Assurant Field Asset Services (AFAS) announced moments ago its new, across the board Vendor Pricing. This pricing pertains to any account, anywhere other than Puerto Rico and the Virgin Islands. Later today, I will opine in the way that only a trained media professional like myself is capable of doing; however, let me say that I applaud the across the board mentality. This is not to say that I do or do not approve of the pricing as Foreclosurepedia has always felt that Free Market Economics controls the supply and demand of Labor. I will say that the PPR Cubic Yard rate is something that even I could have made money at before I was blackballed by the National Association of Mortgage Field Services (NAMFS) Regime. The kicker is whether or not AFAS will commit to working with Members of Labor as opposed to National, Regional and Otherwise Unspecified Order Mills which would significantly dilute any potential good PR and obviously jeopardize any ability for Members of Labor to actually put food on the table.
On February 23, 2015, AFAS is implementing a standardized pricing platform. The new pricing will be included on any order offered to you on or after February 23, 2015. The new platform standardizes our pricing across ALL clients, investor types, and vendors. The new platform supersedes any previously negotiated rates with the exception of Puerto Rico and the Virgin Islands.
We performed a comprehensive study of our pricing and invoicing to determine gaps and opportunities for processes improvement. The study revealed the following opportunities for improvement:
Build consistency in the average rates that AFAS pays across all service items
Bring AFAS pricing into alignment with current market conditions
Eliminate unnecessary activities
Using the factors above, AFAS has identified commonly used service line items that will be covered under the standardized rates. If a service cannot be completed for the standardized pricing established, vendors will continue to use the current bidding process and guidelines.
Key Areas of Change:
- Vendor Management Fee – This fee will be eliminated. This means that the $2.00 charge for the VMF will no longer be charged on any work order.
- Vendor Base Fee – VBF will be eliminated and all orders will be invoiced to AFAS on a per line item basis.
PPR Debris – Debris will now be standardized across all states, vendors, and clients in the pre-sale environment. The rates will be standardized at $30CYD. This is a significant increase in many geographic areas and client portfolios.
- REO Debris – REO debris pricing will be $19CYD up to the overage as well as any debris removed above the allowable once bid.
- Debris CYD Verification – Wide-angle before and after load shots of all containers, trailers, and truck beds utilized to transport debris from site will be required to help verify cube counts. Eviction debris will be validated in the same way if it is removed from site. If debris is moved to the curb it will be estimated as it lays on the curb. All existing photo requirements remain.
- Grass Cuts – Grass cuts will be standardized across clients and investors. Pricing will remain on a state specific schedule. Available on page 6 of this announcement.
- Winterizations – Winterizations will be standardized across clients and investors. Pricing will remain on a state specific schedule. Available on page 5 of this announcement.
- Interior Inspections on Recuts – Interior inspections and interior surveys will no longer be required on grass recuts unless otherwise specified on the work order. All Wells Fargo grass cuts will continue to require an interior inspections and property condition survey to be completed.
- Boarding – All boarding will now be measured in United Inches (UI) and paid at $0.65 per UI. All boarding is to be completed with 5/8” inch plywood.
- Rekeys – (First lock per entry) – $35 each
- Additional Lock – (Second lock per entry) – $10.00 each
We understand that change can be difficult, but these are necessary steps to continue to successfully build your business and ours in today’s market. With the standardized pricing there are areas of gains and losses, and we believe that the overall outcome will benefit us all.
If you have additional questions, please contact: xxxxxxxxxxxxxxxx.
For Support and Vendor Tools, please visit: xxxxxxxxxxxxxxxxxxxxxx.
AFAS Vendor Blast and Pricing
- AFAS Pricing List
- AFAS QC Debris Examples
- AFAS Contact Guide
- AFAS Frequently Asked Questions
More on this tonight as Foreclosurepedia continues to document the trends which are following the timelines which we predicted 14 months ago!