FEMA Alert
August 6, 2025
FEMA has issued a Fire Management Assistance Declaration for the state of Colorado to supplement state, tribal and local recovery efforts in areas affected by the Lee Fire on August 2, 2025. The following counties have been approved for assistance:
Public Assistance:
Colorado Lee Fire (FM-5603-CO)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
Industry Update
July 31, 2025
Source: Yahoo! Finance
Climate change could be responsible for a 380% increase in foreclosures by 2035, according to research firm First Street’s most recent National Risk Assessment.
The assessment also predicts the economic impact of these foreclosures on lenders, and the potential losses could be staggering. First Street’s analysis expects mortgage lenders to lose $1.2 billion in natural disaster-related foreclosures in 2025. That figure is expected to go as high as $5.4 billion by 2035. Losses that big could change how mortgage lenders calculate risk.
Currently, most mortgage lenders consider the borrower’s income, credit history, and debt load as the biggest potential risks in processing loan applications. First Street believes lenders may be forced to consider how extreme weather events could elevate their risk level when making underwriting decisions. Most banks don’t consider the possibility of climate-change-driven foreclosure risk in making loan decisions. First Street assessment suggests they should.
For full report, please click the source link above.
Industry Update
July 31, 2025
Source: Consumer Affairs
In a significant victory for Veteran homeowners and their families, the VA Home Loan Program Reform Act was enacted into law Wednesday, July 30. The new law provides a path for Veteran homeowners who have fallen behind on mortgage payments to get current on payments and avoid foreclosure. The new “partial claim” bill helps fill the gap in assistance created by the abrupt cancellation of the Veterans Affairs Servicing Purchase (VASP) in May, which created confusion and anxiety and put struggling Veteran borrowers at risk of foreclosure.
“We applaud Congress for passing the partial claim bill. It is an important first step toward giving Veterans the help they need and deserve when they face financial hardship and possible loss of their homes,” said Steve Sharpe, senior attorney at the National Consumer Law Center. “The VA now must streamline the new program to promote broad and timely access. We also call on Congress to work on further improvements to VA’s foreclosure prevention toolbox.”
The bill allows delinquent borrowers with Department of Veterans Affairs loans to put a past due balance at the end of the loan. This approach, known as the “partial claim,” is similar to one offered by the VA from 2021-2022 and by the Federal Housing Administration. A partial claim allows the Veteran to bring their loan current and resume their former payment. The borrower repays the deferred amount to the VA at 0% interest when the loan pays off.
“Meaningful payment assistance”
“Passage of the partial claim bill will provide meaningful payment assistance to VA borrowers in financial distress,” said Mike Calhoun, president of the Center for Responsible Lending. “We encourage Congress to give VA additional financial hardship tools offered by other federally backed mortgage programs to help Veterans avoid unnecessary foreclosures and remain in their homes.”
Even with enactment of the partial claim bill, Veteran borrowers still have substantially worse options than other borrowers with federally-backed mortgage loans. To bring the relief for VA-borrowers on par with the relief for other borrowers, Congress must further improve the partial claim program and must develop an option for borrowers who need monthly payment relief when they fall behind on their mortgages. In addition, the VA must act quickly to implement the new law to avoid unnecessary foreclosures of borrowers who may be eligible for partial claims.
As of April 1, there were 75,000 Veteran borrowers who had missed 3 or more payments on their VA-guaranteed mortgage.
For full report, please click the source link above.
Industry Update
August 5, 2025
Source: National Mortgage Professional
The U.S. Senate has received two high-profile Trump Administration housing nominations: Joseph M. Gormley for President of Ginnie Mae and Frank Cassidy for Commissioner of the Federal Housing Administration (FHA).
Since April 2025, Gormley has been serving as executive vice president and chief operating officer of Ginnie Mae, a government-owned corporation within the U.S. Department of Housing and Urban Development (HUD) that guarantees mortgage-backed securities (MBS) backed by government-insured or guaranteed loans. He brings deep institutional knowledge from prior HUD and industry roles.
