Fraud seems to be back en vogue with Members of the National Association of Mortgage Field Services (NAMFS) Regime. With punch line terms like: mistake, pay when paid and the check is in the mail, I am sure that Eric Miller, NAMFS Regime Commandant, has set aside some time to discuss how to squeeze yet more blood out of the Contractors next month at the NAMFS Regime Fraud Fest 2014 in Orlando. No matter how Miller and his Merry Band of Miscreants attempt to spin what is going on, it is apparent now that these people have no intentions of ever working to ensure that the Mortgage Field Services Industry; that the NAMFS Regime, will ever do anything to protect those whom work in the field.
BillMoyers.com has an excellent infographic which I listed below. It tells the tale of precisely how deeply entrenched the belief is that the blue collar man; how Labor, is expected to foot the bill on behalf of the Banksters and Corporate Oligarchs.
Bank of America runs its business through more than 300 offshore tax-haven subsidiaries. It reported $17.2 billion in accumulated offshore profits in 2012. It would owe $4.3 billion in US taxes if these funds were brought back to the US. Citigroup had $42.6 billion in foreign profits parked offshore in 2012 on which it paid no US taxes. It reported that it would owe $11.5 billion if it brings these funds back to the US. A significant chunk is being held in tax-haven countries. ExxonMobil had a three-year federal income tax rate of just 15 percent. This gave the company a tax subsidy worth $6.2 billion from 2010-2012. It had $43 billion in offshore profits at the end of 2012, on which it paid no US taxes. FedEx made $6 billion over the last three years and didn’t pay a dime in federal income taxes, in part because the tax code subsidized its purchase of new planes. This gave FedEx a huge tax subsidy worth $2.1 billion. General Electric received a tax subsidy of nearly $29 billion over the last 11 years. While dodging paying its fair share of federal income taxes, GE pocketed $21.8 billion in taxpayer-funded contracts from Uncle Sam between 2006 and 2012. Honeywell had profits of $5 billion from 2009 to 2012. Yet it paid only $50 million in federal income taxes for the period. Its tax rate was just 1 percent over the last four years. This gave it a huge tax subsidy worth $1.7 billion. Merck had profits of $13.6 billion and paid $2.5 billion in federal income taxes from 2009 to 2012. While dodging its fair share of federal income taxes, it pocketed $8.7 billion in taxpayer-funded contracts from Uncle Sam between 2006 and 2012. Microsoft saved $4.5 billion in federal income taxes from 2009 to 2011 by transferring profits to a subsidiary in the tax haven of Puerto Rico. It had $60.8 billion in profits stashed offshore in 2012 on which it paid no US taxes. Pfizer paid no US income taxes from 2010 to 2012 while earning $43 billion worldwide. It did this in part by performing accounting acrobatics to shift its US profits offshore. It received $2.2 billion in federal tax refunds. Verizon made $19.3 billion in US pretax profits from 2008 to 2012, yet didn’t pay any federal income taxes during the period. Instead, it got $535 million in tax rebates. Verizon’s effective federal income tax rate was negative 2.8 percent from 2008 to 2012.
Whereas, the aforementioned Corporations have found legal loopholes to dodge that which they owe, NAMFS Regime Members simply defraud as many Contractors as is humanly possible to achieve their goals and in many cases simply file bankruptcy when the rubber meets the road. This is not supposition. When we look at the now disgraced, former NAMFS Regime Secretary Heather Berghorst, we are able to identify precisely how this happened. In fact, it would appear that the only way she was able to achieve her goals was with the assistance of Altisource whom is also a NAMFS Regime Member. I have presented plenty of documentation substantiating the claim so I will not bore the reader with it as they may peruse Foreclosurepedia at their leisure.
The Mortgage Field Service Industry seems to value those whom stick it most to the Contractor. Whether it be the SIX MILLION DOLLARS PLUS that HomeStar was reported to be in debt to Contractors or any of the plethora of examples we have reported upon, both the NAMFS Regime itself and many of the NAMFS Regime Members seem hell bent on insuring that by any means necessary they and they alone will make money at anyone’s expense.
And the drama with Eastern Estates? I mean are the 62 Comments in this LinkedIn thread alone all chocked up to Contractors whom didn’t get it right? On the one hand, Eastern Estates demands that Contractors be bound to them and they alone, yet when those above Eastern Estates starts the Fuck Everyone Machine up, Eastern Estates wants to pass the shit downhill. Yeah, just more of the same old shit different day. It harkens me back to a latin phrase: Quis custodiet ipsos custodes?
Foreclosurepedia has been working in overdrive in assisting Contractors with their filing of Consumer Financial Protection Bureau (CFPB) Complaints against NAMFS Regime Members and Financial Institutions. Whether they are the Holy Grail or not is immaterial. What is material is that they force a compendium of information to be gathered which will both cost offenders money and lay the groundwork for possible indictments. While Altisource and their holier than thou Associate General Counsel spouts off about toning down the rhetoric as he sips mojitos in Luxembourg, the reality is that one way or another the Mortgage Field Services Industry will be drug kicking and screaming into the real world where their nefarious actions receive the sterilizing properties of public opinion.
So, as all the NAMFS Regime Members make their pilgrimage to the NAMFS Fraud Fest 2014 in Orlando to kiss Emperor Miller’s ring and pay their blood money extracted from the Contractors, I sit back and ponder precisely how long it will be until the emails stop and Contractors begin to knock on the Office Doors demanding their money.