The National Association of Mortgage Field Services (NAMFS) is constantly attempting to remake itself. And the novelty is that it constantly places its reinvention upon the shoulders of Labor. Never in its twenty some years of raping Minority Members of Labor has NAMFS ever admitted that it nor any of its Membership are culpable for anything. In fact, even when the now disgraced and former NAMFS Secretary Heather Berghorst defrauded over one million dollars; even when Berghorst created a Ponzi Scheme of Companies to hide her and her family’s crimes, NAMFS allowed her to remain not only a NAMFS Offender Member, but publicly supported her continued Board of Directors position as Secretary.
The US Department of Housing and Urban Development (HUD) has long been having issues with the Field Service Manager (FSM) and Asset Manager (AM) Contracts. HUD Atlanta have made great strides, though. While many are complaining, with respect to the fact that the HUD M&M FSM 3.10 is shaping up to be the Battle of the Titans again — First Preston, Cooper Citi-West, Innotion, Alpine, PK Management, ASONS just to name a few — Craig Karnes and his staff have done more in the past few months to ensure a level playing field than in the entire combined history of the FSM Contract.
While many within the Mortgage Field Services Industry concern themselves only with the Field Service component; the accouterments necessary to move the asset to sale, the reality is that a far more powerful legate, the Realtors, have long been disenfranchised.
The concept that NAMFS Members have a Divine Right to defraud Minorities is not dissimilar to how law enforcement has felt with respect to those whom they have murdered standing as both judge and jury. And at the end of the day there is only marginal difference between the financial terrorism which NAMFS Members employ on a daily and #EPIC scale or how law enforcement plays judge and jury as both result in death — the latter simply more rapid than the former.
Now that more and more hacktivist support is growing within the ranks, the reality is that the business as usual is going to be a hell of a lot harder. The parading around; the pretending to be someone whom they are not, have all but ended. Slowly, but surely, we have begun to sort out those whom have built their fragile empires upon sand. The Order Mills are rapidly becoming extinct species. Fact of the matter is that the financial institutions have the assets and the delivery mechanisms to move assets. The Safeguard Properties of the world are no longer needed. The banks are not concerned about liability; the banks are concerned with respect to scalability on Labor’s behalf. And therein lies the rub as the bard would say.
The reality is that today Labor is just that. Business owners, on Labor’s side of the aisle, have no idea how to run a real business. The vast majority of those I have ever encountered keep a death grip upon the belief that duct tape and bailing wire are the two key tools
Suffice it to say that it sounds like HUD is saying, “you guys need to compensate us for these closing extensions that you caused,” and Sage is responding by trying to get the money out of the agents and title companies. Ultimately, the buyers are the ones getting screwed the worst. HUD’s program focuses on owner occupants and first time home buyers, along with civil servants. Many of those people are losing the homes they’ve been waiting for.
When one sits down to calculate the enormity of a cash cow which Sage Acquisitions has capitalized upon to pay HUD the fees which it owes for being unable to perform upon the Contracts, it is a conspiracy which boggles the mind. When HUD realigned the 3P Region to to BLM Resources earlier this month, the truth is that it came with penalties against Sage. Most horrific, though, is the salient fact that the very penalties Sage owes are being converted into the pain which is being exerted upon Minorities and Brokers in former and current Sage Acquisitions Award areas.
What happens is that, due to no fault of prospective home buyers, Realtors or Title Companies, Sage Acquisitions fails to ensure the timely processing of paperwork necessary for the purchase of HUD assets within both the P260, a HUD based database system and hudhomestore.com, HUDs website for bidding upon HUD assets. This should come as no surprise, though, as when one looks down the deep, dark tunnel of racial bias, the reality is that when HUD makes Awards to Minorities, based only upon race, Minorities themselves are the ones hurt.
Here’s how Sage’s hustle works. During the Step process, which is how HUD moves properties into its inventory, Sage has, time and again, been unable to process the paperwork necessary to even get the title information loaded into P260 on many occasions. So, Sage has begun to threaten Brokers and Title Companies with loosing their NAID Numbers if they do not pay extension fees. Even more insidious is the fact that deposit after deposit has been forfeited; percentage points have been raised, due to Sage’s inability to process the paperwork necessary for home buyers to actually purchase these HUD assets.
And at the same time in which the 3P Region has finally spun down the sewer, the Field Service Manager (FSM) Contract is beginning to spin up for bid. Interestingly, HUD has remained mum on why they are prolonging the release of the the M&M FSM 3.10 Performance Work Statement (PWS). It doesn’t appear to be a terminology issue and many wonder whether or not a wait for more certainty on the Election comes into focus may be the end game.
Over the next several weeks we will begin to release the information we have begun to receive. We also begin to discuss PK Management’s new and interesting relationships with their HUD Listings. In the same way in which CWIS is utilizing Laudan to perform upon its assets, we are starting to see a very intricately woven web of Fannie and Freddie portfolios through intermediary cut outs.