Gormley’s nomination was referred to the Senate Committee on Banking, Housing, and Urban Affairs. If confirmed, Gormley would be the first permanent Ginnie Mae president since May 2024, when Alanna McCargo stepped down.
Also since April 2025, Cassidy has been serving as HUD’s Principal Deputy Assistant Secretary. He has extensive real estate finance experience spanning major advisory firms, with a focus on FHA-insured multifamily lending.
Part of HUD, FHA insures mortgages to reduce lender risk and encourage homeownership — particularly for first-time, low-, and moderate-income buyers. FHA-insured loans are frequently securitized into Ginnie Mae-backed MBS.
‘Overwhelming’ And ‘Enthusiastic’ Support
Both nominations were backed by the Mortgage Bankers Association (MBA), which praised the nominees’ experience in housing finance and policy.
“Joe Gormley is an outstanding choice to serve as the next Ginnie Mae President,” stated MBA President and CEO Bob Broeksmit, CMB. “MBA overwhelmingly supports his nomination and believes his deep experience in housing finance policy, including in senior roles at Ginnie Mae, the Department of Housing and Urban Development, and MBA, make him well-qualified to lead the agency’s mission of ensuring mortgage market liquidity, sustainability, and affordability.”
Broeksmit also said MBA “enthusiastically supports” the Trump Administration’s nomination of Cassidy to serve as Assistant Secretary of Housing and FHA Commissioner.
“[Cassidy’s] extensive experience in real estate finance at Walker & Dunlop, Newmark, and Oppenheimer & Co. Inc. provides him with compelling insights on how to make FHA’s single-family and multifamily programs less costly and more innovative and competitive,” Broeksmit noted.
Broeksmit added that MBA would work with both Ginnie Mae and FHA to promote affordable homeownership and rental housing as well as other initiatives.
For full report, please click the source link above.
Industry Update
August 5, 2025
Source: Reuters
A federal judge blocked the Trump administration on Tuesday from diverting more than $4 billion from a grant program designed to protect communities against natural disasters.
U.S. District Judge Richard Stearns in Boston issued a preliminary injunction preventing the government from spending money allocated to the Building Resilient Infrastructure and Communities program for other purposes.
Twenty mostly Democratic-led states led by Massachusetts and Washington sued the administration last month, saying the Federal Emergency Management Agency lacked power to cancel the BRIC program without congressional approval.
FEMA is part of the Department of Homeland Security. Neither agency immediately responded to requests for comment.
Andrea Joy Campbell, Massachusetts’ attorney general, said her office will keep fighting to stop the federal government from “effectively abandoning state and local communities that rely on federal funding to protect their residents.”
Created in 2018 during Republican President Donald Trump’s first term, the BRIC program helps state and local governments protect major infrastructure such as roads and bridges before the occurrence of floods, hurricanes and other disasters.
According to the lawsuit, FEMA approved about $4.5 billion in grants for nearly 2,000 projects, primarily in coastal states, over the last four years.
But the agency announced in April it would end the program, calling it wasteful, ineffective and politicized.
Stearns said that while FEMA does not appear to have since canceled grants, states shouldn’t have to wait to sue until after they lose funding, while the cancellation of new grants suggested FEMA considered an eventual shutdown a fait accompli.
He also said the states have shown a realistic chance of irreparable harm if the BRIC program ended.
“There is an inherent public interest in ensuring that the government follows the law, and the potential hardship accruing to the states from the funds being repurposed is great,” the judge wrote.
“The BRIC program is designed to protect against natural disasters and save lives,” Stearns added. “The potential hardship to the government, in contrast, is minimal.”
Other states that joined the lawsuit include Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Michigan, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, Vermont and Wisconsin.
For full report, please click the source link above.
