SCA: Metro Areas Requiring Higher Pay Even Now

This entry is part 3 of 15 in the series HUD, DoL And SCA

As the San Francisco Fed, which many are labeling ironically data dependent, seems to be ignoring seasonality; as the Atlanta Fed seems not capable of understanding the GDP, the reality is that one thing is for sure: The June Fed Meeting is shaping up to lay the groundwork for bumping interest rates. The fact of the matter is that zero percent on a long term basis, is bad all the way around.

The reality is that the Mortgage Field Services Industry has, for far too long, been run like a flea market as opposed to a business sector entity. Show me the financial statements OF ANY INDUSTRY COMPANY AND I WILL SHOW YOU either a financially insolvent firm or a firm not in compliance with the Service Contract Act, Davis Bacon, the Fair Labor Standards Act and most definitely not meeting bare minimum thresholds to keep people in a modest, one bedroom apartment using the Fair Market Rent Standards. 

The National Association of Mortgage Field Services (NAMFS) and its Members know this or should know if they are getting the market value of the OVER ONE HUNDRED AND TWENTY THOUSAND DOLLARS PER YEAR PAID TO ERIC MILLER, NAMFS EXECUTIVE DIRECTOR, WHICH CONSUMES OVER SEVENTY PERCENT OF ALL MEMBER DUES!

Eric Miller at the NAMFS Fraud Fest 2014 embracing an UNSUB

Eric Miller at the NAMFS Fraud Fest 2014 embracing an UNSUB

The Wall Street Journal is reporting that workers earning the state or federal minimum wage cannot afford a market-rate one-bedroom apartment in any state in the U.S. unless they work 86 hours per week, finds a report from the National Low Income Housing Coalition. The average U.S. hourly wage falls $4 short of the amount needed to work full time and afford a two-bedroom apartment.

A San Francisco household would need to make $39.65 an hour to afford the market rent for a two-bedroom apartment, according to a new report that highlights a wide gap between stagnant incomes and rising rents in many parts of the country.

To put this into perspective, Foreclosurepedia reached out to Nicole Brown, Executive Assistant at the National Low Income Housing Coalition (NLIHC) earlier today with respect to the report that Wall Street Journal reported upon above. Ms Brown was kind enough to demonstrate the wonderful extrapolation of data, in a meaningful fashion, vis-a-vis their Out of Reach 2015 Report they just released. The numbers are stark and the graphics used are far more startling!

Out of Reach 2015 Report From the National Low Income Housing Coalition

Out of Reach 2015 Report From the National Low Income Housing Coalition

When you look at hotspots like Florida, California and the judicially regulated state of New York, there is a requirement of well over $20 per hour to achieve a modest, one bedroom apartment. In fact, it would require a seventy seven hour work week in Flordia at the $8.05 per hour minimum wage, to achieve a MODEST ONE BEDROOM APARTMENT and this is where a tremendous amount of the work is located.

The ill informed are going to argue that this is based upon a Fair Market Rent, working a standard 40 work week without paying more than 30% of their income. I disagree as first, Industry Professionals have markedly different expenses than the general public so it should probably be on TWENTY PERCENT of their income as a baseline. Additionally, this is the accepted ratio used by the US Government, Financial Institutions and even your religious leaders when you sit down to make a budget! 

It is morally reprehensible that NAMFS Members would condone the inability for Labor to even make a living wage let alone simply house their families in light of the recent SEAS LLC felony check writing scams laid out by Robert Kapeluch and Tom Newkirk. We know it has Eric Miller and Adriana Farelo-Fernandez’s backing as each have refused to allow for Ethics Hearings.

In New York where the minimum wage is $8.75 per hour, you would need to work 98 hours per week as an average throughout the state — far more in many areas. California, you ask? 92 hours per week and they have a $9.00 per hour minimum wage! Note that in California the prevailing cubic yard pricing is around $12.

How about Hawaii where I have viewed the horrific emails between Labor and Management demanding Labor to board planes and island hop and store equipment in storage lockers as you cannot transport fueled equipment?

Hawaii’s minimum wage is $7.75 per hour and you would have to work ONE HUNDRED AND TWENTY FIVE HOURS PER WEEK TO RENT A MODEST ONE BEDROOM APARTMENT! Man, there are only 168 hours in a week and that would leave a modest — no pun intended — that would leave 43 hours per week to shit, shower, shave and sleep — six hours per day and remember you are not compensated for the time it takes to upload all of your info or contend against chargebacks!

The next time you get a Rush Order — they are all Rush now as they are on the 48 hour timelines — and they want yet more done for far less, send them a link to this article!

Statistics tell the story. When Foreclosurepedia researches information to make predictions upon, we rely, in part, upon the US Department of Labor‘s (DoL) Bureau of Labor Statistics (BLS).  I am going to caution the novice that unless you have a quantum knowledge of complex mathematics, do not even waste your time attempting to decipher that which I do when I delve into the numbers. I release a large Foreclosurepedia Podcast this evening on the BLS Numbers and Statistics which show nearly twenty thousand people entering into the Mortgage Field Services Industry since 2010. It is based upon the North American Industry Classification System (NAICS) used by the System for Award Management (SAM) known as 561720. The reality is that 561720 is a glamorous Janitorial Services Classification. Granted, at the General Services Administration (GSA) level, the granular refinement is far greater at the 03FAC 811002 level, the reality is that few, if any Members of Labor perform services on GSA Contracts.

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