Tue Apr 23 12:54:09 EDT 2024
Blog

A New Employee Misclassification Suit Tees Up as a Whistleblower Qui Tam Digs In

Pennsylvania and Texas both have one thing in common: Both states have litigation teeing up that potentially will change the landscape of our Industry. For years, firms like Mortgage Contracting Services (MCS) and other Prime Vendors have simply made multi-million dollar settlements and swept the damages onto their debit columns. The Vinson v MCS, et al. decision is a great example. While Jones Day, who represented MCS makes it look like a simple dismissal, the settlement costs --- to lawyers and Mr. Vinson himself --- tell . . .

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Union Victories in the South Become Industry Marching Orders

I was reviewing a Contract sent to me by an International Association of Field Service Technicians (IAFST) member the other day which was appalling. The pricing came from a Prime Vendor and set the baseline of initial grass cuts at $25 per acre. That is not a typo. Moreover, though, while the caveat was that negotiations were possible, those submitted were replied to with, "Well, we have people who will do it cheaper than that." Think about that. The audacity of a Prime Vendor . . .

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$6 and the American Dream: How Low Wages for Inspectors Threaten Homeownership

The American Dream often revolves around homeownership. But for many, that dream can turn into a financial nightmare --- and a big part of that nightmare might be invisible. The inspectors who ensure the safety and structural integrity of homes for Fannie Mae, Freddie Mac, and HUD loans are often paid a meager $6 per inspection. This, while companies coordinating these inspections like GIS Field Services, owned by Mortgage Contracting Services (MCS) parent company Littlejohn & Co.,  rake in a hefty $45 per home.

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The Podcasts Begin Again and the NAMFS Tax Returns

It's been a tough year for Verisk's right hand man, Eric Miller. Miller, the Executive Director of the National Association of Mortgage Field Services (NAMFS) --- or, as many call him, the shill for the National Association of Default Professionals (NADP) --- has been less and less relevant over the past several years. Fact of the matter is that his annual #FraudFest 2024 To read the article Subscribe today!

 

 

Prognostication: Multiple Pathways to Leave the Industry

Fun Fact: If you are doing inspections for less than $20 and initial grass cuts under $250, I am not your Consultant. That said, as I am not taking on a lot of new Clients unless they meet certain metrics, pricing is already dropping since the Mortgage Contracting Services (MCS) purchase of Five Brothers. It should come as no surprise based upon the bottom dollar price paid for them. Adding fuel to the fire, though, GIS Field Services has begun taking over all of the inspections and are offering . . .

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