Safeguard Properties

FHFA: Fannie Mae and Freddie Mac Issue New Eligibility Requirements for Seller/Servicers

Posted on by Safeguard

On May 20, the Federal Housing Finance Agency (FHFA) issued a news release announcing new operational and financial eligibility requirements issued by Fannie Mae and Freddie Mac for all current and potential single-family mortgage Seller/Servicers.

Fannie Mae and Freddie Mac Issue New Eligibility Requirements for Seller/Servicers

FOR IMMEDIATE RELEASE

?Washington, DC – The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) are issuing new operational and financial eligibility requirements for all current and potential single-family mortgage Seller/Servicers. The operational requirements become effective no later than September 1, 2015 and the financial requirements become effective December 31, 2015. 

In response to changes taking place in the servicing industry, FHFA directed Fannie Mae and Freddie Mac, as part of their 2014 and 2015 Conservatorship Scorecards, to update their counterparty standards for mortgage servicers.  The new requirements are intended to help ensure the safe and sound operation of the Enterprises and provide greater transparency, clarity and consistency to industry participants and other stakeholders and reflect feedback received over the past several months. 

The Enterprises will communicate updated requirements to Seller/Servicers in their respective guides, bulletins and announcements and through best practices documents that provide servicers clarity about Enterprise expectations. 

“These updated operational and financial requirements will help mitigate risks associated with changes in the servicing industry,” said FHFA Director Melvin L. Watt.  “Strengthened Enterprise servicer counterparty standards should also improve access to credit and protect taxpayers by reducing market uncertainty about the Enterprises’ expectations for mortgage servicer counterparties.”

Link to Fannie Mae Statement and FAQs* 

Link to Freddie Mac Statement and FAQs*

*FAQs are identical for Fannie Mae and Freddie Mac

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

Please click here to view the news release 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.

FHFA Demonstrates Progress Toward Goal of Keeping At-Risk Families in Homes

Posted on by Safeguard

On July 15, DS News published an article discussing results from the Federal Housing Finance Agency’s (FHFA) April 2015 Foreclosure Prevention Report.

FHFA Demonstrates Progress Toward Goal of Keeping At-Risk Families in Homes

The Federal Housing Finance Agency (FHFA) demonstrated its progress toward the goal of helping distressed and at-risk families remain in their homes in the April 2015 Foreclosure Prevention Report released this week.

More than half of the nearly 3.5 million foreclosure prevention actions completed by Fannie Mae and Freddie Mac since the start of the conservatorships in September 2008 were permanent loan modifications, according to FHFA. The GSEs completed 1,806,623 permanent loan mods from September 2008 up to the last day of April, including the 14,585 they completed during that month.

“The Enterprises have completed nearly 3.5 million foreclosure prevention actions since the start of the conservatorships in September 2008,” an FHFA spokesperson said. “The numbers are good and we will continue to work with Fannie Mae and Freddie Mac to develop new strategies and tools to help borrowers avoid foreclosure and help stabilize neighborhoods.”

In fact, nearly 19,000 of the 22,000-plus foreclosure prevention actions the GSEs completed in April were home retention actions that included permanent loan mods, repayment plans, forbearance plans, and charge-offs in-lieu.

According to FHFA, the share of extend-term only permanent loan mods in April held steady at 48 percent, due to increasing house prices and a decline in the population eligible for the government’s Home Affordable Modification Program (HAMP). As of the end of April, there were 412,084 active permanent HAMP mods, down slightly from March’s total of 413,566. Modifications with principal forbearance comprised 19 percent of the total number of permanent loan mods during the month.

The number of home forfeiture actions completed by the GSEs in April (3,447), which included short sales and deeds-in-lieu of foreclosure, represented a slight increase from March’s total of 3,130. The serious delinquency rate continued to decline down from 1.76 percent at the end of March to 1.70 percent at the end of April, according to FHFA. The number of 60-plus days delinquent loans backed by the GSEs dropped from 585,156 in March down to 569,432 in April, while foreclosure starts also declined during the same period (from 22,721 down to 19,500).

In all, the GSEs completed 22,346 foreclosure prevention actions in April, lifting to total to 3,499,689 since the conservatorships began nearly seven years ago.

Click here to see the FHFA’s entire April 2015 Foreclosure Prevention Report.

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.

FHFA Announces June 12 HARP Outreach Event in Phoenix

Posted on by Safeguard

On May 27, the Federal Housing Finance Agency (FHFA) published a news release announcing its sixth event to reach homeowners who are eligible for the Home Affordable Refinance Program (HARP).