FEMA Alert
August 2, 2025
FEMA has issued a Fire Management Assistance Declaration for the state of Nevada to supplement state, tribal and local recovery efforts in areas affected by the Peavine Fire on August 2, 2025. The following counties have been approved for assistance:
Public Assistance:
Nevada Peavine Fire (FM-5602-NV)
Additional Resources
FEMA’s web site
FEMA’s Disaster Declaration Process
Safeguard Properties Industry Alerts
VA’s Policy Regarding Natural Disasters
One Community Update
July 25, 2025
Source: www.citizenportal.ai
Crafton Borough is taking significant steps to combat blight and improve community housing through a partnership with the Tricog Land Bank. During the council meeting on July 24, 2025, Anne Lewis, the director of the Tricog Land Bank, presented a comprehensive strategy aimed at addressing the challenges posed by vacant and abandoned properties in the region.
The Tricog Land Bank, established to tackle the issue of blighted properties, has identified that a substantial portion of residents—25% countywide—live within 150 feet of a blighted property. This situation not only affects the aesthetic appeal of neighborhoods but also has a direct financial impact on property owners, with potential value losses ranging from 15% to as much as 33% in communities like Crafton.
Lewis explained that the Land Bank operates as a legal tool that works in conjunction with local code enforcement and other initiatives. It has the authority to take ownership of abandoned properties, clear titles, and ensure they are insurable, making them more attractive to potential buyers. The organization has successfully managed a pipeline of 241 properties, selling 95 and preparing 11 more for closing.
A key aspect of the Land Bank’s approach is its commitment to vetting buyers, ensuring they have the financial means and capability to renovate properties. This includes a unique program that allows for a 90-day bidding period where owner-occupants and responsible developers can compete for properties, promoting homeownership and community investment.
Additionally, the Land Bank has introduced a “Reno Lite” program, which focuses on properties that require minimal renovations to make them habitable. This initiative aims to provide naturally affordable housing options for residents, allowing them to build equity in their homes.
The meeting underscored the importance of these strategies in revitalizing Crafton and surrounding areas, with the Land Bank poised to play a crucial role in transforming blighted properties into valuable community assets. As the borough moves forward, the collaboration with the Tricog Land Bank is expected to yield positive outcomes for residents, enhancing neighborhood stability and property values.
For full report, please click the source link above.
One Community Update
July 25, 2025
Source: www.wkbw.com
Housing problems in the City of Buffalo are nothing new, but could one issue be used as a solution for another?
There’s an idea floating around city government to repair a surplus of foreclosed-upon homes and sell them back to Buffalo residents at an affordable price.
The initiative aims to provide home-ownership opportunities for low-income families, while rebuilding neighborhoods and returning properties to the tax rolls.
“You have big developers come in. They buy 30 houses and then they sell them back to people,” Everhart said.
She does not believe folks on Buffalo’s East Side can afford what those homes sell for.
The councilwoman sees this as an opportunity to address Buffalo’s housing crisis by utilizing the city’s inventory of foreclosed properties.
“There is a housing crisis. What can we do?” Everhart said. “City of Buffalo owns a whole lot of houses. Ding, ding, ding. Let’s figure out a way to rehab those houses and give them back to people who live in those neighborhoods.”
Councilman Rasheed Wyatt co-sponsored this resolution. He emphasized the importance of keeping home-ownership local.
“As we address the housing issues, we want more homeowners and we want those homeowners to live in those neighborhoods and not be displaced,” Wyatt said.
According to city data, the Masten District alone has nearly 4,700 single-family homes and about 3,500 doubles. When asked how many of these properties are currently foreclosed upon, Everhart acknowledged that the exact number is still being determined.
“Well, right now we don’t know that number,” Everhart said. “So that’s a conversation we’re having with the law department and the mayor’s office. But there’s a lot of them.”
The initiative also includes potential partnerships with organizations like Habitat for Humanity to help provide housing for low-income families.
“We try to get viable properties at a discounted rate because it has to be logical for us as well,” said DJ Manou from Habitat for Humanity in Buffalo. “If the city is trying to say, we know there’s a problem and we have a potential solution to cut into that…Yeah that’s great.”
Everhart believes this solution would also help build generational wealth for communities that often lack these assets.
