One thing that neither the US government nor financial institutions like, with respect to the distressed asset channel, is acrimony and chaos. And with the latest hostile takeover of the National Association of Mortgage Field Services (NAMFS) Board of Directors by Jonathan Dedman Dietz, operator of GIS Field Services, SHTF is an acronym being used readily in many of the internal emails going back and forth. In fact, earlier this week, Foreclosurepedia was advised that the enormity of cash flowing in from Littlejohn & Co., by and through their ownership of both MCS and GIS, is making gorillas like Verisk, concerned. As everyone in the Industry is familiar with, Verisk now controls all property preservation and bidding software on the property preservation side of the Mortgage Field Services Industry. With respect to the inspections side, there are only two options. And with a US government shutdown only 48 hours away, many are asking whether or not Dietz will lead the charge not to pay Labor on FHA – HUD, USDA, VA as well as Fannie Mae and Freddie Mac work orders.
The fix is in; however, it is sowing even more discord within the ranks of middlemen and women on the NAMFS Board. Whereas, normally there would be fraud for all to share, Littlejohn & Co. has made it quite clear that their financial pool of antitrust is one all for their own. It is reminiscent of the dick waiving contests between surfers with My Beach, My Sand, My Surf — You go home!
It was bound to happen and quite honestly I am surprised it didn’t sooner. I mean Littlejohn’s smash and grab tactics with MCS and GIS as their shield wall are the spot on hostile takeover tactics a rookie trader learns while snorting cocaine of a whore’s ass his first year in trading. I would make the Wolf of Wall Street reference here, but Angus and the Boyz are lacking in the class that Jordan Belfort demonstrated when he told the FBI to piss up a rope. Look, the RMK Calliope may represent the tokenized lifestyle of the Littlejohn experience, but I am here to tell you that this is simply the first salvo coming across the bow, no pun intended. And the difference between the new mavericks coming into the fray today is that they drop more on a tip at Ruth’s Chris than Altisource, Cyprexx, and Safeguard combined make in a year. And it is that which these elderly CEO’s had best come to terms on rapidly.
The Come To Jesus Moment has already blown past the NAMFS Board. And any belief that NAMFS Executive Director Eric Miller is anything other than a charlatan now is only held by those profiting from the dismantling of the Industry hierarchy. What firms are not institutionalized yet will simply become the feudal lords servicing the rural areas and relegated to mop up operations. The subservience is already visible when you drill down on the stats.
The reality is bleak. And now there is very little ability to unring the bell. Those on the NAMFS Board whom preached the Doctrine of Rebellion have been forced to go down on one knee and bow their head lest they lose any more work. It would be cartoonish, in nature, had not Labor been raped in the process. And to that point, I want to be very clear: I am going to drill down deep and find out which companies allowed their Contractor data to be raided. I say allowed as there was no contractual requirement to submit Contractor information to MCS. It was only done in order to further profit upon the backs of Labor. And when that investigation is done, Foreclosurepedia is going to profile your company right alongside GIS Field Services.
And with the death of Senator Dianne Feinstein earlier this morning and the precarious balance in the mix, it’s going to get more insane, more rapidly than ever. RIP Sen. Dianne Feinstien.
