Asset Management Specialists (AMS) has been on a downward trajectory ever since Caroline Reaves became the Chief Executive Officer (CEO) of the ménage à trois between Mortgage Contracting Services (MCS), Vacant Property Specialists (VPS) and AMS. Since the usurpation by Reaves of the complete Command and Control of the trifecta; since the creation of MCS AMS Sub Holdings LLC, Foreclosurepedia has been preaching the Gospel from the Wilderness that Reaves’ power grab poses a clear and present danger to the US Department of Housing and Urban Development‘s (HUD) 188.8.131.52 in that MCS has a conflict of interest in their influence over AMS — not that legality was ever one of AMS’ finer suits as we will discuss in a moment.
Hey, no one can blame dear ‘ol Carol. I mean living in the Louisiana Bayou working as a janitor for dear ‘ol daddy — “…one of the hardest jobs she ever had[,]” — would leave anyone feeling Society owed them something, right?! I mean if you come from money; if daddy is a petroleum engineer, why should you have to push a broom when you can order others to do it — and never pay them! Yes, we documented where dear ‘ol Carol hired felons whom defrauded Christian Females here in East Tennessee.
Let’s talk a little bit about dear ‘ol Carol — now, don’t mistake her for another infamous Carol as in Carol Boyd although they are both Members of the National Association of Mortgage Field Services (NAMFS) Regime. One thing which is bad and I mean REALLY BAD in business is making spur of the moment decisions; following trends and allowing your heart instead of your mind to rule. Carol, though, proved early on, in life, that social mores be damned; it was her way or the highway.
Heading out to meet daddy for a skiing trip, Carol was diverted to a different flight. On that flight she met a total and complete stranger and as they say When in Rome Do As The Romans. As Carol relates what importance she places on decisions of great gravity, “He sat down next to me, and we got married two and a half months later.”
Wow. Well, it kinda explains how dear ‘ol Carol ended up in the Mortgage Field Services Industry. It also, all the more, emphasizes the reason why Foreclosurepedia reiterates its Call From The Wilderness to send Carol packing — I hear McDonald’s is hiring, Carol.
One of the largest problems in the Industry today is that while people like Reaves are out attempting to figure out the next power move, the Firms under her are tragically suffering. AMS is a prime example. Now, let’s not bullshit around. Mertins, et al., are not poster children for the Boy Scouts. I have had many an encounter with them both on my behalf and on the behalf of others by and through people like Salim Wilson. What Reaves failed to understand, though, is that when you burn Contractors and temporary employees alike, you develop many folks whom could give two shits about the airing of dirty laundry.
I have a taste for Jazz. Occasionally, when I have a Source come up I meet them in Nashville as the Knoxville Airport is down in Alcoa and not exactly the kind of area to have a quiet discussion without attracting attention. Ruth’s Cris is where I like to hang my proverbial hat over on the West End. I am a New York Strip man; she was content with the Lobster Bisque. Odd, I thought, after a flight from Philadelphia, but the reality is that we weren’t there for the meal anyway.
AMS has quite the serious problem as best I am able to discern. Apparently, AMS negotiates their Contracts at flat rates. What I mean is that AMS bids and is awarded Contracts based upon the Contractual Agreement that AMS will provide a plethora of services related to assets and in return they are issued enormous AND I MEAN ENORMOUS sums of money. While normal and generally the modus operandi of the NAMFS Regime Membership, AMS had a common problem shared with virtually all NAMFS Regime Members. That problem was that many of their Contractors had grown weary of getting screwed and I venture the guess that AMS also had a larger problem. That problem was AMS did not want to have to issue Work Orders which would impact the Profit Margin.
So, enter the Racket Model. What happens is that when you are doing FannieMae or US Department of Housing and Urban Development work, there is a requirement for Ongoing Routine Services such as Inspections and Cleaning. So, if you are being paid for let’s say Cleaning Services in a lump sum; if you only send a Contractor out once a month even though your Contract may state otherwise two things happen. First, you are committing fraud. Second, you end up with Contractors whom say they are not going to clean a property which hasn’t been serviced in months for $30. Factor in the twenty percent discount and then waiting 45 days and you have rebellion.
Contractors weren’t the only ones catching hell, though. The internal AMS Staff were constantly feeling the crack of the Mertins’ whip — or WHIPS of his appointed slave drivers or Department Managers whom we will get to later for their part in the scandal. Here’s how it went down according to her and others: The AMS Staff were told to get a Contractor to go service a property no one had been to in weeks. Most Contractors began to buck. When Mertins couldn’t get his Slave Contractors to perform weeks of services in one visit for the Slave Wages, he took it out on the staff and many were fired as a direct result according to them.
This source was even compelled to add that Mertins had hired a personal assistant (prior to her assignment), Brian Nisben (or something like that) whom spent long nights together in a back garage area when the rest of the building had cleared out for the evening. Many times they were still there in the morning. This was common knowledge in the inter-office gossip circle. As we say, when in Rome, but why did AMS pay for this alleged trist, if they did in fact finance the overtime, and precisely what do we label this as? Rumor mills are, at times, as or more dangerous than the Order Mills themselves! Mertins and his cronies (HUD Director, FNMA Director, et al.) underestimated the power of gossip as most of what they tried to hide is common knowledge in the Philadelphia area complex as evidenced by the people whom are stepping forward across Contracts as each week passes. The word is spreading and good people are reaching out and telling friends! Come one come all! YOU WILL BE KEPT ANONYMOUS AS THOSE BEFORE YOU.
