Safeguard Properties

Fannie Mae RVS-2015-02 Reverse Mortgage Loan Servicing Manual Update

Posted on by Safeguard

On June 10, Fannie Mae released an announcement titled Reverse Mortgage Loan Servicing Manual Update.

Reverse Mortgage Loan Servicing Manual Announcement RVS-2015-02

Reverse Mortgage Loan Servicing Manual Update

Fannie Mae is updating its policies and requirements in the Reverse Mortgage Loan Servicing Manual (Reverse Manual) 4-05, Initiation of Foreclosure Proceedings, to authorize the servicer to submit a request for a short sale when the surviving spouse or heir(s) request to purchase the property and the transaction is not arms length. The parties involved in such a short sale transaction are required to provide a signed Short Sale Affidavit (Form 191) at closing; however, the servicer must revise the form to delete the arms length requirement between the seller(s) and buyer(s).

Policy Change Effective Date

The servicer must implement these policy changes by August 1, 2015.

The servicer should contact its Reverse Mortgage Loan Servicing Representative in Fannie Mae’s Credit Portfolio Management’s Servicer Support Center at 1-888-FANNIE5 (1-888-326-6435) with any questions regarding this Announcement.

Malloy Evans
Vice President
Credit Portfolio Management

Please click here to view the online announcement.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

Fannie Mae File Transfer Portal Version 4.0 Release Notes

Posted on by Safeguard

On June 5, Fannie Mae announced the implementation of File Transfer Portal Version 4.0, scheduled for the weekend of July 11, 2015.

File Transfer Portal Version 4.0 Release Notes

The File Transfer Portal (FTP) application helps to move data quickly between external entities and Fannie Mae applications. This release includes many technical improvements that will make the application more robust and efficient but should be relatively transparent to users. (The details of the technical tickets are not included in this document but can be supplied to anyone interested in them.)

Fannie Mae will implement FTP Release 4.0 over the weekend of July 11, 2015.

Please click here to view the release notes in their entirety.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

Fannie Mae Disaster Assistance Reminder

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On June 5, Fannie Mae released an update reminding servicers of policies that have been put in place to assist impacted borrowers following a disaster. 

Providing Assistance to Borrowers Following a Disaster
Servicers are reminded that Fannie Mae has selling and servicing policies to assist impacted borrowers (or potential borrowers) following a disaster, such as the recent flooding in Texas and Oklahoma. Refer to Assistance in Disasters for information on where to find Fannie Mae’s policies for providing assistance to borrowers impacted by a disaster:

Following a disaster, we rely on our customers to implement our disaster relief policies and assist impacted homeowners. We require servicers to assess property damage and the needs of homeowners in order to provide appropriate relief. In addition, our Account Teams work closely with our customers to determine physical and operational impacts to their business operations and their ability to service mortgages owned or guaranteed by Fannie Mae.
 
How to Respond in the Event of a Disaster
 
Look for Fannie Mae Announcements
When a significant disaster occurs that adversely affects either the value or habitability of mortgaged properties or borrower’s ability to make further payments or payments in full on mortgage loans, we may issue special announcements such as press releases, Guide Announcements, Lender Letters, or Notices with updates or temporary relief policies.
 
Refer to the Selling Guide and Servicing Guide
For mortgage loans not yet acquired by Fannie Mae, the Selling Guide describes our policies related to properties affected by a disaster. We also provide relief by providing lenders with mortgage loan flexibilities for borrowers seeking a mortgage loan following a disaster. Our servicing policies related to disasters are included the Servicing Guide and may be amended by Servicing Guide Announcements or Lender Letters.
 
Where to Find Selling Guide Requirements for Disaster Relief
Our selling policy covering disasters can be found in the Selling Guide in the following topics:

  • B2-3-05, Properties Affected by a Disaster;
  • B3-4.3-07, Disaster Relief Grants or Loans;
  • B5-4-02, Disaster-Related Limited Cash-Out Refinance Flexibilities; and
  • B5-5.2-01, DU Refi Plus and Refi Plus Eligibility.

