The International Association of Field Service Technicians (IAFST) is kicking off their 2019 Roadshow Tour beginning in Southington, Connecticut. People will begin arriving Friday for a Meet and Greet with the Summit being held Saturday, the 9th of March, 2019. Labor and Management will be rolling up their sleeves to discuss an agenda which is contrary to that which was discussed at the typical National Association of Mortgage Field Services (NAMFS) #FraudFest. Unlike NAMFS, the IAFST represents the men and women whom perform services upon the distressed assets which are created by the flawed policies and lack of both regulation and transparency within the Mortgage Field Services Industry. Anyone whom believes that the housing sector is healthy need go no further than look at the ninety percent correlation in today’s markets with respect to 1937. And the position of the has been one of continued waste, fraud, and abuse as the NAMFS President has doubled down on the historically failed policy of suing Foreclosurepedia. NAMFS promises profits and delivers only upon blue skying.
With respect to Inspection firms, the IAFST Southington Summit will be representing nearly $5 Million worth of firms — that is tangible money. Firms within the Rehab and Restoration / Tenant Occupied space, attending the Summit, will be represented from Maine to Texas and north through Michigan.
A large part of the Summit will be dedicated to discussions with respect to the lack of concern, by NAMFS members, in addressing their liability of hiring financially insolvent order mills such as Primestar and MSI. There is now the ability to bring together Labor to negotiate whom they are willing to work with. This, in turn, now determines which Prime Vendors are able to hold on to their portfolios. Foreclosurepedia has been extremely vocal in conversations with IAFST Member firms and their unwillingness to make good on debts owed, by order mills such as Alliance, Primestar and MSI. Passing the buck off, without properly auditing all the way down to Labor, is bullshit. This is nothing more glamorous than the mob blowing out a company after it has ran all of the credit through that they can.
The fix is in. Go no further than Wells Fargo refusing to pay tens if not hundreds of millions of dollars to everyone including the NAMFS President, Justis Smith, herself! And what is happening is that NAMFS members are sucking up all of the credit they can from Labor. Then, when Labor pulls the plug, NAMFS members begin a campaign of insurance claims which has been so egregious that there are now only TWO firms willing to provide insurance to the Industry!
Preservation is dead. Period. End of sentence. And it is to this point that the IAFST is beginning to build upon: Training, Technology, and Tenant Occupied — T3. The IAFST will always be committed to working with its Membership whom elect to continue working within the Industry; however, the future is within the moderinzed channels of Rehab and Disaster.
The IAFST Southington Summit will discuss several new entries into the Industry including AllyConnect. We are bearish on its application within the Industry itself, but are bullish on its further reaching applications within the T3 space. To that point, IAFST will be working to address its viability with respect to integration and how IAFST harnesses DUNS, the System for Award Management (SAM), and our own proprietary ISTAR system.
The IAFST Southington Summit will discuss the creation of a buy in consortium to compete with the current oligopic Industry. It has met with a warm response from several hedge funds whom have grown weary of inordinate failures upon the back of egregious pricing models. The backbone of the consortium will be based upon the framework in which John Bravacos, Special Advisor to US Department of Housing and Urban Development (HUD) Secretary Ben Carson, originally drafted for the IAFST with respect to bidding upon US government contracts. The length and breadth of Bravacos’ Legal Memorandum is measured only by the prescient request to draft it by the IAFST.
Finally, the IAFST Southington Summit will be the precursor to the highly anticipated IAFST Summit in Florida, later this year, celebrating the first ever Summit of Labor convened by Brett Douglas and Paul Williams so many years ago. Kicking off in anticipation of a weak El Niño, the reality is that three consecutive years of historic hurricane damage are still being dealt with and even an average hurricane season will require the marshalling of massive resources, inspectors, and rehab and restoration specialists. The IAFST has been working with its Membership to bring on Xactimate as a backbone skillset. As opposed to XactPRM, which the Industry relies upon to undercut pricing by nearly sixty percent, Xactimate is the required bidding software for disaster repair.
Above and beyond the simple fact that NAMFS members require free bidding and rarely, if ever, convert those for boots on the ground, Disaster Bids generally pay between $700 – $1500 per bid! That’s right. All of those bids, many of you performed last year in Florida, North and South Carolina as five dollar initial door knock inspections were converted over for the $1500 per bid and additionally resulted in direct contracts to storm victims.