“Imagine — a woman, a family, whoever buys a house — a double, for example, they can get that house fixed up. They can live in it, and they can rent out part of that house,” Everhart said. “They’re also making income. It’s not rocket science. It’s good government.”
There is a potential snag. The city’s own laws could stop this from moving forward.
Drantch: Is your resolution even legal?
Everhart: I don’t know. But that’s why we have a legal department here. So let’s figure it out. If it’s not legal, guess what, we’re legislators. That’s our job.
The next in-rem auction for tax-foreclosed homes in Buffalo is potentially scheduled for 2026.
For full report, please click the source link above.
One Community Update
July 9, 2025
Source: Battle Creek Enquirer
The Calhoun County Land Bank Authority has started construction on its first-ever new builds, according to an announcement.
The two single-family homes, at 82 and 126 Greenwood Ave. in Battle Creek, are a significant step in the Land Bank’s mission to revitalize vacant properties and offer affordable homeownership opportunities.
Each home will have two bedrooms and be available for purchase by qualified buyers earning at or below 60% of the Area Median Income.
“These homes represent more than bricks and mortar — they represent progress, partnership and long-term investment in Battle Creek neighborhoods,” Krista Trout-Edwards, executive director of the Calhoun County Land Bank Authority, said Tuesday, July 8.
The groundbreaking event was attended by members of the CCLBA Board of Directors, Calhoun County Board of Commissioners, state and local elected officials, community leaders and residents.
“This is a proud and exciting day,” said Lynn Ward Gray, chair of the Washington Heights Neighborhood Advisory Committee. “These new homes are the result of strategic planning and community-focused partnerships. They will not only fill vacant lots but provide families with affordable, high-quality places to call home.”
The homes will feature energy-efficient designs and modern layouts, with construction expected to be completed later this year. Once finished, they will be listed for income-qualified homebuyers, supporting the Land Bank’s broader goal of strengthening communities.
To learn more about the Calhoun County Land Bank Authority and its programs, go to calhounlandbank.org.
For full report, please click the source link above.
Industry Update
July 24, 2025
Source: Federal Housing Finance Agency
April 2025 Highlights – Foreclosure Prevention
The Enterprises’ Foreclosure Prevention Actions:
The Enterprises completed 19,474 foreclosure prevention actions in April 2025, bringing the total to 7,178,528 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.
There were 7,791 permanent loan modifications in April 2025, bringing the total to 2,772,657 since the conservatorships began in September 2008.
Approximately 45 percent of loan modifications in April involved extend term only. Modifications with principal forbearance accounted for 54 percent of all loan modifications during the month.
The number of borrowers who received payment deferrals after completing a forbearance plan decreased from 7,885 in March to 7,218 in April 2025.
Initiated forbearance plans decreased from 8,294 in March to 7,603 in April 2025. The total number of loans in forbearance also decreased from 40,939 at the end of March to 37,807 at the end of April 2025, representing approximately 0.12 percent of the total loans serviced and 7.4 percent of the total delinquent loans.
The Enterprises’ Mortgage Performance:
The 30-59-day delinquency rate increased to 0.91 percent while the serious delinquency rate decreased slightly to 0.56 percent at the end of April 2025.
The Enterprises’ Foreclosures:
Third-party and foreclosure sales fell 3 percent to 1,024 while foreclosure starts decreased 3 percent to 7,141 in April 2025.
April 2025 Highlights – Refinance Activities
Total refinance volume increased in April 2025, following a decline in mortgage rates in March from February levels. Mortgage rates increased in April: the average interest rate on a 30-year fixed rate mortgage increased to 6.73 percent in April from 6.65 percent in March.
Cash-out refinances as a percentage of refinances decreased from 65 percent in March to 56 percent in April 2025 after rising as high as 82 percent over the last three years. Lower mortgage rates have increased the opportunities for non-cash-out borrowers to refinance at lower rates and lower their monthly payments.
For full report, please click the source link above.
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.
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.
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.
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.
Business Development
Carrie Tackett
Business Development Safeguard Properties
