FEMA Fire Management Assistance Declaration – Hawaii Lahaina Fire

FEMA Alert
August 9, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Hawaii to supplement state, tribal and local response efforts in areas affected by the Lahaina Fire beginning August 9, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Maui

 

Hawaii Lahaina Fire (FM-5475-HI)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – Hawaii Mauna Kea Beach Fire

FEMA Alert
August 9, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Hawaii to supplement state, tribal and local response efforts in areas affected by the Mauna Kea Beach Fire beginning August 8, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Hawaii

 

Hawaii Mauna Kea Beach Fire (FM-5478-HI)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – Hawaii Kohala Ranch Fire

FEMA Alert
August 8, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Hawaii to supplement state, tribal and local response efforts in areas affected by the Kohala Ranch Fire beginning August 8, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Hawaii

 

Hawaii Kohala Ranch Fire (FM-5474-HI)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Freddie Mac Servicing Guide – Industry Pricing Update

Industry Update
August 9, 2023

Source: Freddie Mac

An increase in the reimbursement expense limits for certain expense codes for the preservation and maintenance of vacant properties has been updated for Freddie Mac.  Click the source link above to learn more.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

U.S. Foreclosure Activity Dips in July 2023 While Lender Repossessions Continue to Climb

Industry Update
August 10, 2023

Source: ATTOM

ATTOM, a leading curator of land, property, and real estate data, today released its July 2023 U.S. Foreclosure Market Report, which shows there were a total of 31,877 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 9 percent from a month ago but up 5 percent from a year ago.

“The slight decline in foreclosure filings we are seeing is yet another sign of a rebounding housing market,” said Rob Barber, CEO at ATTOM. “With home prices back up, several factors have combined to put more financial resources in the hands of homeowners, providing more options to avoid foreclosure. However, given with the U.S. housing market remains in flux, the various forces at play could keep the market improving or turn it back downward over the coming months.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Mortgage Delinquencies Decrease in the Second Quarter of 2023

Industry Update
August 10, 2023

Source: Mortgage Bankers Association

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.37 percent of all loans outstanding at the end of the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

The delinquency rate was down 19 basis points from the first quarter of 2023 and down 27 basis points from one year ago. The percentage of loans on which foreclosure actions were started in the second quarter fell by 3 basis points to 0.13 percent.

“The seasonally-adjusted mortgage delinquency rate fell to its lowest level since MBA’s survey began in 1979, reaching 3.37 percent in the second quarter of 2023,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments.”

Walsh noted that delinquencies fell across all mortgage types – conventional, FHA, and VA. Both foreclosure starts and foreclosure inventory also declined relative to the previous quarter.
Added Walsh, “Despite low delinquency rates, there are early signs of possible consumer credit stress. Delinquencies are rising for other forms of credit such as credit cards and car loans[1]. In addition, FHA delinquencies rose 10 basis points compared to year ago levels. On a non-seasonally adjusted basis, FHA delinquencies rose 13 basis points year-over-year and 71 basis points from the first quarter of 2023. As the economy slows and labor market cools, homeowners with FHA loans are likely to feel the distress first.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Fannie REO Inventory Decreased in Q2

Industry Update
August 9, 2023

Source: Calculated Risk

Fannie reported results for Q2 2023. Here is some information on single-family Real Estate Owned (REOs).

Foreclosure have increased slightly year-over-year since the end of the foreclosure moratorium.

Fannie Mae reported the number of REOs decreased to 8,615 at the end of Q2 2023, down from 8,780 in Q1 2022, and up 13% from 7,637 at the end of Q2 2022.

For Fannie, this is down 95% from the 166,787 peak number of REOs in Q3 2010.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Wildfires Burning in Hawaii, Fanned by Intense Winds, Force Evacuations

Disaster Alert
August 9, 2023

Source:  The Washington Post

Several large wildfires raging on two of Hawaii’s islands are expected to cause “some of loss of life,” the governor said Wednesday.

The blazes have destroyed much of the popular tourist town of Lahaina on the island of Maui, and hundreds of families have been displaced, Gov. Josh Green (D) said. The fires caused mass evacuations, widespread power outages and structural damage on the island.

Dry conditions and forceful winds connected to Hurricane Dora also ignited fires on the island of Hawaii, known as the Big Island. Officials warned residents of possible “imminent disaster due to property damage and/or bodily injury.”

Green, who is out of state on personal travel, addressed the crisis in a statement Wednesday. His office said he was returning to Hawaii “immediately.” On Tuesday, Sylvia Luke (D), who is serving as acting governor, declared an emergency relief period through at least Aug. 15 and activated the Hawaii National Guard to help with evacuation efforts and disaster response. The fires have destroyed hundreds of acres in regions including Kula, North Kohala and South Kohala.

“The wind-fueled fires have devastated many of our communities and people will be looking to our office for leadership while we address the ongoing emergency and do what we can as a state to rebuild lives,” Green said in a statement.

Active fires in last 48 hours (Aug. 8-9)

The state government plans to request a disaster declaration from the White House, which Green said had been supportive. FEMA is helping in the response effort.

