Home#ForeclosurepediaNationSpectrum Solutions Gets Hit During Silicon Valley Bank Collapse

Spectrum Solutions Gets Hit During Silicon Valley Bank Collapse

The Dog Ate Your Check Excuse

It is the age old story of pushing off problems on Labor’s shoulders. Spectrum Solutions just sent out the below email stating that because Silicon Valley Bank collapsed, they couldn’t pay, but don’t worry, they would get that money out just as soon as the FDIC cleared it. Look, it demonstrates two things about National Association of Mortgage Field Services (NAMFS) members: 1) They will place all of their losses on your shoulders; and 2) You will never share in any of the profits. Additionally, Spectrum has refused to increase the pay on Fannie Mae inspections which was increased last week!

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Before You Go ...

Foreclosurepedia exists because readers, workers, and advocates understand that protecting Labor in the mortgage field services industry requires independence, persistence, and resources. We do not answer to servicers, hedge funds, or corporate trade groups; our accountability is to the Field Service Technicians, Inspectors and administrative personnel whose livelihoods are too often treated as expendable. Donations are what allow us to investigate quietly buried contract changes, expose abusive labor practices, and publish work that would otherwise never see the light of day. Every contribution helps keep our reporting free from industry pressure and focused squarely on defending labor standards, fair pay, and basic dignity in the foreclosure ecosystem. If you believe this work matters, your support is not symbolic—it is the reason Foreclosurepedia can continue to stand between Labor and a system that routinely exploits it.

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