The mortgage segment is shrinking according to many industry leading indicators. The stock prices on non-bank servicers like Ocwen and Nationstar are at record lows. Ocwen is now a $2 stock … about the fee paid for a mortgage inspection. Foreclosurepedia talks about the increase in fraud, greed and corruption in the mortgage segment. Mortgage segment fraud already comprises 99.5% of the reported fraud in the industry. Can it really go any higher? Foreclosurepedia says that the participation and sponsorship of mortgage segment conferences is trending down with LABOR showing the weakest conference participation.
Mortgage related delinquencies and foreclosures are at 8-year lows. Field inspectors will not perform the $3 mortgage inspections that yield a profit of maybe $1.50. SOFI does not follow the mortgage segment in detail as the fees are so low … $3 mortgage inspections and some $15 grass cuts. Commercial inspections are the sweet spot in the industry. A business verification takes about 10-minutes onsite, requires half of the photos of a $3 mortgage inspections and pays 1,100% more than a $3 mortgage inspection. Don’t wear out your car with $3 mortgage inspections. The chicks will love your worn out car.