The National Association of Mortgage Field Services (NAMFS) is at a crossroads. With Membership at all time lows and with a recalcitrant Executive Director, Eric Miller, whom is against all change, its latest casualty, Altisource, is showing how technology based on the 20th Century negatively impacts the financial bottom line. With respect to Altisource, the fact of the matter is that their CEO Bill Shepro, has always been connected at the hip to Ocwen. And while Ocwen has begun to move into the 21st Century, Shepro and his staff including Patricia E McTaggart, have been unable to grasp the concept of Business the American Way. HousingWire put it this way,
The investigation delved into the REALServicing platform and other services that Altisource provided to Ocwen. Ocwen’s use of the REALServicing platform was also at the center of the regulatory actions taken against Ocwen last year by more than 30 states and the CFPB.
The CFPB, in its lawsuit against Ocwen, claimed that REALServicing, the system Ocwen used to process and apply borrower payments, communicate payment information to borrowers, and maintain loan balance information, was riddled with errors and technologically deficient.
Over the last several months, Ocwen has reached settlements with nearly all of the states that brought regulatory action, and each of those settlements stipulated that Ocwen develop a plan to move away from REALServicing.
So, what was the fix for Ocwen sans the Settlements with more than 30 states? Simple, really. Move to Black Knight. In fact, here is how Altisource quietly revealed the action in the mountains of paperwork they buried the below paragraph,
Additionally, Ocwen has notified us, disclosed in its filings and stated in connection with resolving several state administrative actions discussed above, that it plans to transition from REALServicing to another mortgage servicing software platform. — Altisource Filing with the Securities and Exchange Commission.
Look, Altisource’s technological armageddon isn’t just impacting servicers leaving the fold. Just days ago, their entire work order processing and payroll systems collapsed for nearly a solid week,
Property Preservation Wizard (PPW), the backbone of most mobile operations within the Mortgage Field Services Industry, has constant collapse of their system, if only for a brief period of time based upon 504 Gateway errors. And the reality is that there are no viable competitors due, in no small part, to the strangulation of competition by Miller’s influence within NAMFS and the Industry as a whole. When we look at the actual Prime Vendors whom are responsible for moving work orders from the servicers to those acting upon them, those systems have prolific and catastrophic collapses on a regular basis.
Safeguard Properties (SGP) is an interesting case-in-point. Their system is ancient and continuously collapsing when we look at the work order lifecycle. From a data collection point-of-view, though, SGP has their fingers into more datasets than Carter has liver pills.
And it is not simply the workflow in which servicers are concerned about. The security of the data, itself, is on everyone’s mind. There is not a single NAMFS member’s system which could not be compromised with a six pack of beer in half an hour timeframe. SGP exposed billions of files to the world and even after Foreclosurepedia advised them, they refused to fix the problem which is why we reported upon the issue. NAMFS Board Member, Michael Evangelo, whom owns National Mortgage Field Services (NMFS), exposed his entire contractor network along with the Prime Vendors whom rely upon Evangelo for inspections including US Department of Housing and Urban Development (HUD) Awardee PK Management.
The storage of images of women and infants is what many were concerned with on Michael Evangelo’s servers. Instead of correcting the problem, Evangelo was congratulated by Miller and NAMFS and told to simply correct the access issue — no one ever required the removal of the photos.
Today, NAMFS is known for pedophilia with respect to Mickey Snow. Foreclosurepedia ran a Series on Snow documenting the alleged raping of underaged girls using Industry funds. Snow was charged with multiple offenses including patronizing a minor prostitute, promoting prostitution, advancing prostitution, statutory rape, statutory sex offense and indecent liberties with a minor. The mother of those girls, Teresa Vanover, resided in apartments within the Snow Enterprises facility in Eden, North Carolina. And yet many firms continued to use both Snow Enterprises as well as his wife’s firm, Tongsua Management. Initially, PK Management refused to dismiss Somporn Tongsua Hewitt, Snow’s wife. ASONS former founder and owner now employed by Northsight Management, Milan Thompson, has long supported Snow and his activities.