In addition, borrowers may use lump-sum disaster-relief grants or loans to satisfy Fannie Mae’s minimum borrower contribution requirement.
 
Where to Find the Servicing Guide Requirements for Disaster Relief
Our servicing policy covering disasters can be found in the Servicing Guide in Chapter D1-3: Providing Assistance to a Borrower Impacted by a Disaster.

Please click here to view Assistance in Disasters online.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

VA Circular 26-15-9: Servicer Statutory Redemption Procedure

Posted on by Safeguard

Investor Update
May 18, 2015

1. Purpose. This Circular provides guidance on the procedure to redeem a Department of Veterans Affairs (VA) property, post-foreclosure, in a state which allows “statutory redemption.” The standardization of the procedure will ensure the accuracy and uniformity of the redemption process for foreclosed properties, guaranteed by VA loans, which were transferred to VA prior to the expiration date of the redemption period.

2. Background. Statutory redemption, as opposed to equitable redemption, is permitted in only those states whose foreclosure statutes provide that a (former) borrower may redeem their mortgage after foreclosure of their home has occurred, within a specified period of time. The redemption period varies by the state statute and ranges from 30 days to 2 years. At the time of redemption, the entire underlying mortgage debt, plus interest and other costs (such as foreclosure fees and expenses) are due. In most cases, redeemed property has been transferred to VA from the servicer prior to the end of the redemption period. At redemption, however, the (former) borrower or local authority, such as the sheriff’s office, obtains the payoff figure from the loan servicer or foreclosure attorney and pays this amount to the loan servicer. The loan servicer transmits the redemption funds to VA through its property management contractor, Vendor Resource Management (VRM).

a. Redemption payments to VRM are payable to “The Secretary of Veterans Affairs” and can be made by check or a direct bank transfer pursuant to the instructions located on the VALERI website at: http://www.benefits.va.gov/HOMELOANS/documents/docs/Redemption_instructions.pdf.

3. Concerns. In some instances, loan servicers are providing the redeeming party an inaccurate redemption quote because it does not take into account fees and costs VA has incurred during the period in which VA owned the property, post-foreclosure sale. These fees and costs include, but are not limited to, homeowner association fees, real estate taxes, other assessments and certain VRM fees. VRM, not the loan servicer, is the only party who can calculate an accurate redemption amount because VRM facilitates the disbursement and tracking of VA funds expended during the period of VA ownership of foreclosed properties. When loan servicers provide a redemption quote without first consulting VRM for the exact figure, the amount redeemed may be insufficient to reimburse VA for property-related expenses.

4. Notice. Effective immediately, all loan servicers are required to request a redemption quote from VRM, through an email to VRM?redemption@vrmco.com, at least 5-business days before they intend to provide the information to the redeeming party. If the former borrower indicates that time is of the essence due to the imminent expiration of the redemption period, the loan servicer should indicate the urgency and request expedited processing. The e-mail request to VRM should include the property address, the VA loan identification number, the former borrower’s name, and the VRM Asset ID Number, if available.

VRM will provide an e-mail response containing the total redemption amount due within 2-business days of receipt. The figure provided by VRM will be the only redemption quote acceptable to VA. If a non-VRM quote is used by the loan servicer and VA or VRM later determines that the redemption amount collected was insufficient to reimburse VA’s costs, VA may request the amount of the deficiency from the loan servicer.

5. Rescission: This Circular is rescinded January 1, 2018.

By Direction of the Under Secretary for Benefits

Michael J. Frueh
Director, Loan Guaranty Service

Source: VA

VA Circular 26-15-19 Servicer Statutory Redemption Procedure

Posted on by Safeguard

On May 18, the U.S. Department of Veterans Affairs (VA) issued Circular 26-15-9 , subtitled Servicer Statutory Redemption Procedure.

Veterans Benefits Administration Circular 26-15-9
Department of Veterans Affairs
Washington, DC 20420

Servicer Statutory Redemption Procedure

1. Purpose. This Circular provides guidance on the procedure to redeem a Department of Veterans Affairs (VA) property, post-foreclosure, in a state which allows “statutory redemption.” The standardization of the procedure will ensure the accuracy and uniformity of the redemption process for foreclosed properties, guaranteed by VA loans, which were transferred to VA prior to the expiration date of the redemption period.