FHFA Announces June 12 HARP Outreach Event in Phoenix

HARP Refinances Surpass 3.3 Million

FOR IMMEDIATE RELEASE

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that it will hold its sixth outreach event to reach homeowners who could save on their monthly mortgage payments by refinancing through the Home Affordable Refinance Program (HARP).  Housing experts and community leaders will join FHFA policy experts for a town hall-style meeting at the Arizona Capitol Museum in Phoenix, AZ on June 12.  The event is designed to provide tools to community leaders to encourage the more than 10,000 Phoenix area residents (more than 18,000 in Arizona statewide) still eligible for HARP to take advantage of the program. 

FHFA also reported that, for the first time, the total number of borrowers who have refinanced through HARP has surpassed the 3.3 million mark.  FHFA’s first quarter Refinance Repor?t shows that more than 31,000 HARP refinances were completed through March of this year, bringing the total to 3,302,102 since inception of the program in 2009. 

FHFA Director Melvin L. Watt recently encouraged eligible borrowers to take advantage of HARP now while interest rates are still low, but announced that HARP will be extended through December 31, 2016.  For the Phoenix event, Megan Moore, special advisor to Director Watt, will moderate a p?anel discussion that will include representatives from the U.S. Department of the Treasury, Fannie Mae, Freddie Mac, and the Arizona Department of Housing.

“There are more than 10,000 homeowners in the Phoenix area, and even more statewide who could save, on average, more than $2,400 per year by refinancing through HARP,” said Watt.  “Our goal is to join forces with community leaders and other trusted sources so that borrowers who are current on their mortgage, but have little equity in their homes, know they have refinancing options and can still join the 3.3 million Americans who have saved money by refinancing through HARP.”

FHFA estimates that as of December 2014, more than 600,000 borrowers nationwide would benefit financially by refinancing through HARP.  These so-called “in-the-money” borrowers are eligible if they meet the basic HARP eligibility requirements: 

  • Their loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
  • Their mortgage must have been originated on or before May 31, 2009.
  • Their current loan-to-value ratio must be greater than 80 percent.
  • They must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.

Borrowers typically will get a financial benefit from HARP if they meet these criteria and have a remaining mortgage balance of $50,000 or more, a remaining term of greater than 10 years, and an interest rate at least 1.5 percent higher than current market rates.

Nationwide, these borrowers could save, on average, $200 or more per month on their mortgage payments, or $2,400 per year.  See the U.S. map showing the number of HARP-eligible borrowers by Metropolitan Statistical Area, county and zip code.

FHFA and the U.S. Treasury introduced HARP in early 2009 as part of the Making Home Affordable program.  HARP allows borrowers with little or no equity in their home to take advantage of low interest rates and other refinancing benefits.

FHFA launched a nationwide public awareness campaign and the website HARP.gov and HARP.gov/espanol in 2013 to reach eligible borrowers.  In 2014, FHFA began a series of outreach events in the cities with the highest numbers of eligible borrowers.  Events have been held in Chicago, Atlanta, Detroit, Miami, and Newark.  FHFA also recently launched a Twitter campaign to raise awareness about the savings available through HARP to more than 600,000 homeowners nationwide.  Follow @FHFA and #HARPFacts on Twitter for more information.

Link to Refinance Report

Link to HARP.gov

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

Please click here to view the news release 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.

FHA Publishes Responses to Comments on Rule Delaying Foreclosure on Non-Borrowing Spouses

Posted on by Safeguard

On April 30, DS News published an article discussing the Federal Housing Administration’s (FHA) response in the Federal Register to comments pertaining to the Mortgagee Optional Election Assignment for certain Home Equity Conversion Mortgages (HECMs).

FHA Publishes Responses to Comments on Rule Delaying Foreclosure on Non-Borrowing Spouses

The Federal Housing Administration (FHA) responded in the Federal Register on Wednesday to comments on the alternative path to claim payment (the Mortgagee Optional Election Assignment) for certain Home Equity Conversion Mortgages (HECMs), which centers on the delaying of foreclosure on a surviving non-borrowing spouse following a borrowing spouse’s death.

The FHA published a notice soliciting comments on the matter on February 6, and the comment period ended on March 9. In the four and a half week comment period, FHA received seven comments on the issue. Click here to see all seven comments and the complete responses from FHA. The comments centered mainly around asking FHA to clarify the eligibility requirements for surviving non-borrowing spouses (or any heir named on the title) to receive HECM relief.