Months of drought primed the islands for fire risks, with more than a third of Maui County under at least moderate drought as of Aug. 1, according to the U.S. Drought Monitor. Abnormally dry conditions developed rapidly there in June and have persisted, with slightly below-normal precipitation during what is a typically dry time of year.

Weather patterns have allowed fires to spread quickly. A strong high-pressure system north of the islands is keeping conditions dry and sunny, and tradewinds have intensified as Category 4 Dora passes hundreds of miles to the south. The difference between that high pressure zone and Dora’s low pressure has fueled damaging winds, the National Weather Service said.

The agency posted high-wind warnings of gusts up to 60 mph for portions of Maui on Tuesday. The warning was downgraded to an advisory on Wednesday morning as winds began to ease; only a few locations were reporting gusts over 50 mph, the Weather Service said.

Winds are expected to continue easing Wednesday and in the coming days as Dora moves westward away from Hawaii, the Weather Service said, but beneficial rain is not expected.

“Dry and stable conditions will persist today with near zero rainfall in the forecast for most locations,” Weather Service meteorologists wrote in a forecast discussion Wednesday morning.

Across the island, more than 14,000 customers lost power. People trying to drive to safety posted on Twitter, recently renamed X, that they were hampered by long traffic delays and road closures. The National Weather Service warned residents to expect “difficult travel.”

Videos shared to social media Wednesday showed flames engulfing the streets of Lahaina, which has about 13,000 residents. The U.S. Coast Guard rescued 12 people who had fled into the ocean to avoid smoke and flames. In West Maui, 911 service was unavailable.

Kahului Airport, Maui’s main airport, was sheltering 2,000 people from arrivals and canceled flights. Hawaii’s government discouraged nonessential air travel to the state.

Firefighters responding to the blazes faced strong winds, which officials said “made it impossible to provide aircraft support.” The winds prevented helicopters from dumping water onto the fires and gathering more information about the blazes, the Associated Press reported. A firefighter working in West Maui suffering from smoke inhalation and was taken to a hospital and was stable condition Tuesday, authorities said.

“It’s definitely one of the more challenging days for our island given that it’s multiple fires, multiple evacuations in the different district areas,” County of Maui spokeswoman Mahina Martin told the AP late Tuesday.

Maui County Mayor Richard Bissen issued an emergency proclamation and said the area had suffered structural damage, though the extent was unclear. Several schools in Maui closed amid the strong winds, with officials citing “unsafe campus conditions and damage” caused by the brush fires and weather. The state’s Education Department said Wednesday that Maui High school would be used as an evacuation shelter.

Jennifer Lucander, whose Facebook page says she is from Massachusetts and is on vacation in Hawaii, wrote on the social media platform that she was forced to evacuate Lahaina as debris “was flying everywhere.” It was “the scariest thing,” she said.

“We are supposed to fly out at noon tomorrow … fingers crossed!” she wrote alongside images of thick smoke plumes rising above palm trees. “Praying for everyone in West Maui.”

Wildfires typically burn about 0.5 percent of Hawaii’s land area each year, according to the Hawaii Wildfire Management Organization. The proportion is on par with, if not greater than, what is burned in other U.S. states, the nonprofit said.

While fires were once largely tied to volcanic eruptions and rare dry lightning strikes, they have become more common over the past century as humans have introduced more nonnative fire-prone grasses and shrubs and more sources of ignition, the wildfire management group said. Nonnative grasslands and shrub lands cover nearly a quarter of Hawaii’s total land area, and they are becoming more flammable as climate change brings warmer, drier conditions.

 

To read the full articles, please click the source links above.

FEMA Fire Management Assistance Declaration – Alaska Lost Horse Creek Fire

FEMA Alert
August 3, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Alaska to supplement state, tribal and local response efforts in areas affected by the Lost Horse Creek Fire beginning August 3, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Fairbanks North Star

 

Alaska Lost Horse Creek Fire (FM-5473-AK)

List of Affected Zip Codes

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Ginnie Mae Launches New Environmental, Social and Governance Composite and Webpage

Industry Update
July 28, 2023

Source: Ginnie Mae

Ginnie Mae announced the addition of a new Environmental, Social, and Governance (ESG) webpage to the Ginnie Mae website, which provides details on the organization’s ESG strategy with a focus on the environmental and social impacts our MBS program offers to investors.

Ginnie Mae has also published its first monthly ESG composite for June 2023. This visual depiction of mortgage-backed securities (MBS) data allows Ginnie Mae to highlight the program’s positive impact and key ESG metrics for investors at a glance.

Ginnie Mae’s MBS program was established 55 years ago with a clear mission to support homeownership and affordable rental opportunities for all Americans, with a special focus on low- and moderate-income and historically underserved communities. The mortgage collateral underlying Ginnie Mae’s MBS program demonstrates the incredible reach and impact the agency has had on households across the United States. In light of the growing market and investor interest in sustainability and social impact investing opportunities, Ginnie Mae has focused on adding transparency and deeper data for investors and the public through its disclosure program.

“An investment in Ginnie Mae Mortgage-Backed Securities is an investment in the housing needs of the communities we and our government insuring agency partners serve,” said Ginnie Mae President Alanna McCargo. “Our new ESG composite outlines a clear composition of the borrowers and renters our program reaches, making the collective impact of government mortgage financing programs very clear at a glance.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

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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