2. Background. Statutory redemption, as opposed to equitable redemption, is permitted in only those states whose foreclosure statutes provide that a (former) borrower may redeem their mortgage after foreclosure of their home has occurred, within a specified period of time. The redemption period varies by the state statute and ranges from 30 days to 2 years. At the time of redemption, the entire underlying mortgage debt, plus interest and other costs (such as foreclosure fees and expenses) are due. In most cases, redeemed property has been transferred to VA from the servicer prior to the end of the redemption period. At redemption, however, the (former) borrower or local authority, such as the sheriff’s office, obtains the payoff figure from the loan servicer or foreclosure attorney and pays this amount to the loan servicer. The loan servicer transmits the redemption funds to VA through its property management contractor, Vendor Resource Management (VRM).

a. Redemption payments to VRM are payable to “The Secretary of Veterans Affairs” and can be made by check or a direct bank transfer pursuant to the instructions located on the VALERI website at:
http://www.benefits.va.gov/HOMELOANS/documents/docs/Redemption_instructions.pdf.

3. Concerns. In some instances, loan servicers are providing the redeeming party an inaccurate redemption quote because it does not take into account fees and costs VA has incurred during the period in which VA owned the property, post-foreclosure sale. These fees and costs include, but are not limited to, homeowner association fees, real estate taxes, other assessments and certain VRM fees. VRM, not the loan servicer, is the only party who can calculate an accurate redemption amount because VRM facilitates the disbursement and tracking of VA funds expended during the period of VA ownership of foreclosed properties. When loan servicers provide a redemption quote without first consulting VRM for the exact figure, the amount redeemed may be insufficient to reimburse VA for property-related expenses.

4. Notice. Effective immediately, all loan servicers are required to request a redemption quote from VRM, through an email to VRM?redemption@vrmco.com, at least 5-business days before they intend to provide the information to the redeeming party. If the former borrower indicates that time is of the essence due to the imminent expiration of the redemption period, the loan servicer should indicate the urgency and request expedited processing. The e-mail request to VRM should include the property address, the VA loan identification number, the former borrower’s name, and the VRM Asset ID Number, if available.

VRM will provide an e-mail response containing the total redemption amount due within 2-business days of receipt. The figure provided by VRM will be the only redemption quote acceptable to VA. If a non-VRM quote is used by the loan servicer and VA or VRM later determines that the redemption amount collected was insufficient to reimburse VA’s costs, VA may request the amount of the deficiency from the loan servicer.

5. Rescission: This Circular is rescinded January 1, 2018.

By Direction of the Under Secretary for Benefits

Michael J. Frueh
Director, Loan Guaranty Service

Please click here to view the online circular.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

Representative Waters Asks HUD for More Transparency for Non-Borrowing Spouses on HECMs

Posted on by Safeguard

On May 28, DS News published an article discussing a letter written by U.S. Representative Maxine Waters (D-California) to Department of Housing and Urban Development (HUD) Secretary Julian Castro.

Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs

U.S. Representative Maxine Waters (D-California) has written a letter to Department of Housing and Urban Development (HUD) Secretary Julián Castro asking for relief and more transparency for seniors participating in HUD’s Home Equity Conversion Program (HECM).

At the center of the issue is the fate of surviving non-borrowing spouses upon the death of the last remaining note holder listed on the mortgage for HECM participants. In late April, the Federal Housing Administration (FHA) has issued a memo announcing the rescinding of a mortgagee letter written in January that would have allowed reverse mortgage lenders the option of delaying foreclosure proceedings on surviving non-borrowing spouses.

