Safeguard Featured in Mortgage Banking Magazine
Safeguard Properties contributed a feature article in the February 2012 Mortgage Banking Magazine entitled Vendor-Management Best Practices.
U.S. Census Bureau date released in October 2011 show that between 2000 and 2010, vacant propertied nationally increased 43.8 percent. The number climbed from 10.5 million to 15 million. Many industry experts believe those numbers won’t change much in the foreseeable future. Craig Nickerson, president of the National Community Stabilization Trust, Washington, D.C., speaking at the Five Star MPact Conference in Dallas in December, estimated that 850,000 foreclosures occurred in 2011. He predicted that 1.5 million foreclosures will occur in 2013, and foresees a return to 2011 levels by 2015. As foreclosure rates continue to rise, recruiting and retaining the highest-quality vendors and contractors to protect high volumes of vacant and abandoned properties must be one of the highest priorities for field service companies. Field service companies hire vendors to inspect, maintain and repair properties on behalf of mortgage servicers and investors. Vendors perform such services as securing properties, maintaining landscaping, winterizing plumbing, removing debris, remediating roof damage, cleaning, painting and providing various levels of repairs. As the field service industry advances, so must vendor-management best practices to ensure vendors have the training, tools and resources to perform their jobs effectively. Like other national companies, Safeguard Properties maintains a large network of vendors across the country- close to 10,000. On a monthly basis, the company utilizes these vendors to inspect and maintain more than 1 million properties. Effectively managing a large vendor network to service historically high property volumes requires a significant commitment to train and recruit qualified vendors, ensure quality, promote diversity and invest in technology to support field operations.
To view the article in its entirety, please click here.
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 900 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.