Wed Feb 8 18:24:56 EST 2023
Home#TEAMREGIMEThe Involuntary Bankruptcy Of NFN As Its Five Year Anniversary Approaches

The Involuntary Bankruptcy Of NFN As Its Five Year Anniversary Approaches

Three Part Series on the Involuntary Bankruptcy of NFN

A lot has changed in the past five years since Labor rebelled against Management and the National Association of Mortgage Field Services (NAMFS) nearly five years ago. When Foreclosurepedia first broke the story of the wholesale fraud ongoing at National Field Network (NFN) in 2014. Coming on the heels of other NAMFS #Fraudsters such as Berghorst Enterprises, Boyd Property Preservation, Buczek Enterprises, and SEAS — all totaling tens of millions of dollars swindled from Labor and the US government — the reality is that previously only Berghorst Enterprises had filed bankruptcy whereas the rest of the companies simply closed their doors. And a fun fact here is that Heather Berghorst, owner of Berghorst Enterprises, was the NAMFS Secretary and Board Member. It wasn’t the first time and certainly not the last time that a NAMFS member had destroyed the lives of innocent victims.

The reality, though, was the Labor had had enough of the high rolling NAMFS shot callers living it up on Labor’s money. NFN, owned by Safeguard Properties Chief Executive Officer’s brother, Jack Jaffa, was the final straw theft stretching back over a decade.

The true irony here is that the NFN fraud could have been prevented as early as 2014 had both the US government and law enforcement done their jobs. The problem was that at almost every level of interaction between NFN, the US government, government sponsored enterprises (GSE), Regulators — hell, everyone with an angle to profit off of the homeowner and Labor’s plight — there was complicity at the highest levels including at Housing and Urban Development (HUD). Everyone turned blind eyes as NFN’s lawyer, Victor Deutch began a shakedown, of epic proportion, against Labor attempting to force twenty cent on the dollar settlements as the House of Cards collapsed. And to the bitter end, the lies flowed out which forced multiple US government agencies and GSE’s alike to huddle in the dark corridors and financially admit their parts — at least through stroking the checks. There was no question, whatsoever, that Shari Nott, the NFN kingpin, orchestrated one of the most massive schemes ever perpetrated in the Mortgage Field Services Industry, weaponized the scheme like a loaded gun, and targeted Labor across the United States.

During the course of this never ending five year bankruptcy, we have had three Presidents — Obama, Trump and now Biden. The world has witnessed a two year global pandemic due to COVID and a war in the Ukraine orchestrated by Russia. And NAMFS has missed half a decade of legally required nonprofit 990 tax returns.

NFN represented the pinnacle of unbridled financial terrorism. Even National Field Representatives (NFR) admitted that they had no idea how to prove that chargebacks were even legit as a 2017 email to and from Hank Cossingham admits. Granted, Wells Fargo sent “an Excel spreadsheet” demanding money, the reality was that there was no HUD Demand Letter. It was Enron 101. As we continue our deeper dive into the fraud, waste, and abuse perpetrated by NFN and its Leadership, we will culminate this weekend with a Question and Answer session with the current US Trustee assigned to the case. You definitely do not want to miss out!

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