical error, the Limited 203(k) Purchase Program document contained a reference to “Financeable Mortgage Payment Reserves,” which are not applicable to this product. This reference has been removed. Additionally, all of the sample documents will be updated on April 1, 2016 to amend language to help guide the reader through the process steps.

If you previously downloaded these sample documents, please discard them and use the new ones that will be posted on the 203(k) Sample Documents web page. FHA apologizes for any inconvenience this may have caused.

Quick Links:


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.

Source: FHA (FHA INFO #16-21 full version)

FHA INFO #16-19: REMINDER: FHA to Host Additional Industry Briefing Conference Calls to Provide More Insight into March 14, 2016 Single Family Housing Policy Handbook 4000.1 Updates

Posted on by Safeguard

Investor Update
March 25, 2016

On March 14, 2016, FHA published updates to—as well as published the new Claims and the new Disposition sections of—its Single Family Housing Policy Handbook 4000.1 (SF Handbook). With the publishing of these sections, FHA now has available an almost complete, end-to-end set of policies for its Title II forward mortgage business.

As a reminder, over the next few weeks, FHA will host three separate SF Handbook industry briefing conference calls to provide more insight into the new Claims section and the new Disposition section, as well as the recent updates to the Doing Business with FHA and the Quality Control, Oversight and Compliance sections for Lenders and Mortgagees. Call details are provided below.

FHA encourages those planning to attend one or all of the upcoming SF Handbook industry briefing conference calls to review the particular section(s) in its entirety prior to joining the call and to formulate any questions they may have. FHA subject matter experts will be on hand to answer questions regarding the new sections and other updates published on March 14th during each conference call’s open Question and Answer period.

Claims Section Industry Briefing Conference Call on March 31, 2016

During this call, FHA subject matter experts will discuss—and provide a more comprehensive overview of—the newly published Claims section:

  • Title: SF Handbook Claims Section
  • Date: Thursday, March 31, 2016
  • Time: 2:00 PM–3:00 PM (Eastern)
  • Dial-in: (866) 615-1886
  • Access Code: 387723
  • Target Audience: Lenders, Mortgagees, Servicers, and all other interested Stakeholders in FHA transactions


Doing Business with FHA and Quality Control, Oversight and Compliance Sections Industry Briefing Conference Call on April 14, 2016

During this call, FHA subject matter experts will provide a brief overview of the recent updates to Section I: Doing Business with FHA—Lenders and Mortgagees, and Section V: Quality Control, Oversight and Compliance for Lenders and Mortgagees of the Single Family Housing Policy Handbook 4000.1., and then open the call for Questions and Answers.

  • Title: SF Handbook Doing Business with FHA and Quality Control, Oversight and Compliance Sections
  • Date: Thursday, April 14, 2016
  • Time: 2:00 PM – 3:00 PM (Eastern)
  • Dial-in: (800) 260-0712
  • Access Code: 389804
  • Target Audience: Lenders, Mortgagees, and all other interested Stakeholders in FHA transactions


Disposition Section Industry Briefing Conference Call on April 21, 2016

During this call, FHA subject matter experts will provide a more comprehensive overview of the newly published Disposition section:

  • Title: SF Handbook Disposition Section
  • Date: Thursday, April 21, 2016
  • Time: 2:00 PM–3:00 PM (Eastern)
  • Dial-in: (800) 260-0718
  • Access Code: 388730
  • Target Audience: Lenders, Mortgagees, Servicers, Real Estate Brokers, Appraisers, and all other interested Stakeholders in FHA Transactions


Quick Links


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.

Source: FHA (FHA INFO #16-19 full version)

FHA INFO #16-15: Updated Single Family Housing Policy Handbook 4000.1 Offers End-to-End Title II Forward Mortgage Policy Source

Posted on by Safeguard

Updated 3/17/16: HUD published FHA INFO #16-17 (CORRECTED Maximum LTV Factor at Step 3.F of affected worksheets).

Link to FHA INFO #16-17

Investor Update
March 14, 2016

Whether you are a mortgagee originator or servicer, a nonprofit or governmental entity, or one of the other stakeholders in Federal Housing Administration (FHA) transactions for Title II forward mortgages, there is something for you in FHA’s updated and expanded Single Family Housing Policy Handbook 4000.1 (SF Handbook) published today. With these updates — including the publication of the Claims and Disposition section for Title II forward mortgages and associated registration, approval, and compliance policies in other sections for Real Estate Brokers and Closing Agents — the SF Handbook is now an end-to-end source for almost all Single Family Housing Title II forward mortgage policy. For FHA, this represents a significant step in its goal of making it easier to do business with us.

