The Mortgage Field Services Industry has always been unique in the fact that more times than not it refuses to pay Members of Labor and even when they pay Members of Labor, National, Regional and Otherwise Unspecified Order Mills come in, like vampires in the night, and seize the pay vis-a-vis other monies owed on separate Work Orders. The reality is that it is a sad day when one is able to say that McDonalds is hiring and they are paying better than Members of the National Association of Mortgage Field Services (NAMFS).
Wall Street Journal reported, yesterday, the following,
McDonald’s Corp. plans to raise wages by more than 10% for workers at U.S. restaurants it operates—fresh evidence of the rising wage pressure in the American labor market.
Starting July 1, McDonald’s will pay at least $1 an hour more than the local minimum wage for employees at the roughly 1,500 restaurants it owns in the U.S.
When you sit down and calculate the up front costs associated with a routine grass cut and factor in the $15 – $34 recut price, the reality is that McDonalds is paying more, per hour, than the Industry. And for those whom do not believe that those in the Industry are entitled to W2 Hourly rates, I have two words for you: Hurst v Buczek. This aside, I had a long conference call yesterday with several Sources over at the Consumer Financial Protection Bureau (CFPB) whom believe that it is time for a change. It is not just CFPB whom believes it is time for a change, either. In fact, whereas the focus has long been upon focusing scrutiny upon Labor, there is now a shift to examine those in the Administrative Sector.
Key to this scrutiny lays upon a closer examination of Firms and their financial solvency. “Simply having liquidity is no longer King,” as a Source speaking on condition of anonymity put it to me. “The issue is that we have all these people whom have bankruptcies; they as you put it have skeletons in their closet. And it is not just the principle owners. I believe we are having problems with the work product cycle. A large focus is going to begin upon taking a close look at whom is actually moving the paperwork from, as you call it Labor, to the end recipient.”
I have long advocated that those within the Administrative Sector are actually Members of Labor; however, they appear not to want that distinction. My best guess is that many of these people have skeletons of their own. As opposed to a Contractor, for want of better words, having to submit to arduous background checks and held hostage to a pay when paid scheme, many of those in the Administrative Sector fly under the radar. This is not to color all Administrative Sector workers this way. What I am saying is that by not applying the same, rigorous standards to those whom both own and operate the National, Regional and Otherwise Unspecified Order Mills the overhead and thus profit margin are obscenely out of proportion with Members of Labor.