In an announcement regarding the letter to Castro, Waters said that many senior citizens have faced foreclosure or will face foreclosure due to “fraudulent lending practices” on the part of lenders surrounding HUD’s previous protocol for the HECM program. Until recently, the age of the youngest borrower was used in calculating the payout on the reverse mortgage, which Waters said created a “perverse incentive” for the lenders to remove the younger borrower from the mortgage title. Waters said lenders deceived borrowers in many cases about the consequences of removing the younger borrower from the title, and many non-borrowing spouses were foreclosed on as a result.

Waters told the HUD Secretary in her letter that while the Department has taken a number of steps to address the issue, she believes that HUD “has fallen short of providing meaningful relief or transparency in its decision-making process.”

As a result of this, she suggested that HUD revisit the issue in order to make some changes.

“[F]irst, I urge the Department to carefully study this issue, and recalibrate the Department’s response based on the concerns articulated in this letter,” Waters wrote. “Secondly, I urge you to share the data requested herein with my office so that Congress and the public can better understand the scope of the challenges facing impacted senior homeowners.”

Waters said she was especially concerned about non-borrowing spouses with HECM loans that were originated prior to August 4, 2014, saying there is a “lack of relief” provided to those affected and that HUD showed a “lack of transparency” in its decision-making process.

“I urge you to reconsider the limited scope of relief that HUD has offered thus far in response to the concerns raised by senior borrowers and advocates working on their behalf,” Waters said. “While I understand the tension created by the need to balance the fiscal condition of the MMIF (Mutual Mortgage Insurance Fund), and to protect borrowers who have been victimized by unfair lending tactics, I hope that HUD will do everything in its power to provide much needed relief to these senior citizens.”

A spokesperson for HUD told DS News in an email, “we’ve received Congresswoman Waters’ letter and will be responding to her concerns shortly.”

To read the full text of Waters’ letter, click here.

Please click here to view the article online.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA Program Update: SD 15-04 Making Home Affordable Program Extension and Administrative Clarifications

Posted on by Safeguard

On May 21, Making Home Affordable (MHA) released an update titled MHA Program Extension and Administrative Clarifications.

MHA Program Update

Supplemental Directive 15-04: Making Home Affordable Program Extension and Administrative Clarifications

Today, May 21, 2015, Supplemental Directive (SD) 15-04: Making Home Affordable (MHA) Program – MHA Program Extension and Administrative Clarifications was issued providing guidance to servicers for implementation of the extension of MHA for Non-GSE Mortgages, specifically the:

  • Home Affordable Modification Program® (HAMP),
  • Home Affordable Unemployment Program?(UP),
  • Home Affordable Foreclosure Alternatives® (HAFA) Program,
  • Second Lien Modification Program? (2MP),
  • Treasury Federal Housing Administration HAMP (Treasury FHA-HAMP), and
  • Rural Development HAMP (RD-HAMP).

In addition, this Supplemental Directive provides administrative updates and clarifications to HAMP®, UP, and HAFA®.

The guidance in this SD applies to servicers that are subject to the terms of a Servicer Participation Agreement (SPA).

This Supplemental Directive amends and supersedes the notated portions of the Handbook and is effective immediately.

This SD does not apply to mortgage loans that are:

  • owned, securitized or guaranteed by Fannie Mae or Freddie Mac,
  • insured or guaranteed by the Department of Veterans Affairs, and
  • except as stated herein, insured or guaranteed by the Federal Housing Administration or by the Department of Agriculture’s Rural Housing Service.

Read SD 15-04 in its entirety for more information.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA Program Update: SD 15-03 Verification of Dodd-Frank Certification

Posted on by Safeguard

On May 6, Making Home Affordable (MHA) released an update titled Supplemental Directive (SD) 15-03: Verification of Dodd-Frank Certification.

MHA PROGRAM UPDATE

Supplemental Directive (SD) 15-03: Verification of Dodd-Frank Certification

Today, May 6, 2015, Supplemental Directive 15-03: Making Home Affordable Program – Verification of Dodd-Frank Certification on GSE HAMP Loans Under a GSE Amended SPA was issued providing additional guidance with respect to matters described in SD 15-01, specifically, compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The guidance in this SD applies only to servicers that are subject to a GSE Amended SPA (as defined in SD 15-01), and only with respect to Treasury Funded GSE HAMP Loans (as defined therein).

