Sun Apr 14 7:44:39 EDT 2024
Home#OpNAMFSAs Predicted: Foreclosures On Steroids

As Predicted: Foreclosures On Steroids

So, it would look like the Market is finally falling into line with Foreclosurepedia's predictions. HousingWire has a piece up today about the HELOCs resetting over the next two years with an average price increase of around $250 per month. Unlike HousingWire, Foreclosurepedia is not so bullish about the Housing Sector. In this I mean that the two year guideline merely describes the rate adjustment. What was left out was the fact that in Q4FY2014 and Q1Fy2015, these rates start kicking in. The $250 is a conservative number, as well. Coupled with the fact that in upwards of 80 percent of the HELOCs are suspect, at best, we are in for a world of shit. Now, the Mortgage Field Services Industry may be licking their chops, but I wouldn't be dancing a jig. Let me explain why in the way that only a trained media professional is capable of doing,

Members of the National Association of Mortgage Field Services (NAMFS) Regime are in no way ready for a spinning up of volume. First, with fraud and corruption running rampant through its ranks; with a high percentage of its slave market failing Background Checks and remaining unreported, it would collapse under the type of Regulatory Scrutiny with which the US Government would focus in Act Two of the Bankster Fraud. Added to this is the specter of the Consumer Financial Protection Bureau (CFPB) which is blood letting NAMFS Regime Members like Altisource in a manner last seen when Rasputin was alive and kicking in Czarist Russia, no way in hell could the tens of millions of dollars in fraud per year be accomplished like in Act One. Throw into the mix the salient fact that what remaining NAMFS Regime Members left are both archaic from a technological point-of-view and the talent once available underneath the Circus Tent of Contractors have exited, Stage Left, and you have a Perfect Storm for Federal Takeover.

During Act One, you had the infrastructure in place which allowed for the Pipeline to move the homes. What I mean is that CFPB did not exist. Second, you had Firms such as Safeguard Properties and others unencumbered with litigation --- hell, Klein was a force to be contended with prior to what would appear to be Early Onset of Dementia. The Industry Landscape today is far different. Cash strapped and crippled by an Order Mill infrastructure calculated to submit fraudulent bids to ...

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Paul Williams
Paul Williams
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