The talk of the town this morning is the price increases on Housing and Urban Development‘s (HUD) Mortgagee Letter (ML) inspection pricing entitled ML 2023-20. By in large, the inspections match up with the Fannie Mae and Freddie Mac price increases in March and August of this year, respectively. Very little, if any, of this money is reaching the boots on the ground, though. The question now is whether or not these latest price increases mean anything to anyone other than the Prime Vendors whom pocket the money. Let me let you in on a well known secret amongst Labor, Prime Vendors can get all the price hikes they want, because if Labor won’t do the work, Prime Vendors pay the fines, not Labor.
Fact of the matter is no one really cares anymore. In one of our latest Surveys, Foreclosurepedia found that less than 10% of inspectors remaining in the Industry had been here for more than 3 years. That is both an astounding and terrifying number. And out of that 10% almost every single respondent stated this was their final year.
It is all a shill game. First, NAMFS makes a huge press release about how they were the only ones whom engaged with HUD and got the price hikes. That was an outright lie. In fact, as early as 2021 the International Association of Field Service Technicians (IAFST) had submitted a series of Memoranda to HUD and specifically to Craig Karnes, now HUD’s Acting Deputy Chief Procurement Officer. The reality, though, is that it simply is too little and far too late. And this has been the story of the Biden Administration and specifically HUD, under the leadership of Secretary Marcia Fudge. Shills, tokenism, call it what you want, but make no mistake that not a single penny will ever reach Labor.
Pro Tip: What good are any price hikes if you are never going to be paid? As HUD 
continues to protect 24 Asset Management and their tens of millions of dollars in HUD M&M FSM Awards, their subsidiary, Assero, has hundreds of thousands of dollars in claims owed. The sooner people begin to physically demonstrate at the physical homes and offices of Assero and 24 Asset Management, the better. The financial terrorism which has been thrust upon Labor, for decades, must come to an end.
The reality is that those people who originally created Lee Mertins are just as responsible for his actions today as they were where he learned the Art of the Fraud. The Industry has become nothing more that a self fulfilling prophecy of flaming dumpsters in an echo chamber. And there will be no miraculous salvation to put the flames out. Labor has had enough. And whereas in the past I had hopes for turning the corner, today, the fraud and greed have taken total and complete control. Get out while you still can! Reach out today if you are interested in migrating to the real world where you are paid a living wage and not tossed crumbs from the table!
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