This SD covers the following topics:

  • Overview
  • Borrower Eligibility & Compliance Portal
  • Loan Selection
  • Servicer Documentation
  • Vendor Review and Alert Notification
  • Alert Clearance Process
  • Reporting Clearance Status
  • Treasury System Reporting and Incentives

This SD amends and supersedes the notated portions of the Handbook and is effective September 1, 2015.

This SD does not apply to:

  • servicers who are not subject to a GSE Amended SPA;
  • mortgage loans insured or guaranteed by the Department of Veterans Affairs, the Department of Agriculture’s Rural Housing Service or the Federal Housing Administration; and
  • any other Non-GSE mortgages.

Read SD 15-03 in its entirety for more information.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update September 2015 HAMP Reporting Tool Release Preview

Posted on by Safeguard

On April 30, Making Home Affordable (MHA) released a HAMP Reporting Update, subtitled September 2015 HAMP Reporting Tool Release Preview.

HAMP REPORTING UPDATE

September 2015 HAMP Reporting Tool Release Preview

On September 1, 2015, the HAMP® Reporting System, including the HAMP Reporting Tool, will receive an update to support the following:

  • Enhancement of Borrower “Pay for Performance” Incentives under HAMP, Treasury FHA-HAMP and RD-HAMP
  • Recast of Loans Modified Under HAMP
  • Dodd-Frank Certification Reporting for GSE Loans
  • Servicer Incentive Increase for Completed Modifications
  • Clarifications for GSE Repurchase Reporting
  • Extension of Non-GSE HAMP, 2MP, Treasury FHA-HAMP, RD-HAMP and HAFA Programs
  • Interface File Changes and Edit Updates

Please refer to the Release Preview for more details on these updates.

Updated Data Dictionaries

In connection with the September 2015 release, updated versions of the following Data Dictionaries were posted on HMPadmin.com:

MHA Compensation Matrix

The MHA Compensation Matrix has been updated. Please refer to this document for a summary of servicer, investor, and borrower compensation by program.

Questions?
Email the HAMP Solution Center or call 1-866-939-4469.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

MHA HAMP Reporting Update April 2015 UP Survey Reminder

Posted on by Safeguard

On May 8, Making Home Affordable (MHA) released a HAMP Reporting Update, subtitled April 2015 UP Survey Reminder.

HAMP REPORTING UPDATE

April 2015 UP Survey Reminder

The April 2015 Home Affordable Unemployment Program (UP) survey will be available on HMPadmin.com (login required) beginning Friday, May 15, 2015. Servicers that have executed a Servicer Participation Agreement (SPA) and have cumulative UP forbearance activity must complete and upload their UP survey response to the HAMP Reporting Tool by Friday, May 22, 2015.

SPA servicers that have any cumulative UP forbearance activity as of April 30, 2015 should submit an UP survey by May 22, 2015.

For details on downloading and submitting the UP survey response, log in to HMPadmin.com, navigate to the HAMP Loan Reporting Tools & Documents area, and select the UP Survey tab.

Questions?
For more information, email the HAMP Solution Center or call 1-866-939-4469.

For questions specifically regarding the survey contents, email the HAMP Servicer Survey team.

Please click here to view the online update.

About Safeguard 
Safeguard Properties is the mortgage field services industry leader, preserving vacant and foreclosed properties across the U.S., Puerto Rico, Virgin Islands and Guam. Founded in 1990 by Robert Klein and headquartered in Cleveland, Ohio, Safeguard provides the highest quality service to our clients by leveraging innovative technologies and proactively developing industry best practices and quality control procedures. Consistent with Safeguard’s values and mission, we are an active supporter of hundreds of charitable efforts across the country. Annually, Safeguard gives back to communities in partnership with our employees, vendors and clients. We also are dedicated to working with community leaders and officials to eliminate blight and stabilize neighborhoods. Safeguard is dedicated to preserving today and protecting tomorrow.  Website: www.safeguardproperties.com.

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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