Pinelands Preservations (Pinelands), best known for their $15 grass cuts along Craigslist, has severed ties with Safeguard Properties (SGP) at least in Tennessee. The boilerplate letter read, in part,
This e-mail is to inform you of an important update with Pinelands Preservations and our vendor Safeguard.
Safeguard and Fannie Mae have been performing quality control inspections in Tennessee as well as the other states we have been operating in. After receiving their reports and going through new negotiations of requirements and contracts, our company has decided to withdraw further work orders at this time. We will no longer be receiving work orders in all coverage zones of the state of Tennessee. All work that has been completed this pay period and up to 6-14-13 will be processed and invoiced.
Any invoice adjustments, reimbursements and price arrangements will be honored. However at this time I must ask that you submit all work that has been completed immediately…
and not continue on any remaining work at this time. Safeguard will begin cancelling all remaining work orders immediately so I cannot guarantee payment for any work that has been completed after 6-14-13.
I would like to reassure that this situation was not caused by any individual and that everyone was completing work up to the requested standards Pinelands Preservations contracted with you. I greatly appreciate your efforts and hard work and I apologize for this incredible inconvenience this may cause to you.
A Source, speaking on condition of anonymity, stated,
They are holding up a hell of a lot of the pay. Fannie [FannieMae] and Safeguard [SGP] began nitpicking on every little thing the possibly could. You know the deal. No way we could keep going.
Foreclosurepedia had worked last year and this year for Pinelands at negotiated price levels and had never had an issue with either their Vendor Management nor their payments.
