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Proposed New York Legislation Targets Foreclosure Policy

Legislation Update
June 1, 2016

A.4842

  • Title: Requires plaintiffs in mortgage foreclosure actions to provide contact information
  • Last Action: Amended on third reading on 6/1/16.
  • Sample Text: Section 1. Section 1307 of the real property actions and proceedings law is amended by adding a new subdivision 9 to read as follows:
    A mortgage foreclosure plaintiff with a duty to maintain foreclosed property shall provide the contact information of the employee or agent of the plaintiff responsible for maintenance of the foreclosed property. Such contact information shall include, but not be limited to, a direct telephone number and the name of the employee or agent of the plaintiff responsible for maintenance of the foreclosed property. Such contact information shall be provided to the municipality in which  the  foreclosed property is located through written notice to the chief financial officer of the municipality and shall be posted on any vacant dwelling or any dwelling that becomes vacant after the issuance of the judgment of foreclosure and sale.

A.8559

  • Title: Relates to providing notice to a homeowner whose property is being foreclosed that they do not have to abandon the property until the day of the foreclosure sale
  • Last Action: Referred to judiciary on 1/6/16.
  • Sample Text: Section 1. Subdivision 3 of section 1303 of the real property actions and proceedings law, as amended by chapter 507 of the laws of 2009 and as further amended by section 104 of part A of chapter 62 of the laws of 2011, is amended to read as follows:
    The notice to any mortgagor required by paragraph (a) of subdivision one of this section shall appear as follows:
    Help for Homeowners in Foreclosure
    New  York  State  Law  requires that we send you this notice about the foreclosure process. Please read it carefully.
    Summons and Complaint
    You are in danger of losing your home. If you fail to respond to the summons and complaint in this foreclosure action, you may lose your home. Please note: You have the right to remain in your home until you receive a court order telling you to leave the property. This is not an eviction notice and you still have the right to remain in the home until a court orders you to leave. You legally remain the owner of and are responsible for the property until the property is sold by you or by order  of the court at the conclusion of this foreclosure action. If you live in the property you have a right to a settlement conference in court at which you can try to negotiate a loan modification that will permit you to keep your home.

Source: New York State Assembly

Additional Resources:
A.4842 (full text)

A.8559 (full text)

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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