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 … … the Client and pay zero to the Contractor — zero on bids or anything else — there is no way in hell you will be able to ratchet up what I predict will be well over 1.35 Million homes over the next 24 months. Let me lay out the Players to better establish what I am talking about,
In the Midwest you predominately have Five Brothels and ASONS. Five Brothels is stymied with the legacy of its involvement with US Bank and questionable Insurance Claims — I believe this will come to light soon — and ASONS has divorced itself of the potential to be bought and a changing of the guard at the Chief Executive Officer level. Out West you have no one. Oh, you have a couple of Order Mills which exist simply because they were Order Mills created by the high flying 20 percent margins, but perhaps only the National Real Estate Solutions (NRES) banner would be capable of mustering the required forces to perform and then only marginally at a National Level — at least Brian Mingham is ethical and honest unlike the NAMFS Regime. Altisource is done for as are the Non Bank Portfolio Holders — the purchasing of non performing notes to only screw poor people even more is no longer en vogue. The reality is that The Talking Bills — Erbey and Shepro — are impotent against the NY Banking Czar Benjamin Lawsky.
The Eastern Seaboard is a cacophony of swine wallowing in the muck. Concentric and TDR, owners of the collapsed Asset Management Specialists (AMS); the debt laiden Mortgage Contracting Solutions (MCS) and VPS, are in no capacity to reenter the spoils. Cyprexx and her counterparts — well, they have always been Second String to a Missing First String — rounds out the last of the Circus.
The sad reality is that the Last Hurrah is trumpeting out upon the Industry Landscape like a lone bugle playing Taps on a Civil War battlefield. Unlike the South at Appomattox Courthouse, the NAMFS Regime still believe that their defeat is short lived. The reality is that while there are a couple of Firms out there which might be able to legally and ethically perform upon Portfolios, none of them are capable of doing such Nationally anymore. The hodgepodge network of NAMFS Regime Member collapse and recycle has Labor skittish. Even Foreclosurepedia is loathe to recommend anyone unless we have performed Due Diligence upon them. The days of a simple phone call are long gone and there is no one to thank other than Eric Miller whom is gearing up for the NAMFS Regime Fraud Fest.
A lesson the Industry did not learn was that Weakness instills bravery in the predator. In this I mean that as the predator has become the prey; as NAMFS Regime Members now become the hunted and no longer the hunters, they should have realized that strength deters this. With the NAMFS Regime fractured; as there never was integrity and only sloth and greed binding these cowards to each other vis-a-vis each others crimes, the reality is that Viagra will not help these limp dick bastards.
Dovetailing into my Article this afternoon on the Changing of the Guard at ASONS, the reality is that the Mortgage Field Services Industry has reached the Zenith of its Golden Age. In the same way that Bronze gave way to iron — the Chinese were far superior, though, in double carbon which is another story — so, the Industry must come to terms with the New Frontier. Foreclosurepedia, as usual, will act as the Guide and Scout for both Management and Labor and as in all things Vincit Omnia Veritas.