FEMA Major Disaster Declaration – Florida Hurricane Idalia

FEMA Alert
August 31, 2023

***UPDATED 10/5/23***

FEMA has issued a Major Disaster Declaration for areas of the state of Florida to supplement state, tribal and local recovery efforts in the areas affected by Hurricane Idalia beginning August 27, 2023 and continuing.  The following areas has been approved for assistance:

Individual Assistance:

  • Charlotte
  • Citrus
  • Columbia
  • Dixie
  • Gilchrist
  • Hamilton
  • Hernando
  • Hillsborough
  • Jefferson
  • Lafayette
  • Levy
  • Madison
  • Manatee
  • Pasco
  • Pinellas
  • Sarasota
  • Suwannee
  • Taylor

Public Assistance:

  • Alachua
  • Baker
  • Bay
  • Bradford
  • Brevard
  • Calhoun
  • Charlotte
  • Citrus
  • Clay
  • Collier
  • Columbia
  • DeSoto
  • Dixie
  • Duval
  • Flagler
  • Franklin
  • Gadsden
  • Gilchrist
  • Gulf
  • Hamilton
  • Hardee
  • Hernando
  • Hillsborough
  • Jefferson
  • Lafayette
  • Lake
  • Lee
  • Leon
  • Levy
  • Liberty
  • Madison
  • Manatee
  • Marion
  • Nassau
  • Orange
  • Osceola
  • Pasco
  • Pinellas
  • Polk
  • Putnam
  • Sarasota
  • Seminole
  • St. Johns
  • Sumter
  • Suwannee
  • Taylor
  • Union
  • Volusia
  • Wakulla

 

Florida Hurricane Idalia (DR-4734-FL)

President Joseph R. Biden, Jr. Approves Major Disaster Declaration for Florida

Map of Affected Areas

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 Emergency Management Declaration – South Carolina Hurricane Idalia

FEMA Alert
August 31, 2023

FEMA has issued an Emergency Management Declaration for the state of South Carolina to supplement state and local response efforts to the emergency conditions in the areas affected by Hurricane Idalia beginning August 29, 2023 and continuing.  The following areas has been approved for assistance:

Public Assistance:

  • Abbeville
  • Aiken
  • Allendale
  • Anderson
  • Bamberg
  • Barnwell
  • Beaufort
  • Berkeley
  • Calhoun
  • Charleston
  • Cherokee
  • Chester
  • Chesterfield
  • Clarendon
  • Colleton
  • Darlington
  • Dillon
  • Dorchester
  • Edgefield
  • Fairfield
  • Florence
  • Georgetown
  • Greenville
  • Greenwood
  • Hampton
  • Horry
  • Jasper
  • Kershaw
  • Lancaster
  • Laurens
  • Lee
  • Lexington
  • Marion
  • Marlboro
  • McCormick
  • Newberry
  • Oconee
  • Orangeburg
  • Pickens
  • Richland
  • Saluda
  • Spartanburg
  • Sumter
  • Union
  • Williamsburg
  • York

 

South Carolina Hurricane Idalia (EM-3597-SC)

President Joseph R. Biden, Jr. Approves Emergency Declaration for South Carolina

Map of Affected Areas

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

Hurricane Idalia Tracker Map Shows Flood Risks as Carolinas Impacted

Disaster Alert
August 31, 2023

Source:  MSN/Newsweek; National Hurricane Center

Hurricane Idalia has been downgraded to a tropical storm after making landfall in Florida on Wednesday and tearing across the northern portion of the state and into Georgia and South Carolina, leaving destruction and flooding in its wake.

According to the latest tracking by the National Hurricane Center, as of 2 a.m. ET, the storm was still circulating along the coast of South Carolina, and is expected to move northwards, impacting parts of the North Carolina coastline, before arching back out into the Atlantic Ocean by 8 p.m. on Thursday.

In North Carolina, Governor Roy Cooper told residents to “batten down the hatches for a little while” in a press conference on Wednesday, as he authorized the deployment of the state’s National Guard to worst-affected areas.

A forecast map produced by the National Hurricane Center shows the greatest risk of flash flooding is now in eastern North Carolina, between Wilmington and Hatteras, where there is a 40 percent chance of a deluge across Thursday.

A large swathe of South Carolina still faces a 5-15 percent chance of excessive rainfall leading to flooding, and the risk of flash flooding across northern and western Florida—including Tampa Bay and the areas surrounding Tallahassee—is expected to persist until Saturday.

Western coastal regions of Florida saw storm surge flooding ahead of Idalia’s arrival, while it was still a Category 4 hurricane in the Gulf of Mexico. Storm surge is a rise in the sea level beyond tidal changes that precede the arrival of an impending storm and can cause severe flooding as seawater breaches coastal defenses.

The potential for storm surge flooding is now far more limited, with the coastline of the Carolinas between Jacksonville, South Carolina, and the Pamlico Sound in North Carolina predicted to see several feet of surging sea water, as of 11 p.m. ET on Wednesday.

