Safeguard Properties

<- Return To Featured Resources

Senate Banking Committee Chairman Holds Federal Housing Finance Agency Hearing

On November 19, the U.S. Committee on Banking published a news release featuring Chairman Tim Johnson’s prepared statement at The Federal Housing Finance Agency: Balancing Stability, Growth, and Affordability in the Mortgage Market oversight hearing.

JOHNSON HOLDS FHFA OVERSIGHT HEARING

WASHINGTON – Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a Federal Housing Finance Agency (FHFA) hearing titled “The Federal Housing Finance Agency: Balancing Stability, Growth, and Affordability in the Mortgage Market.”
 
Below is Chairman Johnson’s statement as prepared for delivery:
 
“I call this hearing to order.  Welcome back to the Committee, Director Watt.  Since this is likely my last hearing regarding the GSEs, I would like to urge my colleagues to continue our hard work to move past the housing crisis.  Over the past few years, we and our staffs have spent countless hours wrestling with possible solutions and pitfalls.  Some options are not practical while others are too ideological, but we still need to find a solution.  
 
“The Enterprises remain trapped in conservatorship today.  FHFA continues to perform the dual role of both regulating and running the businesses of the largest entities in the mortgage market.  This is not sustainable, and there is no consensus in Congress regarding how to move forward.
 
“All the while the credit box remains extremely narrow, locking out many potential borrowers with good credit, including first-time homebuyers who are needed to expand and sustain our recovery.  While I oppose returning to exotic products with confusing terms, we need to find a way to bring the pendulum back to rational underwriting.  Unfortunately, the tight credit conditions will remain a challenge while the future structure of the mortgage market is uncertain. 
 
“FHFA, under Director Watt’s guidance, is taking steps to provide more certainty to the market and expand access for borrowers.  These initiatives include expanding the loan-to-value requirements from 95 LTV to 97 LTV, updating reps-and-warrants frameworks, and developing Neighborhood Stabilization Initiative pilot programs in Detroit and Chicago.
 
“I applaud Director Watt and his team at FHFA for taking steps to stabilize the Enterprises and the housing market.  Focusing the common securitization platform on the Enterprises, exploring a single security to increase liquidity, and developing stronger counterparty oversight are all efforts that will help stabilize the market for the future.  However, there is only so much that can be accomplished while the Enterprises are in limbo. 
 
“Everyone agrees that conservatorship cannot continue forever, so I hope my colleagues will keep working towards a more certain future for the housing market.  However, if Congress cannot agree on a smooth, more certain path forward, I urge you, Director Watt, to engage the Treasury Department in talks to end the conservatorship. 
 
“Before I finish, I want to thank my colleagues on this Committee, as well as their staffs and my staff, for all their hard work on housing finance reform.  I especially want to thank Ranking Member Crapo and his staff for their faithful partnership.”

Please click here to view the news release online.

About Safeguard 
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally.
Website: www.safeguardproperties.com.

Related Posts

HUD Allocates More than $2 Billion to Advance Equitable Disaster Recovery, Build Climate Change Resilience

The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery and CDBG-Mitigation funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act, signed into law on September 30, 2021.

Read More

HUD Employees Receive Management Excellence Award

A group of U.S. Department of Housing and Urban Development employees on Thursday were awarded the 2021 Samuel J. Heyman Service to America Medals.

Read More

<- Back To Newsroom Next Article ->

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing our website, you agree to our use of cookies.

x

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.

x

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.

x

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.

x

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.

x

Business Development

Carrie Tackett

Business Development Safeguard Properties