Even Eric Miller, the current and apparent lifetime appointee as Executive Director of NAMFS, began his Industry start at LPS. Miller, whose salary is One Hundred and Twenty Thousand Two Hundred and Forty Dollars per year; Miller’s salary which consumes nearly NINETY PERCENT of all NAMFS member dues, wants no change to the status quo. And the problem with Miller’s myopic vision is that the State of California’s Supreme Court joined 6 years worth of federal court rulings against NAMFS members, last week.
The takeaway I have, from my meeting up here in Indianapolis, is that the days of quaint NAMFS Leadership are over when it comes to addressing what few issues they ever did. It goes without saying that with the only major NAMFS member whom has a vested interest in the continued status quo is MCS. Safeguard Properties (SGP) is, for all intents and purposes, on life support with the death of Robert Klein. Five Brothers is following the Involuntary Bankruptcy of National Field Network (NFN) and the reality is that with National Field Representatives (NFR) now implementing Twenty Five Thousand Dollar fines, at will, the prevailing portfolio provider is going to be Fannie Mae. As a government sponsored enterprise (GSE), Fannie Mae already has enough problems attempting to get out from under the thumb of Uncle Sam. Fannie Mae reported a $6.5 billion dollar net loss and a comprehensive $6.7 billion loss on their Q4 FY2017 report — while simultaneously taking a $3.7 billion cash infusion from US Taxpayers.