Multiple previously published sections of the SF Handbook became effective as of today, so that almost all stakeholders in FHA Title II forward mortgage transactions are now able to use the SF Handbook as their single source of Single Family Housing policy for:

  • Obtaining and maintaining FHA approval;
  • Originating almost all Title II forward mortgage products and programs;
  • Obtaining an FHA insurance endorsement;
  • Performing servicing and loss mitigation functions on FHA-insured mortgages; and
  • Understanding and applying quality control practices.

The SF Handbook, dated March 14, 2016, contains technical updates and revisions to existing policy. These updates are listed in the SF Handbook March 14, 2016 Transmittal. As noted in the Transmittal, an additional 200-plus Single Family Housing Mortgagee Letters and other policy documents have been superseded in full by the SF Handbook.

Read more about the SF Handbook’s March 14, 2016 updates, additions, and other SF Handbook changes in FHA’s online article. The FHA Resource Center’s online, searchable Frequently Asked Questions (FAQ) site will be updated over the next several days with new and revised FAQs to reflect policy that became effective on or after March 14, 2016.

Industry Briefing Conference Call on March 22, 2016
Mortgagees and other stakeholders in FHA transactions are invited to attend an industry briefing conference call on March 22, 2016. During this call, FHA subject matter experts will provide a high-level overview of the SF Handbook’s March 14, 2016 updates and additions.

  • Title: SF Handbook March 14 Updates and Additions
  • Date: March 22, 2016
  • Time: 2:00 PM – 3:30 PM (Eastern)
  • Dial-in: (800) 707-9573
  • Access Code: 387881


Quick Links


Single Family Housing Policy Handbook 4000.1 Claims and Disposition Section for Title II Forward Mortgages Published Today

Today, the Federal Housing Administration (FHA) published the Claims and Disposition section for Title II forward mortgages (Claims and Disposition) of its Single Family Housing Policy Handbook 4000.1 (SF Handbook). It becomes effective on September 30, 2016. When effective, the addition of this section — and associated registration, approval, and compliance policies in other sections for Real Estate Brokers and Closing Agents — to the SF Handbook means that mortgagees and other stakeholders in FHA transactions will have a complete, end-to-end set of policies for almost all of their FHA Title II forward mortgage business.

Publication of the Claims and Disposition section follows FHA’s assessment of feedback received on the draft section posted from August 5, 2015 through October 5, 2015. The Claims and Disposition section represents existing FHA policy, revised to conform to the format and style of the SF Handbook. However, the section does contain some policy changes, and mortgagees and others are encouraged to read the section in its entirety as they begin to prepare for the September 30, 2016 effective date.

The Claims and Disposition section was published in the SF Handbook and is now available in portable document format (PDF) form, and will be incorporated into the online SF Handbook on FHA’s Single Family Housing Policy Library on June 30, 2016. Read more in FHA’s online article about the newly published Claims and Disposition section, including details for attending an industry briefing conference call on the Claims section scheduled for March 31, 2016, and the Disposition section scheduled for April 21, 2016.

Quick Links


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.

Source: HUD (FHA INFO #16-15 full version)

FHA INFO #16-13 Electronic Appraisal Delivery (EAD) Portal March 14, 2016 System Enhancements Reminder

Posted on by Safeguard

Investor Update
March 9, 2016

As a reminder, on Monday, March 14, 2016, the Federal Housing Administration (FHA) will implement a set of system enhancements to the Electronic Appraisal Delivery (EAD) portal. As announced in FHA INFO 16-11, on February 26, 2016, these enhancements will further improve portal functionality, and will also address user feedback.

Read more about the EAD portal system enhancements in our online article.

To correspond with the upcoming system enhancements, on March 1, 2016, FHA published an updated version of the EAD portal Hard Stop Checks and Error Messages fact sheet. Mortgagees should review this updated fact sheet as part of their preparation for onboarding to, and subsequently using the EAD portal.

With only two onboarding phases remaining before the EAD portal’s June 27, 2016 mandatory use date, mortgagees that have not yet registered for an onboarding phase should do so now. More information is available on FHA’s EAD portal Mortgagee Onboarding Process web page.

Quick Links


HERMIT System Transition to New Business Service Provider on March 21, 2016

As announced in FHA INFO 16-09, on February 17, 2016, the Federal Housing Administration (FHA) will transition its Home Equity Reverse Mortgage Information Technology (HERMIT) system to a new Business Service Provider, Reverse Market Insight, Inc. (RMI) beginning March 21, 2016.

System Unavailable March 16-21, 2016
The HERMIT system will transition to a new host data center operated by RMI on March 21, 2016. In order to complete the transition, the HERMIT system will be unavailable from 7:00 PM (Eastern) on March 16, 2016, to 8:00 AM (Eastern) on March 21, 2016. There will be no changes to the HERMIT system’s functionality as part of the transition to the new host data center. Further, mortgagees’ system access user IDs and passwords will remain unchanged.

