Sun Jul 14 21:22:14 EDT 2024

Eric Miller: The Vain Imposter of Liberty Whom Wears No Clothes

The pharisaical hypocrisy surrounding the aging National Association of Mortgage Field Services (NAMFS) Executive Director, Eric Miller, is best exemplified by his latest demands of over $110,000 a year in salary to remain constant as it has for almost a decade now. In support of His Highness Miller’s demands he personally submitted to the IRS in May of 2023 justification of his demands as success of his actions — or inactions as the Industry has seen. First, the Miller Regime lost $62,104 in their latest publicly filed fiscal year. Obviously, the opportunities of avarice and corruption have been bound by Miller to NAMFS — the fleecing of a nonprofit, so to speak. This, while the Miller Regime increased expenses by over $90,000! Let that sink in, for a moment while ruminating upon the simple and salient fact that NAMFS membership has dropped by nearly $13,000 YoY. Only a short time ago, NAMFS levied hundreds of thousands of dollars in membership fees and today they set at a meager $59,684. Let’s recap the looting of the trade association by the Miller Regime,

Currently, Eric Miller’s salary consumes 184.3% of all NAMFS member dues. Moreover, though, Eric Miller’s salary is $172,104 more than the entire revenue stream! 


The opulence demanded by Eric Miller, at the expense of Minority Females and Labor, is a clear demonstration of precisely how far evil men will go to commit wholesale looting of nonprofit organizations. More surprising, though, is the lengths to which Miller’s Board signs off on the fleecing of their own nonprofit. Like a page ripped out of the REOMAC playbook — now the new and improved NADP — everything but the light covers are being hocked in order to keep Miller’s decades long financial rampage afloat.

Miller’s intransigence, when it comes to his adamant refusal to understand that it is Labor, not Management, whom performs the services. And those very services are that which everyone is paid from — A Contract Without Labor Has Zero Value!

In our Paid Industry Insider, we break down the massive amount of funds Miller and his Regime have squandered and dig deep into the next chapter of the potential IRS investigation to come.

Fannie Mae Looking to Reopen Contracts as Prime Vendors Fail

Fannie Mae, a government-sponsored enterprise (GSE), plays a critical role in the U.S. housing finance system by providing liquidity to the mortgage market. Recently, Fannie Mae has been preparing to put up for bid their current foreclosure contracts. This move comes amidst growing concerns about timelines not being met, price increases pocketed by their Prime Vendors and a significant shortage of labor, leading to the lowest pay rates for Labor in over 30 years. This article delves into these challenges, the impact on the housing market, and the intricacies of servicing rights on Fannie Mae mortgages.

The Current State of Fannie Mae’s Foreclosure Contracts

Fannie Mae’s foreclosure contracts are essential for managing properties that have gone into default. These contracts are awarded to prime vendors responsible for maintaining, marketing, and eventually selling foreclosed properties. However, the current landscape for these contracts is fraught with challenges:

  1. Timelines Not Being Met: One of the most pressing issues is the inability to meet established timelines for processing and managing foreclosures. This delay has a cascading effect, prolonging the time properties remain unsold and increasing holding costs. It also is showing a troubling pattern, not dissimilar to HUD’s M&M FSM, of a revolving door of incompetence.

  2. Labor Shortages: There is a significant shortage of skilled labor in the property maintenance and real estate sectors. This shortage has negatively impacted Fannie Mae’s ability to abide by federal regulations. Moreover, though, even as Fannie Mae has almost tripled the pay of Prime Vendors, Labor has not seen a price hike in over 30+ years.

Statistics Highlighting the Challenges

To better understand the magnitude of these issues, consider the following statistics:

  • Timeliness: According to industry reports, nearly 37% of Fannie Mae’s foreclosure timelines are not being met, leading to extended property holding periods.
  • Labor Market: The U.S. Bureau of Labor Statistics as well as the National Association of Mortgage Field Services (NAMFS) indicates that the foreclosure sector has seen a 70+ % decrease in available skilled labor over the past five years.
  • Pay Rates: Prime Vendors’ pay rates have nearly tripled while Labor’s pay has not increased for over three decades.

Servicing Rights on Fannie Mae Mortgages

Servicing rights are a crucial aspect of mortgage management. They grant the holder the authority to collect mortgage payments, manage escrow accounts, and handle foreclosure proceedings. These rights can be sold or transferred, creating a dynamic market for mortgage servicing:

  1. Economic Impact: The value of servicing rights is influenced by interest rates, default rates, and the overall health of the housing market. When foreclosure rates rise, the cost and complexity of managing these loans increase, impacting the profitability of servicing rights.

  2. Market Trends: In recent years, the market for servicing rights has seen increased activity. Investors and financial institutions are keenly interested in acquiring these rights, seeing them as long-term investments despite the short-term challenges.

