2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
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2011
Safeguard Properties continues to expand network
Safeguard Properties is looking to expand its vendor network across the US, as demand soars with the lifting of pandemic-era foreclosure moratoriums.
The mortgage field services company works directly with banks and mortgage companies to perform field services on properties as they go through the foreclosure process. They carry out everything from occupancy inspections to securing the property and making sure it is kept in its current condition.
Their search for new vendors and inspectors has already begun in earnest – in October alone, the company added more than 275 subcontractors who complete inspections, preservation, and even yard/snow services. As 2022
draws to a close, it has more than 4,200 workers in its network, and is seeking to add 1,500 in the year ahead.
“We’ve seen a lot of foreclosure activity, which has definitely picked back up,” said Michael Greenbaum, Safeguard’s COO. We’re starting to see an uptick.”
However, when it comes to delinquencies – which he describes as someone getting behind on a loan, which can kick off an inspection process – that part of the market is in a different place entirely.
“That is at an all-time low on serious delinquencies,” he said. “I’m talking about multi-decade low.”
There is serious talk of a looming recession, and he concedes that “delinquencies are definitely correlated with unemployment. If we start to see an increase in unemployment, then I think you’re going to see that it’ll correlate very strongly” with a rise in delinquencies.
However, he is quick to offer caution.
“I don’t think we’re going to snap back to the 2007–2008 era, when you started seeing foreclosures going through the ceiling,” he said.
tell their stories through video testimonials. “That’s been wildly successful.”
Some workers have built a six-figure or even seven-figure business for themselves within Safeguard’s infrastructure.
“Not only is it possible to get started with us, but it’s actually possible to build a million-dollar business with us,” Greenbaum said.
Team members
So what kind of person is Greenbaum looking to have on the Safeguard team?
“When you come into our ecosystem, you have to be a good operator, meaning that you have to be able to control order inflow, work distribution – you have to be a good leader,” he said. “So, if that is who you are, and I bring you inside my network, you have the ability to expand geographically across different service lines. You’re a good operator and you know how to actually get orders turned around and deliver high quality.”
The “ecosystem” at Safeguard is a win-win partnership.
There are requirements for the worker, of course. Inspectors need their own vehicles, while property preservation people will also need tools like lawnmowers and trailers.
For those who join, there is a system of support waiting for them.
“We have the network available to support double the volume we currently have,” said Greenbaum. “Whether additional volume comes from an uptick in foreclosure activity or onboarding new clients, we have vendors who are hungry for it.”
Safeguard is America’s largest field service company and has been in operation for more than 30 years. For more details, visit www.safeguardproperties.com.
Spotlight
Geographic reach
The company has a network across the continental US and into Puerto Rico, Guam, and the US Virgin Islands, and is well situated to deal with an expected increase in volume.
“We have a solid, robust vendor network ready to take on volume as foreclosure numbers continue to rise,” said Brian Gecewich, Safeguard’s assistant vice president, vendor management.
But that doesn’t mean there are no challenges, or areas where the company might like to expand its reach.
“Right now, our focus is on trying to build up a denser or more competitive vendor base,” Gecewich said, in more high-cost areas like New England or the west coast. “Those are the areas where it’s probably most difficult to retain people, just because of some of the pricing pressures, and the other opportunities for people to do similar work.”
Like for other industries, there are challenges when it comes to finding new workers.
“The work requires people to physically go out and visit different properties,” Greenbaum said. “That requires you to actually get to the property itself, which obviously requires gas, so, as gas prices start to go up, and they’ve gone up a little bit, that’s a direct cost to us.”
There is also competition from some unlikely sources.
“There’s a lot of competition for independent contractors, meaning they can decide to do inspections for us or, conversely, they can decide to be an Uber driver or Lyft driver, or Grub Hub, all those different opportunities,” Greenbaum said. “That competition didn’t really used to exist.”
But Safeguard can offer a comfortable lifestyle to workers, if they are willing to put in the time and effort.
“The people who have been with us for decades, they’ve made a really good living with us,” he said. Greenbaum has encouraged those workers to
Safeguard was founded in May of 1990 by Robert Klein. It grew from a handful of employees into the largest mortgage field services company in the industry, with an extensive network of contractors throughout the United States. The company was founded with a focus on client satisfaction and strong business relationships. Safeguard is dedicated to building and sharing industry best practices to protect the integrity and value of our nation’s housing stock, to deliver the most efficient and cost-effective services in the industry, and to work on behalf of our clients to comply with all regulatory requirements.
