Eric Miller, National Association of Mortgage Field Services (NAMFS) Executive Director, and Matt Zoldowski, NAMFS President have been out on the NAMFS Eras Tour hawking up Verisk to anyone who will listen. Problem is that the main targeted batch of folks who used to use Property Preservation Wizard and Pruvan, boots on the ground Labor, can no longer afford it. Miller and Zoldowski are both on the Verisk payroll and the Industry knows it. In all actuality, NAMFS should just change their name to the Verisk Association and be done with it, already. According to NAMFS own documentation, their #FraudFest 2024 is still $57,000 unfunded. In fact, other than a Tuesday hour long talk on insurance and a NADP hustle on working with Brokers — bearing in mind that the National Association of Realtors has collapsed under the recent $450 Million settlement that didn’t really cover anyone but the NAR Board — all sessions are Verisk pitch decks.
What is most startling is the fact that NONE of the institutionally based firms — companies owned by Black Knight, Littlejohn & Co. and Rithm Capital — whom are the vast majority of the Prime Vendors, have paid for any NAMFS sponsorships. And although Five Brothers is listed as covering the General Sessions Room, the booking is presumed to have taken place prior to their purchase by Littlejohn’s Mortgage Contracting Services (MCS).
By and large, the ability of our Industry’s Associations to excite their Membership has gone the way of the Circus as seen in the lead image for this article. Surveys performed amongst both NAMFS and International Association of Field Service Technicians (IAFST) members revealed a measurable disconnect with their Leadership. 19% of NAMFS members surveyed were able to identify their President’s name with only 6% at the IAFST. And when it came to responsiveness to requests of the Membership to their Leadership, only 3% at either NAMFS or IAFST stated they were happy with the results.
With respect to NAMFS, the only action taken to benefit its members has been the price increases by Fannie Mae, Freddie Mac, and HUD. The problem with this is that NAMFS Prime Vendors have refused to pass on the hundreds of millions of dollars in price increases to their fellow NAMFS members. This has created some public discontent. The $8 norm of inspection pricing paid by NAMFS members is actually $30 for exterior and $45 for interior inspections by Fannie Mae, Freddie Mac, and HUD. And when it comes to grass cuts, the $35 paid for initial grass cuts is actually being paid $525 in the case of Freddie Mac. When it comes to the IAFST, other than a handful of folks whom were paid a few dollars more for their inspections, the rest of the membership has been left out in the cold. And even those granted the pay hikes have now lost volume.
As Labor becomes more acutely aware of the value of a dollar, many are returning to their original Consultants in order to accomplish their goals in conjunction with developing new work within facilities and property management outside of the Industry. Fact of the matter is that when you look to spend your next dollar, you really need to determine whether you want the best white glove, high touch treatment for your money or if you are content on simply being part of a club.
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