  3. Regulatory Environment: Fannie Mae operates under stringent regulatory oversight, which affects how servicing rights are managed and transferred. Recent regulatory changes aim to enhance transparency and accountability in the foreclosure process, further complicating the landscape for servicers.

Future Outlook and Strategies

As Fannie Mae prepares to put their foreclosure contracts up for bid, several strategies could help mitigate the current challenges:

  1. Adjusting Pay Rates: Increasing pay rates for Labor, thus forcing Prime Vendors could attract more skilled labor, improving the efficiency and timeliness of foreclosure processes.

  2. Leveraging Technology: Investing in technology to streamline foreclosure management can reduce delays and enhance overall efficiency. This includes adopting advanced property management software and leveraging data analytics to predict and address potential bottlenecks.

  3. Collaboration and Training: Partnering with industry organizations to provide training and certification programs for workers can help build a more robust labor pool. The IAFST University has been a leader in this field, for over a decade, with pricing beginning at $9.95 per year. This collaborative approach can ensure that prime vendors have access to qualified personnel.

  4. Regulatory Compliance: Staying ahead of regulatory changes and ensuring compliance can prevent costly penalties and delays. This involves regular training for staff and close coordination with regulatory bodies.


Fannie Mae’s decision to put its foreclosure contracts up for bid comes at a critical juncture. With timelines not being met, labor shortages, and historically low pay rates, significant challenges lie ahead. However, by adjusting strategies and leveraging technology, Fannie Mae and its new Prime Vendors can navigate these challenges, ensuring more efficient foreclosure management and contributing to the stability of the housing market. Understanding the complexities of servicing rights on Fannie Mae mortgages will also play a crucial role in shaping the future of foreclosure contracts and the broader mortgage servicing landscape.

If you are interested in bidding on the Fannie Mae offerings in the future, or any other offerings, reach out today to discuss Retainer options.

Go Woke, Go Broke: How the Industry Invested in DEI with Labor’s Money

When Mortgage Contracting Services (MCS) was gobbled up by Littlejohn & Co., a boutique vulture capitalist fund in Bridgeport, CT, no one was thinking about how the interest default of nearly half a billion dollars in loans by MCS bettered the lives of homosexuals. And when MCS rolled out their woke DEI policy recently, the costs have begun taking a larger chunk out of profits than before. Littlejohn’s DEI policy, though, placed them straight in the crosshairs of conservatives and Labor alike. Specifically, Littlejohn adopted The Ten Principles of the UN Global Compact. More on that, in a moment.

To put all this into view, in the meantime, here is what the Washington Post had to say last week,

One year after the Supreme Court struck down race-based admissions at Harvard and other schools, court rulings have forced the removal of racial preferences from two major covid relief programs, a federal contracting program that doles out $20 billion a year, and even the U.S. Minority Business Development Agency, a 55-year-old agency that was ordered in March to open its doors to all races. Meanwhile, private companies are acting preemptively, seeking to avoid litigation by terminating fellowships and executive bonus programs aimed at employing minorities.

And to be even more clear on the nationwide reversal on DEI, here is how NPR put it when it came to Tractor Supply Company (TSC),

Tractor Supply Company, which bills itself as the largest rural lifestyle retailer in the U.S., will eliminate its diversity, equity and inclusion (DEI) roles, withdraw its carbon emissions goals and stop sponsoring Pride events in response to criticism from conservative activists.

TSC isn’t the only Fortune 500 company facing the backlash of hardworking Americans currently being targeted by far left woke policies. At the recent National Association of Mortgage Field Services (NAMFS) Annual Conference, the NAMFS Board of Directors approved the support of Gender Identity and along with NAMFS Membership, physically volunteered with Refresh North Texas. Seems innocuous, right, keeping proper hygiene for the kids? The problem presents when you actually read their website’s agenda of gender identity,

And while the collapse of NAMFS began several years ago, Eric Miller, NAMFS Executive Director’s hanging of their future on gender identity is yet another nail in their coffin. It gets better, though. It appears to be an industry-wide move. Take, for example, the choice of MCS to advocate for homosexuals, minorities, and left leaning interests over the very Labor that pays the bills. It is a suicide mission of epic, financial proportions, regardless of the wheelchair logo that MCS has cooked up. That logo is seen to the right and located here. The movement of MCS into both a potentially anti-trust buying market within our Industry as well as an enormous movement into employee-based services makes they and Littlejohn large targets on the conservative radar.

The reality is that the small circle of loyalists advising the Miller Regime have failed him, completely. And similar to the recently publicized infirmities of President Biden, keeping the NAMFS Executive Director Eric Miller out of the public eye has thus far worked. Both NAMFS and the National Association of Default Professionals (NADP) appear to have a lockdown on what and how Miller is allowed to publicly appear. And when it comes to unscripted social media or Association commentary, it has been missing for over a year, now. The distancing of Verisk, the firm that bought Property Preservation Wizard from NAMFS President Matt Zoldowski, from Miller has been palpable. Moreover, though, many are beginning to question whether or not Miller has the stamina to perform, in light of his age and the decade plus long iron grip control over NAMFS.

