Archives For: Industry Update

Statement of Director Sandra L. Thompson on the FSOC Nonbank Mortgage Servicing Report

Comments from FHFA Director Sandra L. Thompson on the Financial Stability Oversight Council report on nonbank mortgage servicing.

10 May 2024

Sam Valverde in Seat as Acting President of Ginnie Mae

Effective May 6, Sam Velverde entered the role of Acting President of Ginnie Mae following the resignation of Alanna McCargo.

9 May 2024

Fannie “Real Estate Owned” Inventory Decreased in Q1 2024

Fannie Mae reports that their “Real Estate Owned” (REO) inventory decreased 5% from the previous quarter, and 9% year-over-year.

6 May 2024

HUD Extends Additional Relief to Borrowers in Maui, HI

HUD announced it is extending its foreclosure moratorium for borrowers of FHA-insured mortgages in Maui County, HI through August 4, 2024.

6 May 2024

HUD Issues Fair Housing Act Guidance on Applications of Artificial Intelligence

HUD released two guidance documents addressing of the Fair Housing Act to two area in which the use of artificial intelligence poses concerns.

2 May 2024

CoreLogic: US Mortgage Delinquency, Foreclosure Rates Hover Near Historic Lows in February

CoreLogic reports that in February 2024, 2.8% of US mortgages were in some stage of delinquency, down year-over-year from February 2023.

25 Apr 2024

Share of Mortgage Loans in Forbearance Remains at .22% in March

The MBA monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance remained unchanged at .22% in March 2024.

22 Apr 2024

ICE First Look at Mortgage Performance: Serious Delinquencies at Lowest Since Mid-2006 as Foreclosures Drop, Prepayments Rise

ICE revealed its ‘First Look’ at March 2024 month-end mortgage performance, reporting the national delinquency rate dropped to 3.20%.

22 Apr 2024

Ginnie Mae President Alanna McCargo Announces Resignation

HUD announced that Alanna McCargo, President of Ginnie Mae, will resign on May 3. She has served in the Biden-Harris Administration since 2021.

19 Apr 2024

FHFA Releases Housing Mission Report for 2023

FHFA released the Housing Mission Report for 2023, describing activities by the GSEs and FHLBanks to promote access to affordable housing opportunities.

17 Apr 2024

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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