As if the Mortgage Field Industry didn’t have enough to worry about, The Mile High City is bringing Going Green into Full Focus. Denver, Colorado, has recently enacted one of the more well known cases of Medical Marijuana Licensing bringing it into full view on their City Government Website.
In an Industry wherein felons are employed both at the Prime Vendor Level; those whom send Work Order into the Field and Contractors themselves, the question becomes whether or not the Mortgage Field Services Industry is ever going to be able to comply with its current Regulatory Requirements let alone the new ones on the horizon.
Many on here are familiar with my description of a good portion of the current Industry Contractors today: Death grip on a pipe with a 40 between the legs driving a Hatchback Pinto and the electrical cord to the lawn mower dragging along side. That description is a
reality today and this comes from a former Contractor which I was. The question that presents is what is the Industry doing to keep up with Regulatory Compliance?
National Association of Mortgage Field Services (NAMFS) aside, what are the Real Players doing? NAMFS is well and good for the hand pressing and occasional tweet, but the reality is that NAMFS hasn’t publicly engaged Contractors ever. Here is an Irony: NAMFS has an Internal Document from March, 2012 (See Below), which discusses many of the same items I have spoken about on Foreclosurepedia.
I digress. So, while the Industry is still arguing about whether or not they need to pay Contractors and if they do, in fact, have a legal right to pass through the price of Background Checks done by Wells Fargo friends such as Aspen Grove at $300 or so a pop, what is the Industry’s position on loading up on some reefer and then performing a Service?
Here is the dilemma: If it is legal and has a prescription, is it allowed? Next, how much is allowed; I mean is there a Reefer Meter you administer and take a photo of?! Next, can you toke on site? While many of you may think I am being facetious, the reality is that each and every day the Mortgage Field Services has Work Orders being performed in 21 States and the District of Columbia where Marijuana is legal in some form or fashion!
Here is a no brainer for a recently graduated lawyer/ambulance chaser: The Information provided IN RE: This Pending Foreclosure is both illegal and unconstitutional because not only was the Servicer of the Mortgage hiring Staff whom smoked the reefer, but the Contractors whom provided all the Information were high as well — did I forget to mention they DID INHALE?!
Many argue against Regulation in the Mortgage Field Services Industry. I am not one of them. Why? First, there is no meaningful participation from ALL PARTIES with respect to Industry Issues. NAMFS seems to be doing a pretty good job of identifying issues; however, they do their best to keep the information buried. Even if it wasn’t buried, all that is presented is an advisory perspective.
If NAMFS were to include Contractors, the actual Boots on the Ground folks whom do the work, in their dialogue, they might find the ability to formulate legislative agendas. Today, though, NAMFS does not stand a chance and the Financial Institutions and Government Sponsored Enterprises know that. Without a marriage between Labor and Management, Wall Street maintains a stranglehold upon the Industry.
We have already Consulted to several Firms in both California and the District of Columbia upon this tightrope of Government Compliance. If you are farming out work, it is something you had better wrap your mind around. In theory, you hold more liability than the person holding the pipe!