The area between Savannah and Myrtle Beach is likely to see the worst storm surge flooding, National Hurricane Center maps show, with seawater rising to in excess of six feet above localized ground levels in parts. Meteorologists at the agency give a one in 10 chance of storm surge reaching such levels.

As of 2 a.m. ET on Thursday, though, the only part of the East Coast under a storm surge warning was the interior coastline of Pamlico Sound.

In Charleston, South Carolina, storm surge flooding overcame the sea wall, pouring ankle-height water onto the city’s streets, the Associated Press reported.

The National Weather Service (NWS) said in its latest forecast that the tropical storm was interacting with the coastline and still producing “very heavy precipitation over portions of South and North Carolina.”

It added that because Idalia was “fairly close to the coast,” with much of its circulation occurring over water, “not much additional weakening is anticipated.” Cyclones feed on warm seawater and typically degrade rapidly over land.

However, NWS meteorologists said that its continued interaction with the coast will likely prevent it from strengthening again as it moves out into the Atlantic later in the week—suggesting subsequent coastal impacts may be limited.

“Although it seems likely that the cyclone will move rather slowly in the two-five day time frame, the details of its track are uncertain due to significant track model differences in the latter part of the forecast period,” the NWS cautioned.

Newsweek approached the NWS station in Raleigh, North Carolina, via email for comment on Thursday.

Despite leaving a path of destruction in its wake, officials have yet to confirm any deaths directly due to the impacts of Idalia. Two people were killed in hurricane-related car crashes in Florida ahead of the storm’s arrival, the state’s highway patrol said, according to numerous reports.

 

***Note: FEMA has approved an Emergency Management Declaration for Tropical Storm Idalia, but has not issued a Major Disaster Declaration at this time.   We will update you as more information becomes available.***

To order an inspection, please log-in to your SafeView Access account.

 

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

Hurricane Idalia Makes Landfall in Florida as a Dangerous Category 3 Storm

Disaster Alert
August 30, 2023

Source:  CNN

The center of Hurricane Idalia has slammed Florida’s Big Bend at dangerous Category 3 strength – inflicting deadly storm surge and catastrophic winds not seen in that Gulf Coast area in 125 years. And its destruction is expected to keep unfolding far beyond the landfall zone.

Idalia’s core hit shore Wednesday morning near Keaton Beach, around where the panhandle meets the peninsula. As of 9 a.m. ET, it was whipping top sustained winds of 110 mph as it threatened inland Florida and the Georgia and South Carolina coasts with intense flooding, ferocious winds and tornadoes, the National Hurricane Center said.

In the vulnerable island city of Cedar Key, a water level record was shattered amid 8 to 9 feet of storm surge. And the water was still rising fast – predicted to hurl seawater as high as halfway up the second floor of an average building.

Even before landfall, the city looked “almost apocalyptic,” resident Michael Bobbitt said early Wednesday. Hours later, the disastrous storm surge had overwhelmed it.

“We’re effectively cut off from the world now,” Bobbit said. “It’s going to get a lot worse, and I’m really fearful for what we’re going to find in some of the low-lying areas and some of our older, more infirm citizens today.”

Do not try to “‘ride’ this one out,” police had told residents in the Big Bend city of Perry, warning storm surge higher than 15 feet is “not survivable if you are caught in it.” Storm surge accounts for about half of all hurricane-related deaths, the National Oceanic and Atmospheric Administration said.

A rare extreme wind warning – issued in cases of life-threatening sustained winds of 115 mph or more – was issued for parts of the Big Bend region, including Dixie and Taylor counties: “Treat these imminent extreme winds as if a tornado was approaching and move immediately to the safe room in your shelter,” the National Weather Service office in Tallahassee warned. “Take action now to protect your life!”

A tornado watch is in place for nearly 12 million people across central and northern Florida and southeast Georgia until 3 p.m. Wednesday as conditions continue to deteriorate, with coastal streets and lots flooding in places including Tampa, St. Petersburg and Fort Myers Beach as ocean water pushes ashore, rain pours down and winds whip.

And destruction is possible far behind Idalia’s forecast cone, Florida Gov. Ron DeSantis said Wednesday morning. At least 11 tornado warnings already had been issued, with more possible – even in places “way outside the cone that you see on your TV screens,” he said.

 

***Note: FEMA has approved an Emergency Management Declaration for Tropical Storm Idalia, but has not issued a Major Disaster Declaration at this time.   We will update you as more information becomes available.***

To order an inspection, please log-in to your SafeView Access account.

 

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

Zombie Foreclosures Hold Steady During Third Quarter

Industry Update
August 24, 2023

Source: ATTOM

ATTOM, a leading curator of land, property, and real estate data, today released its third-quarter 2023 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,277,612) residential properties in the United States are vacant. That figure represents 1.3 percent, or one in 79 homes, across the nation – the same as in the second quarter of this year.