FHA and HUD amended their HECM program in January prevent reverse mortgage lenders from calling the note from a surviving non-borrowing spouse – but the amendment applied only to case numbers assigned on or after August 4, 2014, and for certain eligible case numbers assigned before that date. The requirements to qualify for HECM relief shut many out, however – the servicer has to agree to assign the loan to HUD rather than pursue foreclosure, and the surviving spouse must be either older or the same age as the deceased borrower at the time the loan was originated – or the surviving spouse must pay off the entire loan amount or 95 percent of the home’s value.

In March, a group of concerned consumer advocates submitted comments totaling 65 pages to HUD expressing concerns over non-borrowing spouses facing foreclosure and eviction following the death of a borrowing spouse. In February, a CFPB report on consumer complaints regarding reverse mortgages found that the most common complaint was on surviving non-borrowing spouses suddenly facing foreclosure when a borrowing spouse dies – finding that “some consumers report that their loan originator falsely assured them that they would be able to add the other spouse at a later date.”

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.

FHA: HECM Reasonable Diligence Timeframe Extensions

Posted on by Safeguard

On April 30, the Federal Housing Administration (FHA) issued a memo announcing the immediate rescinding of Mortgage Letter 2015-03 (option of delayed foreclosure proceedings for non-borrowing spouses.)

Federal Housing Administration (FHA)

Frequently Asked Questions

—– FHA RESOURCE CENTER BULLETIN BOARD —–

Keep up to Date with Breaking FHA News – Join the FHA Info List Serv

Posted April 30th, 2015

HECM Reasonable Diligence Timeframe Extensions

The Federal Housing Administration (FHA) announced on April 30, 2015 that it is immediately rescinding Mortgagee Letter 2015-03.  For any HECM with a case number issued prior to August 4, 2014 with a non-borrowing spouse, HUD is providing HECM mortgagees with an additional 60-day extension of time in which to take first legal action to commence foreclosure, and to comply with reasonable diligence timeframes for such HECMs.  During this period debenture interest will not be curtailed. 

Mortgagees may immediately elect to begin using this extension.  Mortgagees have full discretion to elect this extension. The request for an extension is not conditioned on the continued pursuit of foreclosure or the marketing of the property. The mortgagee’s request for an extension is effective when made and FHA will not be providing any specific approval for this extension.

View these and other recent FHA INFO announcements at the FHA INFO Archive.

Please click here to view the memo online.

Please click here to view Mortgagee Letter 2015-12 [pdf].

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.

FHA Extends Effective Date of Single Family Housing Policy Handbook

Posted on by Safeguard

On April 30, the Federal Housing Administration (FHA) released a statement from Deputy Assistant Secretary for Single Family Housing Kathleen Zadareky announcing the extension of the effective date of the Single Family Housing Policy Handbook to September 14, 2015.

Statement from Deputy Assistant Secretary for Single Family Housing Kathleen Zadareky on the Decision to Extend the Implementation Date of the FHA Handbook

In response to concerns expressed by some of our stakeholders, FHA is extending the effective date of the Single Family Housing Policy Handbook to September 14, 2015.   It’s become clear over the last few months that some of our industry partners require  additional time to prepare to implement the Handbook.  We want to accommodate these requests as we believe everyone benefits from having the necessary time to thoughtfully integrate this new handbook into their business operations.

Please click here to view the statement 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.

FDIC Director Submits Resignation

Posted on by Safeguard

On May 8, the Federal Deposit Insurance Corporation (FDIC)  issued a press release announcing the resignation of Director Jeremiah O. Norton, which will be effective June 5, 2015.

Jeremiah O. Norton Submits Resignation as Director of the Federal Deposit Insurance Corporation
 
FOR IMMEDIATE RELEASE

Media Contact:
Barbara Hagenbaugh
202-898-7192
bhagenbaugh@fdic.gov

Jeremiah O. Norton submitted his resignation Friday as Director of the Federal Deposit Insurance Corporation, effective June 5, 2015.

Norton, who has served as Director since April 16, 2012, submitted his letter of resignation to President Obama.

“Jeremiah has been an extraordinarily effective and influential member of the FDIC Board,” Chairman Martin J. Gruenberg said. “He has made major contributions to important actions by the FDIC in the wake of the financial crisis. We are grateful for his service, we will miss his thoughtful insights, and we wish him well in his future endeavors.”

A copy of his resignation letter is attached. – PDF (PDF Help)

Please click here to view the press release 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.

Fannie Mae SVC-2015-08 Servicer Eligibility and Oversight Requirements

Posted on by Safeguard

On May 20, Fannie Mae released Servicing Guide Announcement SVC-2015-08, subtitled Servicer Eligibility and Oversight Requirements.

