The Mortgage Field Services Industry Gamble

Last year, PBS ran a piece called The Retirement Gamble on Frontline which broke down some pretty frightening and completely unethical scenarios which are playing out in Modern Amerika today. Yes, that is Amerika spelled with a K. The reality is that the financial sector is no different in how it fucks people than the Mortgage Field Services Industry is in allowing the #Fraudsters to continue to rape innocent men and women and roll out their financial terrorism under the banner of the National Association of Mortgage Field Services (NAMFS).

If you work for 50 years and receive the typical long-term return of 7 percent on your 401(k) plan and your fees are 2 percent, almost two-thirds of your account will go to Wall Street.

Today, there is not a tremendous amount of difference between the Financial Institutions whom facilitated the greatest crime spree in human history nor the NAMFS Members whom pocket the Financial Institutions funds knowing full well that Labor will never be paid for their services. This, in turn, ensures yet another fresh wave of foreclosures; however, its genesis is far more nefarious.

Let me tell you something that each and every Chief Executive Officer (CEO) or President, including the ones I consult to, know full well. Each and all know that by putting in layers of National, Regional and Otherwise Unspecified Order Mills between they and Labor, they will never become liable not just for the financial crimes they are guilty of, but also for the environmental and physiological damage they continue to cause by use of terms such as Discoloration. The human toll, soon to begin popping up on the radar, will be measured in body counts — both by attacks upon the thieves whom defraud Labor and those within Labor and their families whom die from contamination and exposure.

Anyone whom believes that they actually run a business in the Mortgage Field Services Industry is a fucking idiot. Labor is anything but independent. I challenge anyone to present to me a Member of Labor whom is, by legal definition, an Independent Contractor. I will sign over Foreclosurepedia to that Firm tomorrow morning. Dito for any Member of Management for they are merely extensions of the Financial Sector. The difference between those within the Mortgage Field Services Industry and the real world is that the Industry is comprised of a bunch of whining, punk ass bitches. Management declares that the chargebacks are due to the Portfolio Holders and pushes down the bullshit and Labor is the epitome of the kid whom was picked on and had his lunch money stolen in school.

Wall Street on Parade puts it bluntly,

To put it another wayyou work for Wall Street. You are their slave, their lackey and as long as their toadies dominate in Congress, nothing is going to change on the legislative front to stop the looting. Wall Street seized millions of homes through illegal foreclosures and stripped the equity from the owners. They got away with it. Some Wall Street firms further enriched themselves making bets that the housing market would collapse, using their inside knowledge of the bogus loans they had made. They got away with that also. Now Wall Street is busy asset stripping the retirement plans of the working class in America while President Obama proposes to cut Social Security benefits through a discredited calculation called Chained CPI – conveniently causing people to save more in their 401(k) plans to make up for the potential loss.

One hundred years ago, there would have been riots; there would have been bodies piled as high as the Empire State Building. Today? Lay down and lick your nuts, boy. I do not advocate for violence; I advocate for change. Change is a very painful process for those whom are enriched by an unregulated Industry. Look, it isn’t rocket science to understand that the larger the profits are for Management, the slimmer the break even point is for Labor. In the real world, this would be Capitalism; in the Industry and when combined with the calculated fraud by Members of the NAMFS, the reality is that it is pure, unadulterated financial terrorism. In fact, it is my fervent belief that each and every Member of the NAMFS ought to be placed on the Terrorism Watch List.

Has Foreclosurepedia been somewhat effective, if through nothing but terror stricken into the hearts and minds of NAMFS Members, in our No Contractor Left Behind Campaign? Honestly, I do not know. It is a Whack-a-Mole scenario. Never in my life have I experienced the evil I have witnessed in this Industry. Fundamentally, Foreclosurepedia brought the Industry kicking and screaming into the Social Media Age — to this point, there is no argument. Foreclosurepedia has been successful in destroying the Highest Ranking Member of the NAMFS Terrorist Regime ever, Heather Berghorst. Even this, though, gives little solace to those Members of Labor whom were goddamn raped by that bitch. And yes, Heather Berghorst is a fucking bitch for what she has done in my eyes. Her proverbial pimp, Eric Miller, is no better in that he refused to even have her removed as a Member in Good Standing within the NAMFS Terrorist Regime.

Where does it all go from here? I have been fighting what seems to be an endless war for three years now. Make no mistake it has not been for the money as I cannot even pay my own bills any longer. Hundreds of sleepless nights on public transportation while crisscrossing the United States interviewing and consulting to Members of Labor and Management has produced little, if any tangible results. Oh, sure a drop in the bucket of Firms now actually get paid for their services; a few Firms have a better tactical advantage over their competitors, but the reality is that it hasn’t caused an Industry wide impact — yet.

To understand the behind-the-scenes rape, one needs to understand two salient points: One is what a Ponzi Scheme is and the other is Compound Interest. The Ponzi Scheme is fairly easy: Bring Labor onboard to make you money and then refuse to pay them. The Compound Interest scenario is a bit more difficult and I will rely upon Wall Street on Parade to make the analogy,

This is the relevant portion of the transcript from the program

Bogle: Costs are a crucial part of the equation. It doesn’t take a genius to know that the bigger the profit of the management company, the smaller the profit that investors get. The money managers always want more, and that’s natural enough in most businesses, but it’s not right for this business.

Smith: Bogle gave me an example. Assume you’re invested in a fund that is earning a gross annual return of 7 percent. They charge you a 2 percent annual fee. Over 50 years, the difference between your net of 5 percent — the red line — and what you would have made without fees — the green line — is staggering. Bogle says you’ve lost almost two thirds of what you would have had.

Bogle: What happens in the fund business is the magic of compound returns is overwhelmed by the tyranny of compounding costs. It’s a mathematical fact. There’s no getting around it. The fact that we don’t look at it— too bad for us.

Smith: What I have a hard time understanding is that 2 percent fee that I might pay to an actively managed mutual fund is going to really have a great impact on my future retirement savings.

Bogle: Well, you have to rely on somebody to get out a compound interest table and look at the impact over an investment lifetime. Do you really want to invest in a system where you put up 100 percent of the capital, you the mutual fund shareholder, you take 100 percent of the risk and you get 30 percent of the return?

Smith takes Bogle’s advice and pulls up a compounding calculator on his laptop. On air, he shows the viewer the results:

Smith: Take an account with a $100,000 balance and reduce it by 2 percent a year. At the end of 50 years, that 2 percent annual charge would subtract $63,000 from your account, a loss of 63 percent, leaving you with just a little over $36,000.

2015 is the Year of Change. Foreclosurepedia has rarely, if ever, been wrong. Management and Labor, coast-to-coast, have been teaming up and discussing how to better operate outside the grasp of NAMFS. The reality is that the forward momentum is not going to be stopped. Stay tuned as we continue to release relevant information over the next several days on how both Management and Labor may partner together for productive relationships.

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