Over the past several months, Foreclosurepedia has been working with artificial intelligence (AI) by utilizing OpenAI’s ChatGPT as well as Google’s Bard. In order to ensure that the Foreclosurepedia Nation is advised as to whether or not our Content is created by AI, we have adopted the Google Bard icon to be displayed on any Bard created article, which is our AI of choice. This is the first time in the history of Foreclosurepedia that AI has been used to create an article. To that point, the same information has been transmitted to Housing and Urban Development (HUD) as the use of AI now transcends all aspects of the Mortgage Field Services Industry.

It is quite astonishing in how AI may be leveraged. For example, it would be simple to use AI to create legal contracts or perform research on any subject matter. In fact, AI is used extensively in the Industry today by firms such as Affirm Data. It is also possible to leverage AI in the defense against chargebacks. The term Death By A Thousand Papercuts comes to mind in that for every chargeback you could design the response to be in upwards of over 100,000 pages. The storage nightmares alone would tend to reduce the amount of frivolous chargebacks almost immediately if Labor began to use the technology. Another example which the Foreclosurepedia Media Group, the owner of Foreclosurepedia, has recently set up for a Nonprofit Client in Minnesota is worth looking at.

Below, is an example of the use of AI to generate a contract for one of our products here. In both this case and the ones below, multiple versions were available. This is a Contract we now use for the Migration To Amazon AWS Servers. It was produced in under one (01) second.

CONTRACT FOR MIGRATION OF WEBSITE INTO AMAZON AWS SERVERS

This agreement (“Agreement”) is made and entered into on [Date] by and between [Client Name] (“Client”), having a principal place of business at [Client Address], and [Service Provider Name] (“Service Provider”), having a principal place of business at [Service Provider Address].

WHEREAS, Client desires to migrate its website to Amazon AWS servers and desires to engage Service Provider to perform such migration services;

NOW, THEREFORE, the parties agree as follows:

1. Migration Services: Service Provider shall provide the following migration services:
2. Assessment of the website’s current environment and dependencies.
3. Development of a migration plan that identifies the necessary steps to migrate the website to Amazon AWS servers.
4. Migration of the website and all necessary data to Amazon AWS servers.
5. Service Provider Obligations: Service Provider shall use commercially reasonable efforts to complete the migration of the website to Amazon AWS servers within [Number of days/weeks/months] of the effective date of this Agreement. Service Provider shall use reasonable care and skill in performing the migration services.
6. Client Obligations: Client shall provide Service Provider with access to the website and all necessary data to complete the migration services. Client shall also provide Service Provider with any assistance or information reasonably necessary to perform the migration services.
7. Fees: Client shall pay Service Provider a fee of [Fee Amount] for the migration services. Payment shall be due within [Number of days] days of completion of the migration services.
8. Confidentiality: Service Provider shall maintain the confidentiality of all information provided by Client in connection with the migration services.
9. Intellectual Property: Client shall retain all rights to any intellectual property associated with the website.
10. Warranties: Service Provider represents and warrants that it has the necessary skills and expertise to perform the migration services.
11. Limitation of Liability: Service Provider’s liability for any claims arising out of or related to this Agreement shall be limited to the amount of fees paid by Client to Service Provider for the migration services.
12. Termination: Either party may terminate this Agreement upon [Number of days/weeks/months] written notice to the other party.
13. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the [State/Country] without regard to its conflicts of law provisions.
14. Entire Agreement: This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether oral or written.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

[Client Name]

By: ___________________________

Name: _________________________

Title: __________________________

[Service Provider Name]

By: ___________________________

Name: _________________________

Title: __________________________

In the next case, we used AI in the capacity of a resident in a Recovery Residence to do several things. First, we wanted to create a resume, from a basic sentence, with typos and street language. Second, we wanted to engage AI from the point-of-view of an alcoholic whom was having cravings to drink. It should be noted that in both cases, the setting was based upon the individual being able to utilize a computer set up in a community setting within the Residence. This does two things: First, it allows the person to self complete their tasks without the humiliation of embarrassment for illiteracy or shame from having cravings. Second, it removes the staffing needs for all but the therapeutic needs which may arise during a tenant’s term of residency. And finally, these tasks being completed by AI may be billable to the municipal, county, state, and federal government as services rendered.

The Resume

Data Entered Into AI: i need a resume my name is John Doe I live at 100 Main St Minnesplis My phone is 123-456-7890 I paint I do flooring I have worked on cars for my dad and I know how to street hustle

Note the typos, the lack of company name or timeline, and the skill set of street hustle.

AI’s rendering: Sure, here is a resume for John Doe:

John Doe 100 Main St Minneapolis, MN 55401 (123) 456-7890 john.doe@email.com

Summary

Skilled and experienced painter, floor installer, and mechanic with a proven track record of success in a fast-paced and demanding environment. Proven ability to work independently and as part of a team.

