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VA: VALERI Servicer Newsflash

Investor Update
June 26, 2019

Source: VA

Important Information

The new VALERI application was successfully deployed on May 28, 2019. The application is online and available for registered users. Following the deployment of any new application, areas of concern will arise. We are making every effort to address all identified issues, so we can continue to provide outstanding service to our industry partners. We sincerely appreciate your continued support and patience.

Accessing VALERI – The new VALERI application must be accessed with the Google Chrome browser.

Servicer Operational Reports – The Servicer Loan Listing and Claim Detail Results reports are populating incorrectly. Our development team is working to address the issues. In addition, all Analytic Reports are currently limited to a maximum of 10,000 rows. The issue will be resolved in our July release.

Transfer of Custody (TOC) Event– There are several business rules in the Transfer of Custody event that are erroneously failing causing the TOC event to reject. A resolution is in progress and expected soon. In the meantime, servicers are responsible for the asset until the TOC is reported in VALERI and custody of the property is accepted. Servicers must continue to perform property preservation and inspections until the property is in VA’s custody.

Electronic Default Notice (EDN) Event Reporting – EDN reporting failures are occurring erroneously due to the system falsely associating a previous default on the account. Servicers who are unable to successfully report an EDN in VALERI, but need to submit a pre-approval request, must email the request to the Loan Administration Officer in the office of jurisdiction. The Regional Loan Center contact information is located on the VALERI Internet site at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.

Appeal Claims – Line items for claims certified in the previous VALERI application are not displaying in the same manner. For claim appeals, servicers should email the assigned Loan Technician and upload the original claim detail results in addition to the appeal documentation. The technician will then review the appeal claim manually.

VALERI Event Statuses – The new VALERI application has the following event statuses:

•  Not Processed – Displayed when the event has been Withdrawn.

•  Accepted – Displayed when all business rules passed, and the event successfully processed.

•  Rejected – Displayed when a fatal business rule failure caused the event to Reject.

•  Requires VA Review – Displayed when there are non-fatal business rules failure(s). The event processed successfully but may require further review at a later date by VA. No further action is required from the servicer. This status will not change after VA review is complete.

VA Loan Technician Contact Information – Loan Technician contact information is currently located on the VALERI Internet page at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.

Servicer Point of Contact (POC) Information – Servicer Account Department POC information should be populated into the VALERI application as soon as possible.

VALERI Assistance – Any VALERI system related inquiries must be directed to valeri.vbaco@va.gov. Policy inquiries should still be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov.

Servicer Monthly Webinar – Servicers are encouraged to attend the next monthly webinar on July 11, 2019, at 1:00 PM EST. Requests for webinar information, for those who have not previously attended, should be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov at least 48 hours prior to the webinar.

VALERI HelpDesk

VA Central Office Loan Management

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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