Volumes equate to higher profit. The US Department of Housing and Urban Development (HUD) adjusts bids. Chargebacks are legal. These are all lies in which National Association of Mortgage Field Services (NAMFS) members reap in enormous profits and ensure that Labor remains on welfare. In fact, the way in which the Mortgage Field Services Industry has operated, with respect to the above and outright fraud, has been a textbook case in which a first year prosecutor could land criminal convictions without ever showing up in court. Oversight in the Industry is idiosyncratic, at best. Each prime vendor — a firm with direct contracts with the US government, financial institutions, or government sponsored entities (GSE) — has set into motion documents and formulas which ensure that Field Service Technicians are not paid for the services that they render. And yet NAMFS members continue the churn the bullshit.
It isn’t all NAMFS member’s fault. Their fearless leader, Eric Miller, has blue skied the Industry for years. Miller, the Executive Director of NAMFS, is paid over ONE HUNDRED AND TWENTY THOUSAND DOLLARS PER YEAR. Miller’s salary eclipses nearly EIGHTY PERCENT of all NAMFS Member dues. And now that Miller and the NAMFS Board have elected to violate federal law by refusing to turn over their non profit tax returns — the only document which has forced transparency — many are asking if NAMFS is even a legal organization anymore.
I bullshit you not! SGP got their claws into Think Realty using yet another SGP company called — and wait you will LOVE the name — SGP Now. I mean you cannot make this shit up.
Every group on earth have their pundits. And the Mortgage Field Services Industry is no different. For years, the Industry has been able to successfully flood the Industry with the message that they are the only game in town. The pundits whom parrot the party line have always been order mills pumping out their shit. And until recently, that echo chamber has been sufficient enough to overpower the human instinct that something was wrong. And for years, the Industry pundits have rolled out the misguided belief that there are actually independent contractors in the preservation sector. In California, Georgia, and Massachusetts, multi-million dollar settlements have disproven their lies. And more recently, litigation in Texas, by a class of Inspectors, identical to those in Georgia, are driving home the fact that the House of Cards Miller built is collapsing.
Many Contractors have simply left preservation. In fact, the ability to even find credible firms to perform boots on the ground operations is rare. And dozens more NAMFS members have closed their doors.
Where are they going? Glad you asked! More and more legitimate firms are starting to hang their hat with rehab and restoration operations and performing services upon hedge fund owned assets. First, you know you are going to get paid. And second, the waiting for 60+ days for pay, at firms like Guardian Asset Management and others, is non existent.
If you are tired of the rat race and are in Maine, Maryland, Massachusetts, Missouri, New Jersey, and Pennsylvania, why not take the time to fill out the below info and get on track to make real money this New Year?! Firms are giving material draws and paying two weeks after Realtor walk through with Contractor.