Company Profile
1983
YEAR FOUNDED
100
MANPOWER
43%
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
60%
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years of Experience
25
Tenure at current position
2017 - Present
Fast Facts
Gaining international experience and learning about different people and cultures
Michael Greenbaum
COO at Safeguard Properties
With pandemic-era foreclosure moratoriums lifting, Safeguard Properties is ready to swing into action to maintain and inspect properties by expanding its vendor network across the US
Read on
“I don’t think we’re going to snap back to the 2007–2008 era, when you started seeing foreclosures going through the ceiling”
Michael Greenbaum, Safeguard Properties
“We have a solid, robust vendor network ready to take on volume as foreclosure numbers continue to rise”
Brian Gecewich,
Safeguard
Share
2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
Safeguard Properties continues to expand network
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
“That is at an all-time low on serious delinquencies,” he said. “I’m talking about multi-decade low.”
There is serious talk of a looming recession, and he concedes that “delinquencies are definitely correlated with unemployment. If we start to see an increase in unemployment, then I think you’re going to see that it’ll correlate very strongly” with a rise in delinquencies.
However, he is quick to offer caution.
“I don’t think we’re going to snap back to the 2007–2008 era, when you started seeing foreclosures going through the ceiling,” he said.
Geographic reach
The company has a network across the continental US and into Puerto Rico, Guam, and the US Virgin Islands, and is well situated to deal with an expected increase in volume.
“We have a solid, robust vendor network ready to take on volume as foreclosure numbers continue to rise,” said Brian Gecewich, Safeguard’s assistant vice president, vendor management.
But that doesn’t mean there are no challenges, or areas where the company might like to expand its reach.
“Right now, our focus is on trying to build up a denser or more competitive vendor base,” Gecewich said, in more high-cost areas like New England or the west coast. “Those are the areas where it’s probably most difficult to retain people, just because of some of the pricing pressures, and the other opportunities for people to do similar work.”
Like for other industries, there are challenges when it comes to finding new workers.
“The work requires people to physically go out and visit different properties,” Greenbaum said. “That requires you to actually get to the property itself, which obviously requires gas, so, as gas prices start to go up, and they’ve gone up a little bit, that’s a direct cost to us.”
There is also competition from some unlikely sources.
“There’s a lot of competition for independent contractors, meaning they can decide to do inspections for us or, conversely, they can decide to be an Uber driver or Lyft driver, or Grub Hub, all those different opportunities,” Greenbaum said. “That competition didn’t really used to exist.”
But Safeguard can offer a comfortable lifestyle to workers, if they are willing to put in the time and effort.
“The people who have been with us for decades, they’ve made a really good living with us,” he said. Greenbaum has encouraged those workers to tell their stories through video testimonials. “That’s been wildly successful.”
Some workers have built a six-figure or even seven-figure business for themselves within Safeguard’s infrastructure.
“Not only is it possible to get started with us, but it’s actually possible to build a million-dollar business with us,” Greenbaum said.
Team members
So what kind of person is Greenbaum looking to have on the Safeguard team?
“When you come into our ecosystem, you have to be a good operator, meaning that you have to be able to control order inflow, work distribution – you have to be a good leader,” he said. “So, if that is who you are, and I bring you inside my network, you have the ability to expand geographically across different service lines. You’re a good operator and you know how to actually get orders turned around and deliver high quality.”
The “ecosystem” at Safeguard is a win-win partnership.
Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
1983
YEAR FOUNDED
100
MANPOWER
43%
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
60%
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
“I don’t think we’re going to snap back to the 2007–2008 era, when you started seeing foreclosures going through the ceiling”
Michael Greenbaum, Safeguard Properties
“We have a solid, robust vendor network ready to take on volume as foreclosure numbers continue to rise”
Brian Gecewich,
Safeguard
Years of Experience
25
Tenure at current position
2017 - Present
BAsed In
Toronto, Ont.
Fast Facts
Gaining international experience and learning about different people and cultures
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
Share
Share
2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
Safeguard Properties continues to expand network
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
However, he is quick to offer caution.
“I don’t think we’re going to snap back to the 2007–2008 era, when you started seeing foreclosures going through the ceiling,” he said.
Geographic reach
The company has a network across the continental US and into Puerto Rico, Guam, and the US Virgin Islands, and is well situated to deal with an expected increase in volume.
