The largest problem Contractors face with respect to Members of the National Association of Mortgage Field Services (NAMFS) Regime is getting paid. For years, the NAMFS Regime has turned a blind eye to its Membership defrauding Contractors by refusing to address these travesties in front of an Ethics Committee. To date, there have been relatively few options for Contractors to get paid; more on point, with well financed entities like Safeguard Properties, Contractors stood little chance of waiting out tedious court battles. That is until now.
The Contractual relationship between Contractors and Order Mills is well defined. Contractors provide a product for sale and Order Mills agree to buy it. Additionally, when Order Mills require Contractors to abide by Conditions placed by their Clients — financial institutions and portfolio holders — the Chain of Command becomes well defined.
It is surprising that no one within the Mortgage Field Services Industry ever set down and decided to closely examine the tens of millions of dollars of debt which Members of the NAMFS Regime refuse to pay each and every year. I suppose that the working theory was that by-in-large, Contractors are semi literate and semi educated. Truth be known, someone like me should have taken a cushy office job for 6 figures a year; I should have been paid to sit in a corner and keep my mouth shut. 😉 That didn’t happen, though. What did happen was two Members of the NAMFS Regime, CWIS LLC and AMS, thought that they would refuse to pay me due to the fact that they hired the felons Lambert and Mathis and felt they were responsible for the debt. We all know how that ended. The reality is that situations like these occur each and every day. Contractors need to have a Powerful Friend and Foreclosurepedia has begun to speak with that Friend.
Debt Collection Agencies have been around for years. Most Contractors have dealt with them, truth be known. Their reach is far and wide. As opposed to the shadowy world of litigation and liens, Debt Collectors get what they go after. The Debt Collections Industry wields a very powerful weapon, if they are licensed and have decades of experience. That weapon is the ability to enter negative reports into the Credit Bureaus. While the common consumer may or may not fear this, NAMFS Regime Members most assuredly do.
The world of Order Mills and Clients is rarely viewed by Contractors. Foreclosurepedia actually spent over a year, undercover, investigating it on behalf of several law firms. With respect to debt collectors and the power of the negative reporting capacities, it brings recalcitrant people to their knees. Dodd – Frank, along with virtually every single financial institution and portfolio holder, demand financial solvency. The reality is that Companies whom have negative reports entered with respect to failure to pay obligations sends red flags galore and generally will disqualify a Company’s ability to meaningfully participate in Contracting — it is guaranteed with respect to any US Government Contracts along with FannieMae, FreddieMac, etc.
One of the issues which has always presented has been that of back billing. The novel concept has always been that a Contractor performs work, invoices for it, is paid and then is told for some reason or another monies are going to be deducted from other work to back bill upon the already paid job. This is illegal; the NAMFS Regime Members know it, you know it. Additionally, when invoices are submitted, the bill begins and ends there. The reality is that each and every work order is a stand alone Contract in the eyes of the law, lest Contractors become employees. These days are conceivably a thing of the past.
Normally, Debt Collection Agencies are hesitant to become engaged in long outstanding debt — 180 Days Plus. The Mortgage Field Services Industry is different. The reality is that up to seven (07) years back is attainable as generally the NAMFS Regime Member is still in business. Provided that the Contractor has the documentation, the collections process would be fairly cut-and-dry as I see it. This is a commercial setting; this is not a consumer vs commercial situation like we see in say a utility bill or where the debtor has moved and skip tracing must be employed.
Foreclosurepedia’s entry into this Market will be fairly straight forward. For years now, Contractors have depended upon Foreclosurepedia to deliver the hard hitting information they need to be able to perform in an ever changing environment. One of the largest hesitations for Contractors has been that if they bring their issues to Foreclosurepedia, they run the risk of loosing work and becoming black balled. This is no longer a concern.
Foreclosurepedia is currently negotiating with two Debt Collections Agencies. Each of these Agencies have DECADES OF EXPERIENCE in the debt collections industry. A Contractor will simply click the icon on the sidebar of Foreclosurepedia. This will transfer them to a simple form wherein they will enter basic information with respect to whom they are and how much they are owed. This information will be securely transmitted to the appropriate Debt Collector. Foreclosurepedia will NEVER BE ALLOWED to discuss the matter. Additionally, the licensed Debt Collector handles the entire case. Cost to the Contractor for Foreclosurepedia to facilitate the partnership? ZERO DOLLARS AND ZERO CENTS!
Unlike other pending NAMFS Regime Bloggers like Terry Platt, we do not charge for our Services. Foreclosurepedia always has and always will advocate for the Contractor.
Foreclosurepedia realizes that not only are Contractors getting hit in the wallet. For several years now, Foreclosurepedia has quietly Consulted to prominent NAMFS Members. Foreclosurepedia has always been trusted to handle delicate matters within the Mortgage Field Services Industry. Now, more than ever, Clients whom are having issues collecting accounts receivable, should reach out. The reality is that with the same rock solid integrity which Foreclosurepedia brings to bear in the Protection of its Sources, we will additionally bring to bear upon the Collections Process.
The days of public shame are drawing to an end. Foreclosurepedia has brought the attention necessary with respect to both US Government Oversight and Public Awareness. Now, it is time for Foreclosurepedia to begin concentrating on working with a fractured Industry and identifying those within it whom both play by the rules and are committed to long term sustainability.
Stay tuned for our Podcast this Weekend with respect to Debt Collections and You. It will be a no holes barred discussion on how we envision the process and the security which we will implement to guarantee your privacy.