Lessons Learned By Field Service Inspectors From Past Hurricanes
In 2004, hurricanes Jeanne and Frances hit the east coast of Florida and caused tremendous damage. Electrical power and the Internet in coastal areas like Melbourne was out for as long as a week. Many roads were closed for long periods of time. I was in Melbourne, Florida right after Jeanne and saw the destruction.
During and after Jeanne and Frances, I talked to some of the mortgage inspectors in the Melbourne to Cape Canaveral corridor. There were many complaints that some of the largest Mortgage Order Mills (MOMs) did not pay for late mortgage inspections. They did not want to hear excuses that the electric and the Internet was out and that many roads were closed. The MOMs would not pay for the late inspections … inspections that were late only because of a hurricane.
So if you are affected by hurricane Matthew, I suggest that you not attempt to perform any late mortgage inspections until such time as you have a written guarantee that you will be paid for the inspections. It seems that some of the MOMs can be real assholes in times of disaster when people are suffering the most. Don’t let the MOMs play their games where they win and you lose.
The mortgage segment is the home of 99.5% of the fraud, greed and corruption in the industry.