Foreclosuremedia.Org … The Mortgage Field Services Industry Is Having A Come To Jesus Moment.

Foreclosurepedia says the the Mortgage Field Services Industry is having a Come To Jesus moment. Safeguard Properties (SGP) founder and owner, Robert Klein, is dead — literally. US Best Repairs is going under as they just lost Altisource and told all Misclassified Employees good luck on collecting — proverbially. NFN believed that Foreclosurepedia’s bullshit meter wasn’t up to snuff when they tried to scam Minority Females and Labor last December. NFN was forced into Involuntary Bankruptcy by the Team I assembled, on behalf of several of my Clients — Jack Jaffa is related SGP’s CEO, Alan Jaffa. M&M Mortgage has lost so many contracts it’s easier to count, on one hand, their remaining ones — and when it comes to pay cuts, their list looks like Papier mâché. Five Brothers has long been removed from the Swamp and anyone still working for them deserve the chargebacks plaguing those working there. Spectrum Field Services has been bought out by Chronos and began issuing chargebacks and price reductions on par with cuts during the Great Depression. Assurant Field Asset Services (AFAS) were just hit with $2.2 Million in jury verdicts in 7 of 150+ employee misclassification lawsuits. National Real Estate Solutions (NRES) went under ran by the never a hair out of place Brian Mingham. This leaves us with Mortgage Contracting Services (MCS) which will be lucky to see the third quarter of next year.

One Property Preservation Small Business Owed $338,175.10 By NFN … The Cumulative Losses Are HUGE!

I read documents acquired by Foreclosurepedia from the New Jersey Bankruptcy Court on National Field Network (NFN). The court records show that one small business is out $338,175.10 by working for NFN. The loss to property preservation labor is staggering. How do the numbers grow to such huge numbers? Why does LABOR let the Mortgage Order Mills (MOMs) have such a long float? Why are they not monitoring and controlling their receivables?

This ugly stuff routinely happens in the Mortgage Segment. The Mortgage Segment is the home of 99.5% of the fraud, greed and corruption in the field services industry. Many of the FaceBook groups do not discuss the real problems in the mortgage industry. They are posting photos of squirrels playing in the snow.

Don’t let a Mortgage Order Mill hang you out to dry. Avoid the mortgage segment. Focus on the higher quality firms that pay the higher fees in the commercial and insurance segments.

 

Hell NO! … Robots Will Not Replace $3 Mortgage Inspectors

The father of the $3 mortgage inspection has passed away. God rest his soul.

Robots will not replace the $3 mortgage inspector. It costs too much to purchase and program robots. Why go through all of that expense when there are $3 mortgage inspectors. Some will accept $2 mortgage inspections.

Foreclosurepedia.Org … IAFST Is The Place To Be … Replacing The Old 1990’s NAMFS Organization

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.