The National Association of Mortgage Field Services (NAMFS) continues its downward spiral as they announced, only hours ago, that their only money making endeavor, other than NAMFS member dues, will go online this year. And knowing that there were going to be problems making money, NAMFS announced that VirBella will be the platform used to lure people into the #FraudFest. NAMFS states that the platform “…utilizes a gaming solution to enhance the experience.” I want to pause right here and discuss how sad NAMFS has become. It would almost be comedic in nature were NAMFS not serious about the quarter of a million dollar experience they are attempting to panhandle from the Mortgage Field Services Industry — see the screenshot from VirBela below. Also, PLEASE view their opening video of how the NAMFS #FraudFest may look like! VirBella reminds me of Sims on a Discord Server. Strike that. The NAMFS #FraudFest is a repeat of how Anonymous closed the pool on Habbo Hotel — Know Your Meme and remember the /b/ on 4Chan, just saying.
And while NAMFS #FraudFest participants will be able to virtually do back flips and high fives, as seen in the video link at VirBela, the reality is that attempting to create a meaningful experience for business level interaction is a lost cause. I mean in a setting where everyone gets to select their virtual wardrobe, toss M18 Red Smoke grenades, and walk a track — presumably for a Team building experience — this is just about as 4Chan as it gets. And while the argument that Game Theory is different than Gamification — Prisoner’s dilemma and all — the reality is that in the hands of NAMFS, they are intertwined. The concept of gamification is applied by building the notion of user engagement and rewards. The problem here is that NAMFS has never been user centric.
Let me explain it in the way that only Foreclosurepedia is capable of doing,
Exhibitors pay tens of thousands of dollars to ply their wares to the public at the NAMFS #FraudFest. Like barkers in a long lost carnival setting, part of their success is dependent upon the ability to use overt and covert human interaction in order to attract and maintain interest. Cognitive ability regarding determines an exhibitor’s capacity to read people and join dots together is fundamental in landing sales. And regardless of the Nash Equation, in a virtual setting, this is next to impossible. Even more concerning will be the inordinate amount of bandwidth required to maintain concurrent connections in a rapidly changing setting.
Moreover, though, do attendees get virtual money — V-Bucks like on Grand Theft Auto — obtained with real money, to buy drinks at the bar? How about pricing for the hotel accommodations — that could get interesting if you score with a chick in a Private Room Conference. And where the world gets very, very interesting is that are the conversations recorded open to the public as this is an event put on by a non profit organization — you know, the back room deals via chat instead of a private room. How about voting for officers and the such? I am going to love seeing how Miller is going to get that one off in a secure setting when the United States cannot even accomplish it. Exhibitors aside, how exactly will those attendees be capable of meaningfully interacting with those giving lectures or speeches? For example, whom gets to ask a question first? Will this be based upon race, gender, or perhaps monetary donation to get to the head of the line?! I mean this is all classic gaming theory which is precisely what NAMFS found necessary to announce. Game theory is often used in many different business practices as a way of making sure that the best possible outcome can be extracted from every transactional situation just like at casinos.
Aside from the fact that NAMFS is teetering on financial insolvency, there can be no doubt that this year’s NAMFS #FraudFest will be a final nail in the coffin. I mean who is going to jump on a computer, for three days straight, simply to support Eric Miller’s obscene salary?!
After a decade of declining membership, tepid revenue, and historically high NAMFS member scandals, the writing appears to be on the wall for NAMFS. In NAMFS tax filings obtained exclusively by Foreclosurepedia, the picture painted of the disparity between Labor and Management is grim. In fact, Eric Miller, the NAMFS Executive Director awarded multiple $10,000 per year raises, has an annual salary which now consumes 99.7% of all NAMFS member dues.
To put into perspective how critical the Annual NAMFS #FraudFest is for bringing in revenue, in the latest NAMFS IRS Tax Return it was reported that $244,150 was brought in for the Conference in both registrations and sponsorships. For that same Fiscal Year, NAMFS collected $120,141 in member dues. Miller’s salary was $119,789 — a salary cut which put him just under 100% consumption of all NAMFS member dues. Not too good at math here, but the NAMFS #FraudFest would appear to be the majority of NAMFS funding. This is based upon a paltry $8,645 obtained for education and $14,627 listed under the spurious designation of All other program service revenue.
In the past, the NAMFS #FraudFest has profited heavily from sponsorships requiring a high touch servicing, in person, such as the Presidential Reception, Business Breakfasts, Network Luncheons, Beverage Breaks, and an entire litany of other high touch money grabs. Moreover, though, the Exhibitors are an enormous pool of contributors to the bottom line. This is the least of NAMFS member’s worries, though. Protecting its own and their profits take priority over the lives of Minority Females and Labor. It is extremely curious how NAMFS, on the one hand, states that for reasons of COVID they will not meet in person and yet its membership, such as Five Brothers, is demanding in person contact in the field. In fact, the NAMFS website states the #FraudFest will be virtual based upon,
Please know this decision was reached with the well-being and safety of our attendees as our top priority.
How then is it that Five Brothers and other NAMFS members are now requiring Labor to make in person contact in the field?! It is quite apparent that the Only Lives That Matter are those of NAMFS and its membership. In fact, since NAMFS was established over 32 years ago, NAMFS has refused to ever have an African American on their Board of Directors. It is simply yet another reinforcement of White Privilege at the expense of all.