New Contact Information
Effective at 8:00 AM (Eastern) on March 21, 2016, the HERMIT system and HERMIT Help Desk may be reached at the following new contact points:


New Secure File Transfer Protocol Monthly Report Login Credentials Required
Following the transition to the new host data center, new Secure File Transfer Protocol (SFTP) site login credentials will be required in order for mortgagees and servicers to access their HERMIT monthly reports. The HERMIT transition team began contacting affected users last week to provide them with the new SFTP Internet Protocol (IP) address and login credentials. Users who do not receive new SFTP site login credentials by March 25, 2016 should contact the HERMIT Help Desk for assistance.

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.

Source: HUD (FHA INFO #16-13 full version)

FHA INFO #16-20: Expanded Permissive Loss Mitigation for Home Equity Conversion Mortgages (HECMs) and Mortgagee?s Optional Extension to Submitting a Due and Payable Request

Posted on by Safeguard

Investor Update
March 30, 2016

Today, the Federal Housing Administration (FHA) published Mortgagee Letter 2016-07: Expanded Permissive Loss Mitigation for Home Equity Conversion Mortgages (HECMs) and Mortgagee’s Optional Extension to Submitting a Due and Payable Request. The ML provides mortgagees with an optional extension when submitting a due and payable request where borrowers are behind on the payment of their property taxes and/or hazard insurance premium by less than $2,000.

Additionally, the ML permits mortgagees to cure a borrower’s taxes and/or insurance default so long as no cost is passed along to HUD and the mortgagee agrees to not seek loan assignment for at least a period of 3 years. It also removes a previous restriction prohibiting the use of the permissive loss mitigation options announced in ML 2015-11 for borrowers in foreclosure at the time of issuance of that mortgagee letter.

Quick Links:


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.

Source: FHA (FHA INFO #16-20 full version)

FDIC FIL-14-2016 Discontinuation of Foreclosure Proceedings

Posted on by Safeguard

Investor Update
March 2, 2016

Printable Format:
 FIL-14-2016 – PDF (PDF Help)
 
Summary:
The FDIC is clarifying supervisory expectations in existing guidance for institutions’ risk-management practices for decisions to discontinue foreclosure proceedings after initiating such actions, which are commonly referred to as abandoned foreclosures. Institutions should have appropriate policies and practices pertaining to decisions to discontinue foreclosure actions.

Statement of Applicability to Institutions With Total Assets Under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

  • Existing supervisory guidance reminds institutions of the need to establish policies and procedures for acquiring other real estate that mitigate the impact the foreclosure process has on the value of surrounding properties.
  • Institutions that initiate the foreclosure process may subsequently decide to discontinue the proceeding based on financial considerations, such as a determination that the costs to foreclose, rehabilitate, and sell a property exceed its current market value.
  • When such decisions are made after an institution has initiated foreclosure, the borrower may have already abandoned or stopped maintaining the property, which can lead to blight, crime, or an accumulation of trash, causing a negative effect on neighboring properties and the local community.
  • Institutions should have appropriate policies and practices pertaining to decisions to discontinue the foreclosure process that address:
  • Obtaining and assessing current valuation and other relevant information,
  • Releasing liens,
  • Notifying local authorities, and
  • Notifying and contacting the borrower(s).
  • FDIC Supervisory activities will include a review of institutions’ policies and practices for decisions to discontinue foreclosure proceedings.

Distribution:
FDIC-Supervised Institutions
 
Suggested Routing:
Chief Executive Officer, Chief Lending Officer, Chief Compliance Officer
 
Related Topics:
FIL-62-2008, Guidance on Other Real Estate, July 2008, https://www.fdic.gov/news/news/financial/2008/fil08062a.html
FIL-35-2007, Statement on Working with Mortgage Borrowers, April 2007, https://www.fdic.gov/news/news/press/2007/pr07032a.html
FIL-82-2010, Interagency Appraisal and Evaluation Guidelines, December 2010, https://www.fdic.gov/news/news/financial/2010/fil10082a.pdf – PDF (PDF Help)
Appendix A to Part 364 of the FDIC Rules and Regulations, https://www.fdic.gov/regulations/laws/rules/2000-8630.html#fdic2000appendixatopart364
Part 365 and Appendix A to Part 365 of the FDIC Rules and Regulations at https://www.fdic.gov/regulations/laws/rules/2000-8700.html
 
Attachment:
Discontinuation of Foreclosure Proceedings – PDF (PDF Help)

Contact:
Beverlea S. Gardner, Senior Examination Specialist, at BGardner@FDIC.gov or (202) 898-3640
 
Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC’s Web site at www.fdic.gov/news/news/financial/2016/index.html.
 