Experience

Painter

ABC Company, Minneapolis, MN

January 2020 – Present

• Painted interior and exterior of homes and businesses
• Installed new paint and repaired damaged paint
• Worked with a variety of paints and finishes

Floor Installer

XYZ Company, Minneapolis, MN

February 2019 – December 2019

• Installed hardwood, tile, and carpet floors
• Worked with a variety of tools and materials
• Installed new floors and repaired damaged floors

Mechanic

123 Company, Minneapolis, MN

January 2018 – December 2018

• Worked on cars and trucks
• Repaired engines, transmissions, and other components
• Installed new parts and repaired damaged parts

Education

High School Diploma

Minneapolis High School, Minneapolis, MN

Skills

• Painting
• Flooring
• Mechanics
• Teamwork
• Independent work
• Problem solving
• Customer service
• Communication
• Time management
• Organization

Alcoholic’s Need For Advice

Data Entered Into AI: i am really woried about having a beer today as i am trying hard not to

Note the first person, conversational response!

AI’s rendering: I understand your worry. It is important to be mindful of your triggers and to make sure that you are in a safe and supportive environment when you are trying to abstain from alcohol. If you are feeling tempted, it may be helpful to reach out to a friend or family member for support, or to attend a meeting of a support group. You can also try to distract yourself with other activities, such as reading, taking a walk, or listening to music. Remember that you are not alone in this, and that there are people who care about you and want to help you succeed.

The reality is that the sky is the limit with AI and it most certainly is not going way. Regulations are certain to come; however, it may be too little, too late.

If you are interested in the application of AI to suit your business needs, including tailored chargeback responses for any situation, feel free to reach out today!

The following are a few excerpts from a larger article appearing on Foreclosurepedia over the weekend which occurred between Foreclosurepedia and several pre and post conveyance providers in the Mortgage Field Services Industry.

On layoffs and tech:  The layoffs are coming and it is going to be the new norm. Look, the only way any of us are still around is to have our names tacked up on the little plastic banners at the Five Star or IMN or wherever. But that comes at a steep price. We’ve peeled back just about as far as we can on what we pay Labor. Technology, if you call it that, really happens behind the scenes. PPW — Verisk as you say — is really just this front facing piece that collects information from those in the field. When it comes into us we have to mold it. You are right when you say that for every work order issued, we repackage it multiple times. But that is done with other pieces of tech that we pay for.

On lack of capital:  When you spoke of capitalization and who has it and who doesn’t you kinda hit a sore spot with a lot of C Level folks. As you know, we are not owned by a larger firm and I don’t think hedge firm is really the right word, but I’ll roll with it as it’s generic. Look, my company is paying when paid I mean we have capital to fall back on but why wouldn’t I? When I have to compete with say Guardian who has the ultimate backing of two huge entities and backstopped by SoftBank, it’s hard to make mistakes. And then the problem of Labor. I know you continue to drive home the point that Labor is getting the shitty end of the stick, but the reality is that many of these folks have nowhere else to go. I mean that is capitalism. So, if I make a mistake or a GSE decides not to pay me or slow pay me I still have to pay Labor and that comes out of my pocket immediately. MCS, Guardian hell ServiceLink can all go to their parent companies and pull the money. I’m not saying that’s unfair, but it makes it hard because I have to go pull that note at a higher rate if I don’t have the capital in house.

On Education:  The one thing none of us want is ongoing education in the Industry under one roof. I know that sounds horrible, but look there isn’t one size fits all. You were talking about how we all repackage a work order and the problem there is that I may have a I don’t know a FHA inspection, ok? And then I know that I have a Client whom is on the marketing side of that — appraisal, the realty side, whatever. So, I may throw in a few more photos like up and down the road. But when you test someone, say on the FHA regs and it doesn’t call for that then the education butts up against regs and that gets dicey. All of us tell our vendors how to do the work order and many of us have instructions on the website on how to do it. Forget about the employee misclassification, what I am driving at is we all have a way of doing it and that is how we market it upward to the Clients we bid on.

On Chargebacks:  Yeah, you really stirred up a shitstorm on that some years ago. Everyone knew it was a line item to bump the margins, but look, some of them were spot on. I saw that article about NFR and how they were squirming around to explain the Wells Fargo sheets sent over and that is really kinda how it goes down. We used to have Teams that could fight them, but honestly there is no longer that kind of money floating around. And if we start kicking up dust, then our Client might decide not to renew our Contract. If you want someone to blame, blame HUD or the banks. HUD knows exactly what is going on and if they thought it was wrong they would have come down on us a long time ago. I’ll grant you it’s all cat and mouse. You follow the cases; it’s no mystery. I mean it’s the cost of business and it doesn’t just hit Labor, as you say, we eat a lot of them ourselves.