At a time when grocery prices are up 26% and fast food meals are up a whopping 33%, firms like GIS Field Services have lowered pricing on inspections. GIS Field Services, owned by Mortgage Contracting Services (MCS) parent company, Littlejohn & Co., have recently been taking over the Five Brothers portfolio. As many recall, Foreclosurepedia reported upon MCS purchasing Five Brothers making it the largest conglomeration of industry firm purchases and ensuring an anti-trust investigation. MCS, using GIS Field Services as the tip of the spear, have been offering $5.90 inspections throughout their network down more than a dollar from pre-existing inspection pricing.
The amalgamation of companies through purchasing, in order to drive pricing down and reduce options for work, is the quintessential definition of anti-trust. And when the nexus involves the command and control of all these entities by Littlejohn & Co. One would have thought that at some point in time they would have realized the peril their licensing was being placed in.
Littlejohn’s rationale will be that they do no involve themselves in the day-to-day operations. DoJ and FTC’s position will be that regardless of what Littlejohn’s knowledge was, they played advisory roles in the purchasing and directly reaped the profits. Clearly, GIS Field Services is lacking Labor willing to perform inspections which pay less than they did 30+ years ago. A testament to this is the attempt by Cindy Lee to infiltrate my LinkedIn Group with well over 6,000+ members, as seen below.
The reality is that Labor is done working with National Association of Mortgage Field Services (NAMFS) members whom GIS Field Services is one. Ran by Jonathan Dedman Dietz, GIS Field Services is Public Enemy Number One when it comes to Labor. Ever since Dietz failed attempt to take control of the NAMFS Board at the last NAMFS Leadership Summit, the enmity between the Board and Dietz has been palpable. Fact of the matter is that Labor, once again, is the patsy in a war between conspiracy and greed. The reality, though, is that it will only get worse unless and until a formal anti-trust case is is filed against GIS Field Services and Verisk, who controls all property preservation software, inspections aside.