Eden, NC Properties Owned By Mickey Snow and Somporn Tongsua Hewitt
698 Linden St., a strip mall owned by Mickey, Russell and Katrina Snow: $709,010.
115 Chestnut St., a house and land owned by Snow Enterprise: $461,883.
204 W. Harris Place, a house owned by Russell Snow: $263,202.
318 Bearslide Court, a house owned by Mickey Snow and Somporn Tongsua Hewitt: $183,910.
321 and 323 Moir St., two houses owned by Snow Enterprise: $63,327.
123 The Boulevard, a small apartment building owned by Snow Enterprise: $58,926.
805 Carrington Lane, a house owned by Russell Snow: $56,435.
1236 Forest Road, a house owned by Snow Enterprise: $47,163.
509 Fieldcrest Road, a house owned by Snow Enterprise: $41,724.
810 Church St., a house owned by Snow Enterprise: $36,780.
422 Lake St., a house owned by Snow Enterprise: $21,482.
415 Glenn St., a house owned by Snow Enterprise: $20,652.
Building in Ormond Beach, Florida, owned by Snow Enterprise, houses Honest-1 Auto Repair: $858,024.
Building in Holly Hill, Florida, owned by Snow Enterprises Southeast, houses BSI Racing: $564,764.
Houses and land on three lots in rural section of Ormond Beach, owned by a combination of Mickey Snow, Russell Snow and Snow Enterprises Southeast: $520,818.
House with ocean view in Ormond Beach, owned by Snow Enterprises Southeast: $329,072.
Office building in Ormond Beach, headquarters of Snow Enterprises: $310,009.
A house near the ocean in Ormond Beach, owned by Mickey Snow and Somporn Tongsua Hewitt: $215,843.
Condo on the Intercoastal Waterway in Southport, N.C., owned by Mickey Snow and Russ Snow: $187,750.
House in Ormond Beach, owned by Mickey Snow and Russell Snow: $176,006.
House in Holly Hill, owned by Snow Enterprise: $85,093.
House in Shively, the Kentucky headquarters of Snow Enterprises: $74,130.
House in Daytona Beach, owned by Snow Enterprise: $47,163
TOTAL PROPERTY USED AS COLLATERAL FOR BOND: $5,333,166
Other properties across the Southeast owned by some combination of Mickey, Katrina and Russell Snow; Somporn Hewitt; or their businesses
13 houses and four small lots in Eden: $655,890.
A house on Smith Mountain Lake in Moneta, Virginia, and an adjoining lot: $641,100.
Four houses in Florida: $331,821.
A second condo on the Intercoastal Waterway in Southport with a boatslip: $275,900.
An office/showroom in Holly Hill, Florida: $218,346.
A house in Roanoke, Virginia: $178,200.
A house in Madison: $81,612.
A house and land in Ridgeway, Virginia: $66,800.
When Foreclosurepedia began to lay the framework out of a corrupt District Attorney, charges were eventually filed against Craig Blitzer whom took a plea bargain and was removed from office. Blitzer additionally had his law license suspended. The new case against Snow is now before a panel of the North Carolina Conference of District Attorneys.
A simple performance of financial due diligence which is required by both financial institutions and the US government would have revealed the incestuous connections which NAMFS members have. The problem is that firms like Fannie Mae abhor obeying the law as we are now seeing in the Involuntary Bankruptcy surrounding National Field Network and Ken Carroll, their lawyer.
As we will release in our next article, the reality is that the key to all of the corruption is the National Association of Mortgage Field Services. The maestro is Eric Miller. Miller oversees an enormous network of rapists, bankrupt firms illegally reentering the Industry like Heather Berghorst now financing Great Lakes Property Preservation now ran by the wife under a new name of West Michigan Field Services, and overall thugs. These firms have defrauded innocent Minority Females and Labor to the tune of tens of millions of dollars. With respect to the US Taxpayer, this amount is in the hundreds of millions of dollars.