“We have a solid, robust vendor network ready to take on volume as foreclosure numbers continue to rise,” said Brian Gecewich, Safeguard’s assistant vice president, vendor management.
But that doesn’t mean there are no challenges, or areas where the company might like to expand its reach.
“Right now, our focus is on trying to build up a denser or more competitive vendor base,” Gecewich said, in more high-cost areas like New England or the west coast. “Those are the areas where it’s probably most difficult to retain people, just because of some of the pricing pressures, and the other opportunities for people to do similar work.”
Like for other industries, there are challenges when it comes to finding new workers.
“The work requires people to physically go out and visit different properties,” Greenbaum said. “That requires you to actually get to the property itself, which obviously requires gas, so, as gas prices start to go up, and they’ve gone up a little bit, that’s a direct cost to us.”
There is also competition from some unlikely sources.
“There’s a lot of competition for independent contractors, meaning they can decide to do inspections for us or, conversely, they can decide to be an Uber driver or Lyft driver, or Grub Hub, all those different opportunities,” Greenbaum said. “That competition didn’t really used to exist.”
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
1983
YEAR FOUNDED
100
MANPOWER
43%
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
60%
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
Years of Experience
25
Tenure at current position
2017 - Present
BAsed In
Toronto, Ont.
Fast Facts
Gaining international experience and learning about different people and cultures
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
“I don’t think we’re going to snap back to the 2007–2008 era, when you started seeing foreclosures going through the ceiling”
Michael Greenbaum, Safeguard Properties
“We have a solid, robust vendor network ready to take on volume as foreclosure numbers continue to rise”
Brian Gecewich,
Safeguard
IN Partnership with
In Partnership with
In Partnership with
2011
2012
2015
2016
2019
2021
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2011
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2012
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2015
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2016
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2019
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2021
Milestones
As any homeowner will tell you, there is more to maintaining a property than mowing the lawn, painting a few walls, and paying the bills. Here is the full suite of services that Safeguard brings to bear when they arrive at a property:
Property inspections (exterior and interior, contact-attempt inspection, insurance loss inspection, FEMA inspections, and BrokerCheck inspections)
Property preservation (securing, winterizing, and debris removal, and even help managing monthly bill payments)
Real estate maintenance (securing, initial services, debris removal and maid services, winterizing, lawn maintenance, and other ongoing services)
Yard maintenance (grass cutting every two weeks, shrub maintenance once a season, snow removal of three inches or more, and surface salting)
FHA conveyance
Property registration (for commercial and residential properties)
Estimates and repairs (damage assessment and bio-hazard environmental remediation)
High-risk code enforcement (violation resolution and municipal research)
Property sanitization (deep clean and disinfection and safety protocol)
“We do all the marketing, meaning that we go out and we find all of the large servicer customers,” he explained. “We’ve taken care of that piece for you. You don’t have to do any advertisements. So that’s going to help you a ton on the income statement.”
Then, the technology comes into play.
“It’s sort of like business-in-a-box,” he said. “Meaning that I’m going to take that order, I’m going to pass it down to you. You’re going to go through my scripts, you’re going to take the required photographs. As long as you do a good job, [and] you do it on time to my standards, that comes back in, [and] you’re going to get paid very quickly.”
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“We do all the marketing, meaning that we go out and we find all of the large servicer customers,” he explained. “We’ve taken care of that piece for you. You don’t have to do any advertisements. So that’s going to help you a ton on the income statement.”
Then, the technology comes into play.
“It’s sort of like business-in-a-box,” he said. “Meaning that I’m going to take that order, I’m going to pass it down to you. You’re going to go through my scripts, you’re going to take the required photographs. As long as you do a good job, [and] you do it on time to my standards, that comes back in, [and] you’re going to get paid very quickly.”
There are requirements for the worker, of course. Inspectors need their own vehicles, while property preservation people will also need tools like lawnmowers and trailers.
For those who join, there is a system of support waiting for them.
“We have the network available to support double the volume we currently have,” said Greenbaum. “Whether additional volume comes from an uptick in foreclosure activity or onboarding new clients, we have vendors who are hungry for it.”
Safeguard is America’s largest field service company and has been in operation for more than 30 years. For more details, visit www.safeguardproperties.com.
Copyright © 1996-2023 KM Business Information US, Inc.
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Copyright © 1996-2023 KM Business Information US, Inc.
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People
Newsletter
About us
Authors
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Contact Us
RSS
News
MORTGAGE INDUSTRY
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UK
