Safeguard Properties

Archives For: forbearance

Black Knight: Number of Mortgages in Forbearance Declines

Forbearance plan exit volumes increased week-over-week heading into November as the share of mortgage loans in forbearance fell below 2% for the first time since the early stages of the pandemic.

12 Nov 2021

CFPB to Closely Scrutinize How Mortgage Servicers Handle Borrowers Exiting Forbearance

As the COVID-19 related foreclosure moratoriums wind to a close and mortgage servicers brace for a potential wave of defaults, the Consumer Financial Protection Bureau (CFPB) has announced that it will be fully enforcing the foreclosure protections put in place in the wake of the Great Recession of 2008.

11 Nov 2021

MBA: Forbearance Hits Lowest Level Yet

The share of Fannie Mae and Freddie Mac loans in forbearance has reached the lowest level since the start of the pandemic, according to the Mortgage Bankers Association, but an increase in the number of borrowers exiting forbearance into loan modifications points to ongoing struggles in the recovery from the pandemic.

9 Nov 2021

Homeowners Leaving Forbearance Now More Likely to Need Help

More than half a million homeowners who put their loans in forbearance during the pandemic are now in active loss mitigation, a 37 percent jump from a month ago, as relief programs that allowed millions of borrowers to put their payments on hold for up to 18 months expire.

2 Nov 2021

Fannie and Freddie Loans in Forbearance Drop Below 1%

The total number of loans now in forbearance decreased by 6 basis points to 2.15% of servicers’ portfolio volume as of Oct. 24, 2021. 

2 Nov 2021

Delinquencies Continue to Decline but Forbearances Still a Concern

The national delinquency rate has fallen below 4.0 percent for the first time since COVID-19 started messing up the world.

22 Oct 2021

Illinois, New Jersey and Delaware have Most Markets at Elevated Risk from Pandemic Fallout

ATTOM report shows that New Jersey, Illinois and Delaware had the highest concentrations of the most at-risk markets in the third quarter – with the biggest clusters in the New York City and Chicago areas – while the West remained far less exposed.

21 Oct 2021

Foreclosures See Hard Spike as Federal Protections End

As expected, the end of federal protections in September has coincided with a significant uptick in foreclosures, as default notices, scheduled auctions or bank repossessions spiked 34% in Q3 of this year according to a new report from ATTOM Data Solutions®, potentially foreshadowing a difficult winter for homeowners still struggling through the pandemic.

20 Oct 2021

MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 2.28%”

The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 34 basis points from 2.62% of servicers’ portfolio volume in the prior week to 2.28% as of October 10, 2021.

18 Oct 2021

Opinion: Forbearance Will Not Lead to a Huge Wave of Foreclosures

Most homeowners in forbearance have sufficient equity in their homes, and there will not be a huge wave of foreclosures like following the housing bubble.

8 Sep 2021

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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