The mortgage segment is the home of $3 mortgage drive-by inspections and 99% of all of the fraud in the industry. Mortgage inspectors are “out of breath”. Too many mortgage inspectors are chasing $3 mortgage inspections requiring as many as eight photos. Mortgage inspectors race through town as the mortgage inspection profit is about $1.50 after expenses. Most don’t last long on the job.
Fannie-Mae and Freddie-Mac are jacking up the requirements for their property inspections. It looks like the Government is looking for mortgage field inspectors with NACHI home inspector experience. The NACHI home inspector is not going to accept a $15 inspection fee. It’s all about demanding expert advice, but not willing to pay the price for a professional opinion. The fee must fit the requirements demanded.
The mortgage order mills and the Government are always looking for cheap labor. Mortgage inspectors will find “Ventilator Powder” at booth 15 at the next mortgage association conference/exhibit. It will help mortgage inspectors with their heavy breathing. Staying up late at night filing reports and uploading gads of photos is also not good for your health. No one is looking out for the mortgage inspector. You the mortgage inspector are cheap labor and you are on your own. You will be liable for damaged property if you miss something or maybe just because you are the easiest to blame.
Some of the mortgage order mills will offer to pay you more for rush out of area inspections and then not deliver on the extra pay. I am hearing some complaints on this. Don’t work for another mortgage inspector … avoid slow-pay Barbara in Texas.