The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology below). Vacancy data is available for U.S. residential properties at https://www.attomdata.com/solutions/marketing-lists/.

The report also reveals that 315,425 residential properties in the U.S. are in the process of foreclosure in the third quarter of this year, up 1.3 percent from the second quarter of 2023 and up 16.6 percent from the third quarter of 2022. A growing number of homeowners have faced possible foreclosure since a nationwide moratorium on lenders pursuing delinquent homeowners, imposed after the Coronavirus pandemic hit in early 2020, was lifted in the middle of 2021.

Among those pre-foreclosure properties, about 8,800 sit vacant as zombie foreclosures (pre-foreclosure properties abandoned by owners) in the third quarter of 2023. That figure is up slightly from the prior quarter, by 0.3 percent, and up 13.9 percent from a year ago.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Default Servicing Industry Leaders Expect Slight Increase in Foreclosure Volume and Falling Home Prices to End 2023

Industry Update
August 25, 2023

Source: Think Realty

Auction.com, the nation’s leading distressed real estate marketplace, today released its 2023 Seller Insights report, which shows that 92 percent of default servicing industry leaders expect completed foreclosure auction volume to increase in 2023 compared to 2022 while 85 percent expect home prices to decline in 2023 compared to 2022.

The report is based on a June 2023 survey of more than 50 leaders in the default mortgage servicing industry at the Auction.com Disposition Summit in Dallas. Survey respondents included default servicing leaders from mortgage asset investors, bank servicers, nonbank servicers, government agencies and government-sponsored enterprises.

Economic conditions will have the biggest impact on foreclosure volumes for the remainder of 2023, according to survey respondents. Respondents also expect roll rates from delinquency to foreclosure to continue to rebound back closer to pre-pandemic levels for the remainder of 2023. Those roll rates dropped to historically low levels during the pandemic with its emergency foreclosure prevention efforts.

Nearly half (46 percent) of seriously delinquent loans insured by the Federal Housing Administration (FHA) have enough partial claim capacity to fund the Payment Supplement Account (PSA) that has been proposed by the U.S. Department of Housing and Urban Development (HUD), survey respondents estimated based on their organization’s portfolio composition.

Survey respondents said they were 32 percent confident on average that their organization could implement the PSA program within the 180-day window suggested in the HUD proposal.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Share of Mortgage Loans in Forbearance Decreases to .39% in July

Industry Update
August 21, 2023

Source: Mortgage Bankers Association (MBA)

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 5 basis points from 0.44% of servicers’ portfolio volume in the prior month to 0.39% as of July 31, 2023. According to MBA’s estimate, 195,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 7.9 million borrowers since March 2020.

In July 2023, the share of Fannie Mae and Freddie Mac loans in forbearance decreased 1 basis point to 0.20%. Ginnie Mae loans in forbearance decreased 13 basis points to 0.80%, and the forbearance share for portfolio loans and private-label securities (PLS) decreased 7 basis points to 0.45%.

“The prevalence of forbearance plans has dramatically dropped since 2020, and the reasons that borrowers are in forbearance are changing,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “About two-thirds of borrowers are still in forbearance because of the effects of COVID-19, but a growing share of borrowers are in forbearance for other reasons that cause temporary hardship such as financial distress or natural disasters. With the COVID-19 national emergency lifted, Fannie Mae and Freddie Mac recently announced the retirement of certain COVID-19 flexibilities relating to forbearance plans and workouts.[1]”

Added Walsh, “Given the recent natural disasters impacting California, Washington, and Hawaii, forbearance is one way for mortgage servicers to mitigate the potential impacts on homeowners.”

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Black Knight: Mortgage Delinquency Rate Increased Slightly in July

Industry Update
August 23, 2023

Source: Calculated Risk

According to Black Knight’s First Look report, the percent of loans delinquent increased 2.9% in July compared to June and decreased 3.6% year-over-year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.21% in July, up from 3.12% the previous month.

The percent of loans in the foreclosure process decreased slightly in July to 0.42%, from 0.42% the previous month.

The number of delinquent properties, but not in foreclosure, is down 39,000 properties year-over-year, and the number of properties in the foreclosure process is down 4,000 properties year-over-year.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Fire Management Assistance Declaration – Louisiana Providence Fire

FEMA Alert
August 25, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Louisiana to supplement state, tribal and local response efforts in areas affected by the Providence Fire beginning August 25, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Vernon (Parish)

 

Louisiana Providence Fire (FM-5484-LA)

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 – Louisiana Lions Camp Road Fire

FEMA Alert
August 27, 2023

FEMA has issued a Fire Management Assistance Declaration for the state of Louisiana to supplement state, tribal and local response efforts in areas affected by the Lions Camp Road Fire beginning August 26, 2023 and continuing.  The following areas have been approved for assistance:

Public Assistance:

  • Vernon (Parish)

 

Louisiana Lions Camp Road Fire (FM-5485-LA)

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

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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