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
 
Paper copies may be obtained through the FDIC’s Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).

Source: FDIC

Fannie Mae: Updated Hawaii AAA Matrix

Posted on by Safeguard

Investor Update
March 14, 2016

The AAA Matrix provides state-specific excess fee process guidelines and includes an excess fee process overview, as well as additional procedures and specific fee request requirements.
 
The matrix refers to applicable Servicing Guide provisions and other policies. Fannie Mae provides the AAA Matrix directly to the attorneys and updates the matrices as needed.
 
The process encompasses only attorney fees for legal services provided. It does not cover costs (anything other than an attorney fee). We review and reimburse costs to servicers through the expense reimbursement (or claims) process.
 
Only attorneys may submit excess fee requests. Fannie Mae does not accept excess fee requests from servicers.

Source: Fannie Mae (Excess Attorney Fee Guidelines page full version)

Fannie Mae Single-Family Servicing News: New Number, Same Great Service

Posted on by Safeguard

Investor Update
February 24, 2016

We are continuously looking for ways to improve the customer experience and make it easier for you to do business with Fannie Mae. That is why we’re making it as simple as possible to contact us — just call 1-800-2FANNIE (1-800-232-6643) starting March 14, 2016. The new, simplified system will replace multiple phone numbers, including the Customer Contact Center, Selling Guide Support, Servicer Support Center, Loan Delivery and Custody, and more. Note that the Capital Markets Pricing and Sales Desk will continue to be reached at 1-800-752-0257.

You can start using 1-800-2FANNIE on March 14 and be directed to the assistance you need. Current numbers will remain available for a period of time following the March launch. Click here for a guide to the new menu selections on 1-800-2FANNIE and the list of numbers being retired.

Tutorial: How to Register for Fannie Mae Technology

If you are new to Fannie Mae, this course will provide the information needed to obtain access and register to become an approved user of Fannie Mae’s technology. View the tutorial here.

Build New Skills with HFI InDepth

With Housing Finance Institute® (HFI™) InDepth, you’ll learn from expert instructors and get your questions answered — all in an online virtual classroom. Register today for an upcoming course:

Visit Fannie Mae’s HFI InDepth page today to see the full calendar of classes and to register!
 
Stay Connected

Trending Topics
Here are the hot topics that are currently trending in our social network:

  • Millennials are set to make their mark on the housing market. How’s the mortgage industry responding?
  • Ever wondered if you owe more or less on your mortgage than the average American household?
  • Servicers, sign up for expanded borrower “pay for performance” incentives for HAMP mod here.

To get more info on these and other hot topics, please follow us on Twitter.

Source: Fannie Mae

Fannie Mae Single-Family Servicing News: Announcement SVC-2016-02: Servicing Guide Updates

Posted on by Safeguard

Investor Update
March 9, 2016

This Announcement communicates the following updates to the Servicing Guide:

  • Updates to Home Affordable Modification Program (HAMP) Incentive Payments
  • Semi-Annual Update to Foreclosure Time Frames
  • Future Changes to Fannie Mae’s Contact Information

Looking for News? We’ve Made it Easier to Find

Now you can find the latest Fannie Mae business updates for our Guides, technology solutions, mortgage products, and more, all in one place! Visit our newly launched News Center page. Missed a previous message or update? No problem. Use the “search” feature to quickly find previous news articles by topic. Based on your feedback, we also refreshed our Single-Family website home page to make it easier to find what you need.

Fannie Mae Standard Modification Interest Rate Adjustment Exhibit

This Exhibit provides the new Fannie Mae Standard Modification Interest Rate required for all Fannie Mae conventional mortgage loan modifications, excluding Fannie Mae HAMP Modifications.

Servicer Webinar: Expense Reimbursement Processing

Join Fannie Mae to review updated requirements for Fannie Mae’s Servicer Expense Reimbursement processing as incorporated into the Servicer Expense Reimbursement job aid posted on FannieMae.com.

The webinar will highlight the consolidation of available expense reimbursement claim line item categories and subcategories in the Black Knight Financial Services LoanSphere™ Invoicing Application, and will also answer many of the most frequently asked questions. Please register here to take advantage of this opportunity.

Build New Skills with HFI InDepth

With Housing Finance Institute® (HFI™) InDepth, you’ll learn from expert instructors and get your questions answered — all in an online virtual classroom. Register today for an upcoming course:


Visit Fannie Mae’s HFI InDepth page today to see the full calendar of classes and to register!
 
Stay Connected

Trending Topics
Here are the hot topics that are currently trending in our social network:

  • #Servicers, learn how to register to become an approved user of Fannie Mae technology.
  • We have a simpler way to find and search for servicing policy updates. Check it out here.

To get more info on these and other hot topics, please follow us on Twitter.

Source: Fannie Mae

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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