Archives For: REO

Q3 Update: Delinquencies, Foreclosures and REO

CalculatedRisk Newsletter reports that we will not see a surge in foreclosures that would significantly impact house prices for two key reasons.

13 Dec 2024

Top 10 Counties with Greatest Number of REOs in August 2024

Based on data from the August 2024 U.S. Foreclosure Market Report, ATTOM breaks down the top 10 counties with the highest number of REO properties.

13 Sep 2024

Fannie “Real Estate Owned” Inventory Decreased 10% in Q2 2024

Fannie Mae reported their ‘Real Estate Owned’ inventory decreased by 10% at the end of second quarter 2024.

13 Aug 2024

Q2 Auction Demand Slips as Retail Inventory Rises

Auction.com reports that demand for distressed REO properties sold at auction showed early signs of slipping in June 2024.

26 Jul 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

Fannie “Real Estate Owned” Inventory Decreased Q4 2023

Fannie Mae reports the number of REOs decreased to 8.403 at the end of 2023, down 4% from the end of Q4 2022.

15 Feb 2024

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

Fannie REO Inventory Essentially Unchanged in Q1

Fannie Mae reports that Real Estate Owned (REO) inventory is essentially unchanged in Q1 of 2023.

8 May 2023

Fannie REO Inventory Increased in Q1 YoY; Expected to Increase Further in 2022

Fannie Mae reported the number of REO increased to 7,430 at the end of Q1 2022 compared to 6,918 at the end of Q1 2021.

3 May 2022

FHA Expands Real-Estate Owned Property Purchase Opportunities for Owner-Occupant Buyers

The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit bids for the purchase of these homes before they become eligible for purchase by investors.

13 Jan 2022

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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