I always like to hear a good story. They are few and far in between in my line of work. Many of you remember Bret Douglas, owner of Ironclad Preservation down in Florida. Douglas and I have always been fairly close in that we are both ex military and both blunt and candid people. Douglas had an issue several months back which is not all that uncommon in the United States today actually. He had an issue and unlike many people in the United States, he addressed it head on. I have a lot of respect for that.
Everyone is human; it is what we do that determines whether or not we have humanity. In the case of Douglas, military training took over. He recognized that he had a Mission Objective to secure, addressed the necessary dynamics and proceeded accordingly. Early on I was in contact with Douglas to ensure that the support system was available. At the end of the day, it is simply another page in the history books.
They say that you know whom your friends are when you are down and out. I know this quite well. When I came back stateside I had monkeys on my back. Whereas, many people think they understand what another is going through, no one does. Each of us battle the ghosts whom have served; those of us whom have seen combat on a daily basis. It is upon our shoulders, though, to secure solutions for failure is not an option. It is in that spirit that Clients should set the benchmark. Far better to have people whom identify problems and solve them than a noob prodding around blindly.
Back on his A Game, Douglas and I had a few calls leading up to this Article. Two things we both agree upon: The Industry is in a turbulent time of change; and there has never been a time more important than now to begin to coordinate Contractor Compliance.
The Florida Association Servicing Technicians (FAST) is the title for a meeting on 02 August 2014. Mark it on the calendar. Holiday Inn Express & Suites, Orange City, FL. So, to make sure everyone is on the same page, Douglas and I are going to meet up here in the Bunker and have a Dedicated Podcast to both discuss Ironclad and the FAST Conference. Now, with that said, I have in my possession the Agenda for the FAST Conference and it really doesn’t look too shabby. Barring some monumental event like the National Association of Mortgage Field Services (NAMFS) Regime naming me Acting Executive Director with unlimited powers to clean house I will be in attendance and streaming some live Foreclosurepedia Podcasts and scheduling a few Consulting Sessions. Who knows, maybe I’ll even take off the Anonymous Mask?!
Here is the reality: We have a fucking problem in the Industry which is far more serious than the NAMFS Regime. Did that get your attention? Truth be known, NAMFS is a bygone line item in a cesspool which is cleaning itself up as most natural disasters do. The problem is that the Regulations which I predicted would crucify the Mortgage Field Services Industry have arrived. Now, if you remember I stated the Industry needed to begin to police itself and lobby, but the NAMFS Regime would have none of that so what we have is the Consumer Financial Protection Bureau (CFPB).
Make no mistake whatsoever the CFPB is out for blood. In some ways I applaud that. I think, like the mountain folk, a bit of blood letting every now and then is a good thing. Problem is we are not attaching leeches we are severing the aorta here. CFPB is like a Juggalo on a bad acid trip slashing left and right without concern. FAST will hopefully be the beginning dialogue for Contractors to come together and sit down and do in the hack Order Mills whom have no idea what the fuck is going on. So, on the one hand, CFPB is good in that we are going to dramatically thin the herd. Take for example Mortgage Contracting Services (MCS) applying what I have been preaching for almost 12 months now,
In an effort to increase quality control throughout the MCS network, field representatives cannot complete both maintenance and inspection services on the same property. In the event a vendor is assigned a property where both maintenance and inspection services are provided, vendors are required to use a different field representative to complete the assignment. Please contact your RVM in the event you are unable to reassign an order to a different field representative. On a quarterly basis, vendors are expected to confirm that this new policy is actively enforced by certifying acknowledgement and compliance on the Quarterly Certification Checklist.
Change is here folks. The question now becomes whom is going to survive the next cut. Compliance. Period. Clear this hurdle and there are only three more. Yup, I said THREE. Q3 and Q4 2014 are going to see changes which will make all previously look like a joke. Folks, the gauntlet is the new norm. For those of you still out there using Windows XP and 7 you’re gone. Those of you waiting for Contractors to upload photos and praying to G-d that they got the right angle? Step into the same line as Heather Berghorst. Those of you whom make this next cut are going to be lean, mean Contracting Machines.
Part of my discussions I will unofficially make at the FAST Conference will revolve around the fact that Florida is Ground Zero. The Line is drawn there and WE WILL HOLD IT AT ALL COST. Period. Let that sink in because if you are coming down to stare at some bikinis and grab a pint, don’t bother. NAMFS has their September Fraud Fest where you will feel more at home. FAST is about Contractors and Clients whom are about making money and effecting change! If people think that I went postal on the NAMFS Regime, I pity those Contractors whom waiver. When you walk away from FAST you are going to represent the epitome of the Front Line.
Those Clients whom have met me will attest to the fact that I am a hard man. People pay me very good money to tell them things they do not want to hear. They do this because it is far more cost effective to be compliant than to be a loose end for a Portfolio Holder. The position you do not want to be in is having to hire me to make your problems go away. Granted, the pay is even higher; however, Compliance is the High Road and far more comfortable.
FAST Conference is going to open that door for people. Not only will Compliance be addressed, the doors which are opened are priceless. Look, this is about YOU THE CONTRACTOR. While Q1 2015 may seem like an eternity away, those of you whom get your shit together now will reap the benefits. Lender Processing Services is already shifting direction to Contractors throughout the Southeast. Altisource, even though I have issues with their handling of the Berghorst and Buczek Affairs, are additionally focusing on the Contractor base. The question you have to ask yourself is not can you afford to go, but rather can you afford NOT TO GO!