In June/July of 1999, the city of Auburn, New York instituted a city-wide change in how property addresses are numbered.  As a result, some property addresses for collateral in our clients' portfolios may still exist within the city of Auburn but may no longer correspond to a property securing the bank's loan. 

As you can imagine, this has the potential to create real complications with respect to property inspections and preservation orders at collateral properties that may be locally identified with new addresses while appearing in our records with addresses that now reference entirely different properties.
 
Safeguard has a spreadsheet, available here as  City of Auburn 911 Office Address Changes.xls, that lists each old address in the left-hand column and the address now assigned to that property in the right-hand column.  We've cross-referenced this list with our database and have reported all address matches to our clients.
 
In order to assure that our records reflect the correct address currently assigned to each property, we need to identify which properties are encumbered by mortgages executed prior to June/July of 1999.  Mortgages executed after that time should all have the correct current address.  We must also determine whether the client already provided SPI with an updated address sometime after 1999.
 
Please review the attached spreadsheet against your records to determine whether any of the properties in your portfolio (whether current or in default) are affected by this address change.  If you identify any affected properties, and/or if Safeguard has already provided you with a list of matching properties that appear in our system, please review those items and contact J Schwegel (j.schwegel@safeguardproperties.com, or at ext. 1123) to advise SPI whether the mortgage was executed prior to 1999 and whether an updated address has since been provided.  

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