The Mortgage Segment has created some real monster Mortgage Order Mills (MOMs). They become slow-pays or no-pays and then they are gone. They disappear! They don’t die … they just come back with a new company name. It’s like a sequel to “Alien vs. Predator” or “Wrong Turn”. There are always going to be MOM monsters.
I love a good monster movie like Alien vs. Predator. If you watch the daytime soap “Days of Our Lives” you will find the character John Black. John is believed to have died on October 17th, 2007 from complications due to a hit and run. Later, he is discovered alive in Stefano’s basement in January of 2008.
The Mortgage Segment is a lot like John Black in the soap opera. In one episode John is dead and then a few months later he is alive. Monster MOMs never die, they just change their company name.
I expect that in the Mortgage Segment that 2017 will be worst than 2016. The monster MOMs all flock together and they are all members of the same club. They are protected by the club. The club never calls out a monster MOM … they are protected. They are club members for life. A bankruptcy or criminal charges will not exclude them from club membership. They are protected as long as they pay the club dues.