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VA: VALERI Special Announcement

Investor Update
April 23, 2019

Source: VA

The Department of Veterans Affairs (VA) is in the process of transitioning to a new VA Loan Electronic Reporting Interface (VALERI) application scheduled to ‘go-live’ on Tuesday, May 28, 2019. This initiative has generated great interest in the mortgage industry. The following information is provided to assist our program partners in anticipation of this exciting milestone:

• 4/1/19 – Last day Post Audit cases were selected (tentative date to resume 7/1).

• 4/6/19 – The 90-day and 180-day Adequacy of Servicing (AOS) reviews will no longer generate (120-day AOS reviews will continue to generate).

• 4/26/19 – Last day to submit claims and appeals (until May 28, 2019).

• 5/15/19 to 5/24/19 – The Servicer Web Portal in VALERI will be a read-only application.

• 5/15/19 to 5/24/19 – Servicers using direct connect/service platforms will report to both Black Knight and VA. VA will process all files on 5/27 in date order.

• 5/15/19 to 5/24/19 – Transfer of Custody events will not generate (details forthcoming on appeals in the new VALERI application).

• 5/17/19 – Tentative date for servicer training (details forthcoming).

• 5/23/19 – Reports will be unavailable after 2:00 PM EST (servicers should generate and save all reports prior to this cut off time).

• 5/24/19 to 5/27/19 – VALERI will be unavailable.

Additional information will be provided as the deployment date nears, but some of the changes in the new VALERI application include:

• Access for new VALERI will be obtained and managed through AccessVA.

• Pre-Approval requests must be submitted via email directly to the assigned Loan Technician (until further notice).

• For Post Audits, Appeals, and Supplemental Claims, servicers will be required to provide the specific page number of the supporting evidence.

• Manual events and all claims will no longer be reported on an individual event/loan basis. All manual reporting must be performed using new bulk upload templates (not yet available).

• Servicers will have to re-enter their Points of Contacts (POC) for each department (servicers should make a copy of existing  POCs before 5/23/19).

Servicers are encouraged to attend the next monthly webinar on Thursday, May 9, 2019, at 1:00 PM EST. Requests for webinar information and all other questions should be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov.

Thank you for your cooperation and patience during this important transition period.

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