Safeguard Properties

<- Return To Featured Resources

USDA: Electronic Status Reporting Implementation Date Delayed Three Months!

Investor Update
September 1, 2017

This notification is to convey to USDA Guaranteed Loan Servicers that the implementation date for the required use of the new electronic status reporting enhancements will be delayed by three months from April 1, 2018 to July 1, 2018.
 
USDA Rural Development (RD) will adopt enhanced Electronic Status Reporting (ESR) on July 1, 2018.  At that time, all loan servicers are required to report for the period ending June 30, 2018 using the new Electronic Data Interchange (EDI) format or by using the web screens on USDALINC (https://usdalinc.sc.egov.usda.gov/RHShome.do).  Below are the new business reporting requirements: 
1.    Monthly default status reporting will be enhanced to add additional data fields and default status codes.  The current EDI Transaction Set 264 will continue to be used but will require many new data fields.  The new default reporting structure will be similar to that of the Federal Housing Administration (FHA).
2.    Quarterly status reporting will change in frequency from quarterly reporting to monthly reporting.  The EDI Transaction set 203 will continue to be used and will not change in structure.  However, the statuses of all loans will now be required on a monthly basis. 
3.    Loan servicers will now be required to perform corrections of their status reports, similar to what is required by FHA.
 
For loan servicers with a small USDA Rural Development portfolio, the web screen method of reporting will still be available in lieu of the EDI transaction sets.
 
The new “ESR Implementation Guide for the July 1, 2018 Effective Date” and “ESR Implementation Guide Release Notes” are located on the USDA LINC Training and Resource Library.  Loan servicers will need to review the Implementation Guide and develop their EDI files in accordance with the requirements in the guide.
 
Online user training and an ESR User Guide (for the web screen reporting and correction of the status reports) will be provided on the USDA LINC Training & Resource Library in the near future.  An announcement will be sent out on the GovDelivery SFH Guaranteed Servicing email updates once the training and User Guide are available.  To subscribe to the SFH Guaranteed Servicing email topic, please click here. 
 
We ask that loan servicers review both the “ESR Implementation Guide for the July 1, 2018 Effective Date” and “ESR Implementation Guide Release Notes” and should you have any questions or comments, please forward them to the following email boxes based on subject matter content:

For all other inquiries, you may contact us at 202-720-1452.
 
All Loan servicers should be preparing for the reporting changes.  Many lenders may now decide to move from Web reporting to EDI reporting.  Please note that reports using the new format cannot be reported prior to July 1, 2018.  All reporting prior to July 1, 2018 must be in the current reporting format.
Please note that all ESR users are required to have a USDA e-Authentication Level 2 ID.  As part of the Level 2 e-Authentication set up, users will be prompted with security questions.  Users must remember their security questions and answers as they will be required should your password need reset.

Help Resources

Policy Questions
Customer Service Center
Phone: 866-550-5887
Single Family Housing Guaranteed Loan Division
Phone: 202-720-1452
 
USDA ITS Service Desk Support Center
For e-Authentication assistance
Email: eAuthHelpDesk@ftc.usda.gov
Phone: 800-457-3642, option 1 (USDA e-Authentication Issues)
 
Rural Development Help Desk
For GUS system, outage or functionality assistance
Email: RD.HD@STL.USDA.GOV
Phone: 800-457-3642, option 2 (USDA Applications); then option 2 (Rural Development)

Source: USDA

Related Posts

HUD Allocates More than $2 Billion to Advance Equitable Disaster Recovery, Build Climate Change Resilience

The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery and CDBG-Mitigation funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act, signed into law on September 30, 2021.

Read More

HUD Employees Receive Management Excellence Award

A group of U.S. Department of Housing and Urban Development employees on Thursday were awarded the 2021 Samuel J. Heyman Service to America Medals.

Read More

<- Back To Newsroom Next Article ->

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing our website, you agree to our use of cookies.

x

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.

x

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.

x

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.

x

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.

x

Business Development

Carrie Tackett

Business Development Safeguard Properties