Whether or not DEI and ESG goals are even constitutional has been challenged successfully as high as the Supreme Court. The question that presents is whether or not Labor will continue to perform $5.90 inspections to ensure the continued funding for left wing, woke policies — especially that of gender identity which NAMFS champions. After all, with the typical fast food job paying nearly $20 an hour, who Labor works for is now their choice, more than ever.

Is the Microsoft Teams Anti Trust Case a Warning to Verisk and InspectorADE?

Ask anyone in the Industry about their options for submitting work orders and they will tell you there are none. For property preservation there is Veriskwho owns Property Preservation Wizard and Pruvan. Additionally, Verisk controls all bidding software for the Industry. And for inspections there is InspectorADEit is the only inspection software that has been granted access to all NAMFS Prime Vendors. Think about that, in a multi-billion dollar industry, only one option for software. More on point, though, once control was seized, both software providers increased their pricing. The bigger problem, though, stems from the abusive practices coming from the customer service — or lack thereof in many cases. Take InspectorADE, for example. The inability to monitor when their system is up or down does not exist other than showing up at a site to find that it is down. This, coupled with the inability to reach customer service other than Pacific Time — that excludes over TWO HUNDRED MILLION AMERICANS. Imagine, you head into New York City at 7am to perform Rush Inspections only to find that InspectorADE is down. You have to wait, in congestion traffic after paying massive tolls on the GW Bridge, a minimum of three hours to even send an email. It is a plain and simple stranglehold.

When you address InspectorADE’s charging of 32 cents per inspection, at an estimated a million inspection orders per month — factoring in the double billing of firms whom must access the order via their separate accounts in combination with an average of 4 different inspections per property — that is a whopping THREE HUNDRED AND TWENTY THOUSAND DOLLARS a month and THREE MILLION EIGHT HUNDRED AND FORTY THOUSAND DOLLARS a year. This does not even include the commercial real estate inspections in which there is an estimated $1 Trillion worth of assets tanking, right now.

Hundreds of millions of dollars flowing into InspectorADE, over the years, and zero responsibility to the consumer. It is not simply InspectorADE, though. Verisk joins InspectorADE in their unfair advantage over competitors attempting to enter the space and refusing to provide portability options. With soon to be filed Consumer Financial Protection Bureau (CFPB) complaints against both parties, it should be interesting to see the outcome. You may follow all CFPB complaints, filed against offenders, and their outcomes, here.

Editor’s Note: We corrected the $32 Million per month to $320,000 per month and  the $384 Million per year to $3.84 Million.

Industry Technology and the Anti Trust Shell Game

Over the past decade, only two things have changed, when it comes to technology in the Mortgage Field Services Industry. The first is a massive price increase. And the second is the near complete control of all work order software now owned by Verisk. Today, Verisk controls all property preservation work order and bidding software for the entirety of the foreclosure ecosystem. And when it comes to inspections, within the Industry, there are only two pieces of software, InspectorADE and EZInspections. In fact, Housing and Urban Development (HUD) is well aware of the anti-trust setting currently being fostered in our Industry,

I don’t know that it would move into the Anti-Trust space yet, but it does certainly appear to be headed in that direction. The price hikes as they gobble up the competition would certainly help lay the groundwork for an Anti-Trust case. Either way, it does certainly raise certain security concerns. I know that it’s at least on HUD’s radar, as it came up in an internal meeting I was in a couple weeks back where concerns were raised. — Senior HUD official 26 January 2023

The irony of all ironies is that Verisk has a Policy on Modern Slavery. I mean, you cannot make this shit up. Now, I am not that well versed in what slavery is or is not, but I will tell you that buying up all software options and then increasing the price certainly IS NOT working towards freedom for all! It is a hypocrite’s position and as hollow as the souls of the Verisk executives, themselves.

The cost of EZInspections has remained flat, for quite some time; however, the price of InspectorADE recently rose to an astounding thirty-two cents per order. While I do not know what InspectorADE’s expenses are, I know you fluff revenue when you are looking to sell. And it would come as no surprise to find out that Verisk’s next move is on the inspection software providers.

And while Prime Vendors may consider that pennies on the dollar, the reality is these very same Prime Vendors demand the use of InspectorADE to complete their work orders. When you address the average of $5.90 paid, per inspection, by Prime Vendors like GIS Field Services, a subsidiary of MCS.

If you are tired of the outrageous pricing, being billed multiple times to multiple inspectors up and down the inspection ecosystem, you are not alone. Later this week, we will be sending out anonymous Surveys to take the pulse of how bad it is, for submission to the CFPB and DoJ. Let your voice be heard or reach out direct!