Archives For: Industry Update

Black Knight: Mortgage Delinquency Rate Increased Slightly in July

According to Black Knight’s First Look report for July 2023, the percent of delinquent loans increased slightly while the percent of loans in foreclosure decreased slightly.

23 Aug 2023

Share of Mortgage Loans in Forbearance Decreases to .39% in July

The MBA Loan Monitoring Survey revealed that the total number of loans in forbearance decreased to .39% of servicers’ portfolios as of July 31, 2023.

21 Aug 2023

Mortgage Delinquencies Decrease in the Second Quarter of 2023

MBA reports the mortgage delinquency rate fell to its lowest level since their survey began in 1979, to 3.37% in Q2 2023.

10 Aug 2023

U.S. Foreclosure Activity Dips in July 2023 While Lender Repossessions Continue to Climb

ATTOM has released the July 2023 U.S. Foreclosure Market Report showing foreclosure filings down 9% from a month ago.

10 Aug 2023

Fannie REO Inventory Decreased in Q2

Fannie Mae reported their REO (real estate owned) inventory has decreased at the end of the second quarter of 2023.

9 Aug 2023

Freddie Mac Servicing Guide – Industry Pricing Update

An increase in the reimbursement expense limits for certain expense codes for the preservation and maintenance of vacant properties has been updated for Freddie Mac.

9 Aug 2023

FHA Eyes Electronic Communication with Proposed Modernized Engagement for Defaulting Borrowers

FHA has announced a long-awaited proposal that could revolutionize how mortgage companies engage with borrowers in default.

1 Aug 2023

Top 10 U.S. States with Highest Shares of Underwater Mortgages in Foreclosure in Q2 2023

ATTOM took a deep dive into the data behind its Q2 2023 U.S. Home Equity & Underwater Report to uncover the states where the highest portion of homeowners faced possible foreclosure.

28 Jul 2023

Ginnie Mae Launches New Environmental, Social and Governance Composite and Webpage

Ginnie Mae announced the addition of a new Environmental, Social and Governance webpage with a focus on how their strategy impacts MBS program offers to investors.

28 Jul 2023

HUD Announces Research Grant Opportunity and Event Focused on Office-to-Residential Conversions

HUD released a notice of funding opportunity (NOFO) to study office-to-residential conversions which have grown in interest since the pandemic-induced shift to remote work.

25 Jul 2023

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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.

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