The question that presents, though, is how does one go about proving it? You see, when you deal with HUD; when allegations of falsification of documents are made, there must be a way to prove it. Ah, there is and you are going to love it! To be able to justify the billing — on this note we are hearing that cooking the books with double billing was somewhat of an art — and to substantiate compliance with Contractual Agreements, photographic evidence is needed. Now, FannieMae Servers are considered private and generally not subject to Freedom of Information Act (FOIA) Requests. HUD is not private and subject to FOIA as it is a US Government Agency. The information entered from ANY HUD PRIME VENDOR is entered by and through the P260. To enter data via the P260 a C Number is required. Now, pay attention as this is important kids: NO ONE OTHER THAN THE PERSON ISSUED THE C NUMBER MAY UTILIZE ITS CREDENTIALS!
There is a common Industry Technique referred to by many names such as Screen Shotting, Desk Topping or Mirroring. It was addressed during the Innotion days by the HUD Office of the Inspector General. Screen Shotting is where you take a photo and then use a software tool to crop it. So, what a person does is crop the photo wherein the Date/Time Stamp is removed and you have the photo you want sans the stamp so that you may enter in your own. If the perpetrator is smart, they also change the EXiF Data which is embedded on the photo, to match the Date/Time Stamp. Most are not.
Enter the temps. The biggest problem with temporary help is that most of them are not consummate professionals. Additionally, many administrative temps never contemplate the fact that their superiors may instruct them to potentially commit crimes of federal magnitude; crossing state lines using electronic means comes to mind, along with tampering with work product and potential evidence. Screen Shotting, inevitably, leaves tell tale signs no matter how talented one is. First, remember the C Number? Yeah, when you begin to drill down on the IP Logs — even if the Facility uses one common hub each terminal is assigned a unique IP Address — you start to find the almost immortal and godlike ability for one human being to perform tasks upon multiple terminals simultaneously. On some occasions, the superhuman feat of being able to be in multiple cities simultaneously is demonstrated. Incredible; I mean I hear the distant echos of the Gods Themselves celebrating this multi dimensional talent!
Forget the C Numbers; the C Numbers are examples of wide spread fraud throughout the Industry. What I want you to do now is get a cup of coffee and tuck the kids in because we are going down the rabbit hole.
Screen Shotting. So, you load up a shit load of photos and instruct the temps that there was, “…a glitch…” in the System and we need to copy and paste the photos and reupload them. “Hey, forget about it, capiche?!” So, you begin to get a picture now of what I believe was occurring. Make no mistake it is verifiable. Whether you cross compare the EXiF data, examine the proportional size of the photos vis-a-vis the entirety of the portfolio uploaded over the lifetime of the asset (yeah, I really did Intelligence); whether you calculate the declination of shadowing and pixel granulation or perhaps even see the stray imperfection which each camera inherently has, none of this trumps the Ace I hold should HUD want to get real and open a case.
Potentially, AMS is in an extreme world of shit. Concentric and TDR will obviously make the logical choice and not appeal the loss of the HUD Contracts. Why? Well, we are potentially talking criminal indictments. With a THIRD OF A BILLION DOLLARS out in loans, this grand daddy of greed is heading belly up.
So, what do you do? Funny you should ask as I deal with this type of disaster scenario daily for Clients. I wager Reaves is gone — you have to sever those whom act upon impulse. Next, I figure the REAL BUSINESSMEN will take an Inventory of assets and begin to work on a WARN Act Notification to begin to rid themselves of the W2 nightmares. We already saw Reaves come in and impulsively castrate AMS by and through the firing – letting go of a half dozen folks including the former owner of AMS Ernie Stefkovic.
On that note, Ernie was by-in-large a decent guy. Client orientated, he did the best he could while an orgy of corruption grew behind his back. I would love to speak with you Ernie, off the record, if you would ever be so kind as to reach out. You know I do not get to where I am without protecting my Sources.
Finally, you raid the data; better shred then read as Ollie used to say, and liquidate the assets. Sound horrible? No. Sounds like an actuary’s wet dream. The reality is that the Mortgage Field Services Industry is going to come Kicking and Screaming into the 21st Century. As Contractors stood by and continued to praise the very people whom raped them they will now reap that which they have sown. #TheOracle is rarely wrong.
This one is ultimately going to have a Part II in the Courts, though. I predict that several large law firms are already sharpening the pencils for Class Action Litigation with respect to the Independent Contractor vs. Employee Status. As a public service I will provide unfettered access to the ISTAR Repository in exchange for a guarantee that AMS is crucified. When I take into consideration that which was done to the female FannieMae Regional Manager by Christie, et al., it will be a cold day in hell before I shed a tear. To be VERY CLEAR I give no more thought to seeing these cowards brought to justice than I do passing salt at the dinner table. I am hopeful I will be covering the Sentencing Phase of the Trials reminding us of the Dean Counce days — another STERLING example of a NAMFS Regime Member.
So, there you have it. Now, in all fairness, should Reaves or anyone else in my Article wish to comment on my opinions; should anyone wish to sit down for a transparent and candid one-on-one Interview with me, feel free to reach out. For those current and former AMS Employees interested, we are scheduling a Philadelphia Meet Up later this month as several of our Sources stated they could not fly down to Tennessee due to schedule conflicts. If you are interested, feel free to reach out! Heck, depending how many folks we end up with it could be like a Class Reunion! Hell, it gets me all warm and fuzzy inside; brings back memories of my days at PNSY and the Spectrum. Nothing like a BYOB Drink down on Walnut, ‘eh?!