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Senate Votes to Extend Foreclosure Safeguard for Servicemembers

Industry Update
December 11, 2015

The U.S. Senate on Thursday night voted unanimously to pass legislation extending a provision of the Servicemembers Civil Relief Act (SCRA) that protects active duty servicemembers from losing their homes.

The bill, introduced by Sen. Sheldon Whitehouse (D-Rhode Island), extends through 2017 the provision of the SCRA that safeguards active duty servicemembers against foreclosure for one year following the completion of their service in the field as they transition to civilian life.

“Some of the men and women who’ve served our country need time to find their financial footing as they leave active service. They should get it,” Whitehouse said. “Our servicemembers keep us safe from all manner of threats around the globe. It’s the least we can do to keep them and their families safe from foreclosure as they transition back to civilian life. I’ll keep fighting to make these protections permanent, but I’m pleased we’ve reached a unanimous, bipartisan agreement on a two-year extension.”

Whitehouse has fought for years to protect the rights of servicemembers who are homeowners. The Commission on the National Guard and Reserves submitted a report in 2008 that prompted Congress to extend foreclosure protection from 90 days to nine months under the SCRA later that year. The period was extended further to one year in 2012 as part of a bill introduced by Whitehouse.

Another bill introduced by Whitehouse in May 2014 extended the one-year grace period until January 1, 2016. That bill passed unanimously in both the House and the Senate and was signed into law by President Obama in December 2014. In April 2015, Whitehouse introduced a bill that would make foreclosure protection for active servicemembers permanent.

The current one-year safeguard is set to expire at the end of 2015, at which time the grace period will revert to its original 90 days.

“America’s servicemembers and their families make enough sacrifices for our country. Their homes should not be one of those sacrifices,” said Sen. Sherrod Brown (D-Ohio), Ranking Member of the Senate Banking Committee and co-sponsor of the bill. “This bill will help ensure that America’s servicemembers don’t face the threat of eviction or foreclosure when they return from active duty.”

Source: DS News

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