Mt. Sterling Working to Tear Down Deteriorated Homes

Industry Update
March 14, 2023

Source: www.wave3.com

A program in Mt. Sterling is geared toward tearing down deteriorated homes.

With the help of some initial grant funding to get the program going in 2019, the city is off to a strong start in gradually demolishing problem properties that have been thorns in the sides of first responders and city leaders.

About 18 homes have come down at the hands of the city, and another seven have been bought and rehabbed or knocked down by the owner voluntarily.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

New Tool to Address Vacant Homes Will Create Baltimore City Land Bank

Industry Update
March 10, 2023

Source: www.wmar2news.com

There are thousands of vacant homes around Baltimore. They’re not only eye-sores in neighborhoods, but they can also be a danger and hubs for crime.

Friday morning, two Baltimore City councilors will introduce another tool that could help bring that number down even further.

Councilwoman Ramos will introduce legislation to expedite the process of eliminating vacant homes, by using Baltimore’s Land Bank Authority.

It is another tool to expedite the acquisition and disposition of vacant and abandoned properties. People say it’s been a long time coming as the city has tried to address the vacant home problem for years.

The city’s effort included a new artificial intelligence program looking at images of the city to find properties with roof damage.

The AI detection tool has resulted in 23 emergency demolitions in the last two months.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Emergency Declaration – California Severe Winter Storms, Flooding, Landslides and Mudslides

FEMA Alert
March 10, 2023

***UPDATED 3/20/23***

FEMA has issued an Emergency Declaration for the state of California to supplement state, tribal, and local response efforts due to emergency conditions resulting from severe winter storms, flooding, landslides and mudslides beginning March 9, 2023 and continuing.  The following areas has been approved for assistance:

Public Assistance:

  • Alpine
  • Amador
  • Butte
  • Calaveras
  • Del Norte
  • El Dorado
  • Fresno
  • Glenn
  • Humboldt
  • Imperial
  • Inyo
  • Kern
  • Kings
  • Lake
  • Los Angeles
  • Madera
  • Mariposa
  • Mendocino
  • Merced
  • Mono
  • Monterey
  • Napa
  • Nevada
  • Orange
  • Placer
  • Plumas
  • Sacramento
  • San Benito
  • San Bernardino
  • San Francisco
  • San Joaquin
  • San Luis Obispo
  • San Mateo
  • Santa Barbara
  • Santa Clara
  • Santa Cruz
  • Sierra
  • Sonoma
  • Stanislaus
  • Trinity
  • Tulare
  • Tuolumne
  • Yuba

 

California Severe Winter Storms, Flooding, Landslides, and Mudslides (EM-3592-CA)

President Joseph R. Biden, Jr. Approves Emergency Declaration for California

Map of Affected Area

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

Abandoned House Called ‘Big Eyesore’ Demolished Under Dekalb Co. Blight Program

Industry Update
March 7, 2023

Source: www.wsbtv.com

Drugs, homeless people, health hazards, and crime.

Residents living on Whitehall Forest Court in DeKalb County say they’ve seen it all at a house that was abandoned after a deadly fire in Aug. 2021.

Anthony Moore has lived in the neighborhood for years and told Channel 2′s Sophia Choi, “It needs to be destroyed.”

Neighbor Stacey Dawson agreed saying, “Yes, tear it down and get this neighborhood together.”

The house is now gone.

DeKalb County crews tore it down Tuesday as part of its blight program.

It’s one of 600 houses in five years that the county has demolished or abated.

CEO Michael Thurmond started the program and made it a priority.

Thurmond told Choi, “Everyone that we can take down or abate this is what will happen. But, I’m just going to tell you this is going to continue far beyond my administration. The program is in place, the financing is in place, the talent is in place and more importantly, the political wheel is in place.”

Choi went back to a neighborhood that benefitted from the blight program with a house torn down last July.

Neighbors on Stanton Street say it’s made a big difference.

“Before it was taken down, people were just hanging out there doing who knows what,” Kyle Proctor said.

Tim Heffner added to that saying, “That’s the big thing, you know, safety at night. But it’s also just fixing the big eyesore down the street. So there’s a lot less mosquitos out, the smell is gone.”

Those are all benefits that neighbors on Whitehall Forest Court are now hoping to see in their community.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Land Bank Sales Point a Way Toward Neighborhood Revitalization

Industry Update
March 7, 2023

Source: www.lockportjournal.com

The sale of two vacant residential properties by the Niagara-Orleans land bank to a developer is seen as a step forward in revitalizing two city neighborhoods.

The properties at 530 18th St. and 231 70th St. were both abandoned homes seized by the City of Niagara Falls. They were transferred to Niagara Orleans Regional Land Improvement Corp. (NORLIC) ownership in October, after which the land bank undertook trash removal and readied them for sale.

