As Housing and Urban Development (HUD) keeps the hand wringing on overdrive on the Management and Marketing (M&M) Field Service Manager (FSM), the largest contract holder in recent history, Guardian Asset Management has been quietly landing contracts throughout the United States. As we reported several weeks ago, HUD issued — yet again — another Justification for Other Than Full and Open Competition (J&A) continuing out the saga of the HUD M&M FSM 3.12 awards. The J&A we reported upon expires today and thus far, no notices have been handed down by HUD. Curious about the state of Labor, with such confusion and both HUD and all Awardees — past and present — remaining silent, we decided to reach out and see what the State of the Industry was.
From Nevada to Connecticut, International Association of Mortgage Field Services (IAFST) Members have all reported a Year-over-Year increase in volume ranging from 115% to over 800% increases when it comes to Guardian. Building on that, the time to pay, which has been decreasing, to the massive reduction in underpayments — corrected in 48 hours or less — has been better than any advertising campaign money could buy!
With a combined total of work orders to IAFST members in the tens of thousands per month, Labor seems to be looking at Guardian for more than the HUD post conveyance work. And when it comes to a closer examination of how other National Association of Mortgage Field Services (NAMFS) members are refusing to pay Labor it should come as no surprise that the few good NAMFS members left have been rebranding themselves with the IAFST.
As always, Foreclosurepedia will keep Labor abreast of the HUD Awards as well as all other Mortgage Field Services Industry information you need!
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