Safeguard Properties, LLC

  • Overview

Safeguard Properties works to protect the homes of its clients. Serving mortgage lenders, Safeguard provides mortgage field services at foreclosed properties, including property inspection and preservation, eviction, title services, hazardous claims, and code enforcement. The company offers its services through employees and a network of subcontractors. It operates throughout the US and in the Virgin Islands and Puerto Rico. Clients have included large lenders, such as Bank of America and Fifth Third Bank, as well as law firms and city agencies. Safeguard Properties was founded in 1990 by former CEO Robert Klein, who headed the company until mid-2010.

Geographic Reach

Ohio-based Safeguard Properties operates primarily in the Midwest, with business that extends nationwide, including the Virgin Islands and Puerto Rico.

Sales and Marketing

As part of its business of inspecting and maintaining defaulted and foreclosed properties, Safeguard Properties serves mortgage servicers, lenders, and other financial institutions.

Financial Performance

The $1 billion company has grown in recent years, thanks to increased volumes as default rates rise. Also aiding in its sales boost are new clients and an acquisition.

Strategy

Safeguard Properties has been expanding its business by launching new products and extending its reach geographically. In 2013, the company rolled out its MapAlert system, which integrates weather data with property condition and inspection data. MapAlert allows mortgage clients to quickly assess the potential for damages to properties in their portfolios and move to take action in targeted zones, mitigate damages, and reach out to troubled borrowers. To make its field and insurance loss property inspections more efficient and accurate, Safeguard Properties also launched an updated version of its INSPI Mobile application. The company expanded to the Dallas suburb of Richardson, Texas, in 2013, as well.

Operations

As part of its operations and services, Safeguard Properties is plugged into technology. It offers clients an application for business process management, as well as Internet portals for clients, contractors, and inspectors where they can order, communicate, post photos, and store reports. The company monitors quality and manages incidents through technologies that track client requests and compliance status. Inspection orders and results are delivered real-time through a mobile inspections platform. Safeguard Properties also maintains an Avaya call center platform for supporting multiple service center locations. It leverages technologies from IBM, Microsoft, and Oracle. From suppliers Equator, Res.net, HomeTracker, Xactimate, and Marshall Swift, Safeguard Properties boasts third-party order processing and invoicing integration.

Mergers and Acquisitions

Safeguard Properties expanded its operations in 2012 when it acquired the field service operations of financial giant Bank of America. The company took over control of Bank of America's portfolio of defaulted and real estate owned properties for three facilities.

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Safeguard Properties, LLC


7887 Safeguard Cir
Cleveland, OH 44125-5742
Phone: 1 (216) 739-2900
Fax: 1 (216) 7392700
www.safeguardproperties.com

STATS


  • Employer Type: Unknown
  • President: Gregory Assaf
  • President: Krysten Kowalski
  • Chairman: Phil Neumann

Major Office Locations

  • Cleveland, OH

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