The properties were officially listed earlier this year and were purchased by Buffalo-based Blue Eagle Realty and its partner Creation Properties. Matt Chavez, NORLIC’s project manager, said Blue Eagle purchased the 70th Street property for $6,000 and the 18th Street property for $12,000 and the company has committed to investing $50,000 and $89,000 to make them habitable. Each house will be sold to a family that wants to live in it; they will not be rental properties.

Niagara County Legislator Chris Voccio, who is a NORLIC board member, said the sale of those properties is a blueprint for a path forward in revitalizing neighborhoods.

“NORLIC has the ability and authority to meet with those who have an interest in any of these properties to review their plans and get commitments on timetables and so on,” Voccio said. “In that way, we can avoid those who want to speculate on property rather than make investments in our neighborhoods. This may be only two properties, but this is the blueprint for how you begin to revitalize neighborhoods plagued by the blight of abandoned properties.”

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Senators Introduce ‘Neighborhood Homes Investment Act’ to Expand Affordable Homeownership Opportunities and Revitalize Communities

Industry Update
March 7, 2023

Source: www.prnewswire.com

Senators Ben Cardin (D-MD) and Todd Young (R-IN) introduced legislation to create a new tax incentive that would produce 500,000 starter homes in under-resourced communities over the next decade. The Neighborhood Homes Investment Act (“Neighborhood Homes”) would address the needs of families throughout the country who are struggling to purchase homes as costs continue to rise and the supply of homes remains limited.

In many areas, the cost to build or rehab a home exceeds the price at which the home could be sold once completed. The new tax credit would help fill that “value gap” – up to 35 percent of eligible development costs for new homes – thus reducing the developer’s risk of loss and encouraging investments in new and rehabbed housing. This will in turn make homeownership more feasible and support broader revitalization and economic development strategies in disinvested urban and rural communities.

Joining Senators Cardin and Young as original co-sponsors of the legislation were Senators Ron Wyden (D-OR), Jerry Moran (R-KS) and Sherrod Brown (D-OH). Similar legislation introduced in the previous session of Congress was co-sponsored by 133 Members of the House and Senate from 37 different states, from Delaware to North Dakota to California.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

FEMA Major Disaster Declaration – Tennessee Severe Winter Storm

FEMA Alert
March 8, 2023

FEMA has issued a Major Disaster Declaration for the state of Tennessee to supplement state, tribal and local recovery efforts in areas affected by a severe winter storm from December 22-27, 2022.  The following areas have been approved for assistance:

Public Assistance:

  • Cocke
  • Coffee
  • Davidson
  • Greene
  • Henderson
  • Knox
  • Maury
  • Perry
  • Putnam
  • Shelby
  • Washington

 

Tennessee Severe Winter Storm (DR-4691-TN)

President Joseph R. Biden, Jr. Approves Disaster Declaration for Tennessee

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 Major Disaster Declaration – Bear River Band of the Rohnerville Rancheria Earthquake

FEMA Alert
March 8, 2023

FEMA has issued a Major Disaster Declaration for the Bear River Band of the Rohnerville Rancheria in California to supplement tribal recovery efforts in areas affected by earthquakes from December 20, 2022 – January 1, 2023.  The following areas have been approved for assistance:

Public Assistance:

  • Rohnerville Rancheria (Indian Reservation)

 

Bear River Band of the Rohnerville Rancheria Earthquake (DR-4692)

President Joseph R. Biden, Jr. Approves Disaster Declaration for the Bear River Band of the Rohnerville Rancheria

Map of Affected Areas

List of Affected Zip Codes

Please note:  Only properties located in the Bear River Band of the Rohnerville Rancheria are approved for assistance under declaration DR-4692.

 

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 Serious Delinquency Rate Unchanged in January; Fannie Mae Decreased Slightly

Industry Update
February 27, 2023

Source:  www.calculatedriskblog.com

Freddie Mac reported that the Single-Family serious delinquency rate in January was 0.66%, unchanged from 0.66% December. Freddie’s rate is down year-over-year from 1.06% in January 2022.

Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.

Fannie Mae reported that the Single-Family Serious Delinquency decreased to 0.64% in January from 0.65% in December. The serious delinquency rate is down from 1.17% in January 2022.  This is at the pre-pandemic lows.

The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Fannie Mae Announces SVC-2023-01 Servicing Guide Update

Industry Update
March 8, 2023

Source:  Fannie Mae Single Family

The March Servicing Guide update includes changes to pre-foreclosure property preservation requirements – specially, updates to property inspections and preservation expense reimbursement limits and guidance; and miscellaneous updates.

For full report, please click the source link above.

 Servicing Guide Announcement (SVC-2023-01) 

 

 

 

 

 

 

 

 

 

 

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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