Welcome to the Mortgage Horror Blog.  The Mortgage Segment of the industry is the home of 99% of all of the problems in the field services industry. The field services industry offers some great opportunities in the commercial and insurance segments. The purpose of this blog is to identify the problems in the Mortgage Segment and to separate the problem-plagued Mortgage Segment from the better segments of the industry

Field Inspector Owes Bank of America $12,774,102.00


Dean Counce plead guilty to wire fraud after doctoring a few inspection reports that were submitted to Bank of America Field Services.

According to court documents, Dean lost two homes in Brooksville, Florida, a silver watch, a gold watch and a gold bracelet. The court also ordered restitution to Bank of America in the amount of $12,774,102.00.

He is 42 years old. He will be 50 after eight years in a federal prison in Virginia. The court has ordered Dean to pay $200 a month in restitution upon release from prison. It will take 5,322 years for Dean to pay the $12,774,102.00 restitution to Bank Of America.

Counce’s company was required to visit a property, complete a report, take photographs and send the information to the lender. Initially, Counce performed inspections himself. As his company grew, employees were hired to carry out the inspections. As the number of foreclosures skyrocketed, the employees were not able to keep up with the volume of inspection requests. Counce’s staff began fabricating reports.

According to investigators, Counce directed inspectors to visit the property and take more photographs than necessary. The photos were then used for subsequent reports. In other cases, Counce allegedly told workers to use information from public websites to fabricate reports for properties that were never inspected.

Employees estimated about 30 percent of the reports completed in 2007 and 2008 were fabricated. That percentage increased to 50 to 60 percent in 2009 when Counce won a new contract with Bank of America. Bank of America paid the company about $23.5 million over the course of five years.


The Daily Lies Of Mortgage Order Mill (MOM) Vendor Managers


If you talk to the independent contractors working for Mortgage Order Mills (MOMs), you will find that the biggest complaint is that the MOM vendor managers often lie to them. They cannot and will not tell the truth. They are also not very good at lying. I’m sure that they are trained to lie to field service representatives … but, not very well trained. They get caught in their lies.

Network with others and ask about their biggest complaint about the mortgage segment. In the mortgage segment, it has become okay to lie to field service representatives. Have you ever heard ethics discussed at an annual mortgage field services conference? It’s discussed at the bar … but, not in a conference event.

Lockte lost his Speedo sponsorship because he lied . The New York Post says he is an ugly American. The Daily News says he is a monster. Why is it that some of the worst ugly MOMs are not excluded from member organizations? Why are they protected?

Mortgage Order Mills (MOMs) Posts Ads For Field representatives On Craigslist … Pay In 30 Days … Maybe! Pay $1,265 Up Front!

Crazy Pills

When a Mortgage Order Mill (MOM) says “expect pay 30 days after the work is complete”, it means they have NO CAPITAL. Capital refers to financial assets or the financial value of assets, such as cash and funds held in deposit accounts, as well as the tangible machinery and production equipment. They have no money in the bank … they may have no credit. They pay their staff before they pay you. The MOM has to be paid by their client before you can get paid. If they do not get paid, you do not get paid. Some MOMs have a written independent contractor agreement that states that “you will not get paid if they do not get paid by their client”. Yikes! All of the RISK is on the independent contractor. And, the low pay is outrageous.

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The Time Line For $3 Mortgage Inspections


The time line for $3 mortgage inspections is that you pay $1,265 on DAY 1 for insurance and a background check before any inspections are assigned to you. Then you get a large dump of $3 mortgage inspections, some of which may be already late before you receive them. So you complete the inspections and then you wait 30 days to get paid. You pray that there are no huge chargebacks … penalties. After four weeks you decide that you are not making any money and you quit. You wait 30 days to get paid and you pray that there are no chargebacks. Maybe, you will get paid all that you are owed. Maybe not. None of your $1,265 upfront costs are refundable. You probably lost money and put a lot of miles on your car. The Mortgage Order Mill (MOM) did okay.

The 4-week cycle repeats with your replacement. Network and verify what I stated above.

Header Clipped From Foreclosurepedia.org



Paul William is the guardian angel of mortgage field service representatives. He is a friend of LABOR. Be sure to follow his BLOG to get the latest scoop on what is happening in the mortgage segment. The mortgage segment has gone from a TWO to a ZERO on a scale of TEN in the last five years. The mortgage segment is the home of 99.5% of the lawbreakers in the industry.


Ocwen Stock Is A Leading Indicator Of What Is Happening In The Mortgage Segment

August 19, 2016:  The stock of Ocwen Financial Corp (NYSE:OCN) is a huge mover today! About 866,382 shares traded hands. Ocwen Financial Corp (NYSE:OCN) has declined 46.91% since January 14, 2016 and is downtrending. It has underperformed by 60.70% the S&P500. The move comes after 6 months negative chart setup for the $393.69M company.

The below image depicts what is happening in the mortgage servicing segment of the industry. The wheels are off and the car is rusted. The engine is gone. It’s been stripped. The mortgage servicing segment is the home of 99.9% of the fraud, greed and corruption in the industry. It is the center of $3 mortgage inspections and $7.50 grass cuts. Mortgage inspections fees were much higher 20 years ago. Workers are now required to pay about $1,265 for insurance and a background check. You will be penalized with chargebacks which you cannot dispute. The Mortgage Order Mills (MOMs) rule … they always win … you always lose. You may not get paid.


Everything Is Awesome In The Mortgage Segment! … You Will Be Told That Again & Again At The Dallas Conference!


The volume of mortgage delinquencies and foreclosures are at 8-year lows. The stocks of the non-bank servicers have crashed. The average mortgage inspection pays $3 and New Mexico grass cuts pay $7.50. Every thing is awesome in the mortgage segment!

Labor says that the mortgage segment can be represented by the image below. The old barn is rotting from decades of fraud, greed and corruption. It’s ready to fall on its side.

Old Barn


Air Force Short On Fighter Pilots … Field Services Industry Short On Mortgage Inspectors

Fighter pilot retention bonuses could soar to record heights of $400,000 or more, if the U.S. Air Force has its way. In the field services industry, the mortgage segment is short of $3 mortgage inspectors, but there will be no retention bonus for mortgage inspectors. Some of the Mortgage Order Mills (MOMs) will offer to pay higher fees to get mortgage inspections completed and in the end not make any payment … zero pay.


The mortgage segment is the home of 99.5% of the fraud, greed and corruption in the industry. Expect no mortgage inspector retention bonus … just broken promises.