Servicing Guide Announcement SVC-2015-08

Servicer Eligibility and Oversight Requirements

Fannie Mae is amending its policies and requirements related to the following:

  • Seller/Servicer Net Worth and Liquidity Requirements
  • Subservicing and Outsource Vendor Requirements

Seller/Servicer Net Worth and Liquidity Requirements

Servicing Guide A3-3-01, Net Worth, Liquidity, and Credit Rating Requirements

Fannie Mae is updating its policies and requirements related to the seller/servicer’s net worth and liquidity. All approved sellers/servicers must have and maintain a Lender Adjusted Net Worth of at least $2.5 million, plus a dollar amount that represents 0.25% of the UPB of the seller/servicer’s total portfolio of mortgage loans serviced.

NOTE: The Lender Adjusted Net Worth for subservicers does not include mortgage loans serviced under a subservicing arrangement.

Seller/servicers that are depository institutions are required to meet the minimum regulatory capital requirements to be classified as “well capitalized” by their primary regulator.

All other entities must have a minimum Lender Adjusted Net Worth/Total Assets ratio of 6%, or equivalent, as determined by Fannie Mae.

Please click here to view the announcement in its 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 SVC-2015-07 Servicing Guide Updates

Posted on by Safeguard

On May 20, Fannie Mae released Servicing Guide Announcement SVC-2015-07, subtitled Servicing Guide Updates.

Servicing Guide Announcement SVC -2015 -07

Servicing Guide Updates

The Servicing Guide has been updated to include the following:

  • Changes to Requirements for Performing Property Inspections on Abandoned Properties
  • Updates to MI Premium Expense Reimbursement Policy
  • Updates to the Investor Reporting Manual
  • Miscellaneous Revisions
  • Updates to LL-2014-06: Advance Notice of Future Changes to Investor Reporting Requirements

Each of these updates is described below. The servicer must review each topic in the Servicing Guide in its entirety to gain a full understanding of the policy change(s).

Property Inspections on Abandoned Properties

Servicing Guide D2-2-11, Requirements for Performing Property Inspections has been updated to require the servicer to perform an interior inspection every 30 days until the foreclosure sale date once it has confirmed the property is abandoned.

Effective Date

The servicer is encouraged to implement this change immediately, but must do so no later than July 1, 2015.

MI Premium Reimbursement

Servicing Guide F-1-06, Expense Reimbursement has been updated to authorize the servicer to request reimbursement for borrower-paid mortgage insurance premium expenses paid after the date of default through liquidation.

Effective Date

The servicer is encouraged to implement this change immediately, but must do so no later than August 1, 2015.

Investor Reporting

Fannie Mae’s Investor Reporting Manual 4-02, Calculations Related to Principal Payments has been updated to correct the calculation for scheduled UPB when the mortgage loan is prepaid two or more months to indicate the use of “adjusted UPB” instead of “actual UPB.”

Effective Date

The servicer is encouraged to implement this policy change immediately, but must do so no later than August 1, 2015.

Miscellaneous Revisions

The Servicing Guide has been revised as follows:

Updated Servicing Guide Topics

Updates to LL-2014-06: Advance Notice of Future Changes to Investor Reporting Requirements

Fannie Mae is notifying the servicer of updates to LL-2014-06 as follows:

  • Specifying an effective date for the policy changes described in Lender Letter LL-2014-06. The servicer must implement the policy changes when reporting mortgage loan activity that occurs on or after February 1, 2017.
  • Changing the reporting time for all remittance types for both removal and non-removal transactions from 5 p.m. eastern time to 8 p.m. eastern time.
  • Clarifying that changes to the monthly investor reporting requirements will impact the loan activity report (LAR) format and data elements.

The servicer should contact its Servicing Consultant, Portfolio Manager, or 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 announcement 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.

Fannie Mae Standard Modification Interest Rate Adjustment

Posted on by Safeguard

On May 7, Fannie Mae issued Servicing Notice: Fannie Mae Standard Modification Interest Rate Adjustment.

Servicing Notice

Fannie Mae Standard Modification Interest Rate Adjustment

Fannie Mae is adjusting the Fannie Mae Standard Modification Interest Rate required for all Fannie Mae conventional mortgage loan modifications, excluding Fannie Mae HAMP Modifications. The servicer must implement the new interest rate indicated on the Fannie Mae Standard Modification Interest Rate Exhibit for any mortgage loan modification evaluation conducted on or after May 14, 2015.

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.

Please click here to view the notice 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.