We are receiving unconfirmed reports that Asset Management Services (AMSREO), recently purchased by the Concentric Equity Group, laid off almost their entire Vendor Management Department. This, on the heels of an update to their Vorticity System which is considered un user friendly at best. Many will remember that we documented the Website was half baked and open to even the most novice of hacking attempts.
We are going to follow up on this tomorrow and keep everyone posted. AMSREO is a Member of the National Association of Mortgage Field Services and has, to date, remained largely off our radar. Perhaps, if this pans out, we are seeing what is up and coming for Field Asset Services. We are going to follow up with the PA Department of Labor to verify that they filed WARN Act Notifications.
I predicted issues like these across the board. If Contractors think it is a good sign I have some Work Orders to farm to you that pay in 2019!