US Bank recently canned all of their contract holders in favor of Matt Martin Real Estate Management (MMREM), now known as Chronos Solutions (Chronos). Love him or hate him, Martin brought to the table three, key elements which the Mortgage Field Services Industry require: Field Service Operations, both Preservation and Rehab; Real Estate Acquisition and Sales; and Data Mining. In totality, I refer to this as C2G or Cradle-to-Grave.
One of the heavy losses in the US Bank portfolio transfer was Loan Resolution Corporation (LRC). LRC, for years, had made its money upon the back of US Bank by simply holding an asset far longer than was necessary. In fact, towards the end, Liberty’s only meaningful insulation from financial insolvency was milking the portfolio.
LRC is currently reported as permanently closed by Google. A call placed to their Scottsdale, Arizona, corporate headquarters was answered by a generic males’s voice stating, “You have reached our corporate office. No one is available to take your call.” Fact of the matter is that LRC is simply yet another example of what Foreclosurepedia predicted nearly two years ago to the day. And for those of you whom are cheering over LRCs demise, let me lay it out for you as to why you should be extremely concerned.
As a former employee, I can say this is one of the worst companies, not only to work for, but also to get service from. The CEO Doug and COO Travis are completely disconnected from how their company actually works, often making strict changes that end up hurting the employee’s chance of handling the customers file efficiently, and in turn gives customers the run-a-round, delays, and in many cases causing customers to restart the process. They are horribly unorganized often promoting unqualified employees and causing even more problems in different department. They are more concerned about how many files they can get from from BOA, not how they can better handle the files for a quick and efficient process. DO NOT work for this company and absolutely DO NOT call these people for help, you won’t get it, and believe me the guys upstairs don’t care about you one bit.
The insidious culture of Wells Fargo is finally being exposed. The problem is that those whom should have been policing the bastards were asleep at the helm — the Consumer Financial Protection Bureau (CFPB). The true story of the reporting upon the 2 million ghost accounts opened up by the recently departed 5,000+ Wells Fargo employees was done by the Los Angles Times back in December, 2013. For years, Wells Fargo has been cooking up different pots of shit. Here, a verified Redditor, relates his experience,
Worked in Wells Fargo retail banking for a few years, at a few branches, and saw all the crap they got in trouble for happen first hand. People threatened with termination over bad ‘numbers’, managers turning a blind eye to missing client info, all of the above. So yes, all that happened.
Be happy to show a mod a pic of me at a branch, of a screencap of my w2 if they contact me. Here is a partial:http://imgur.com/a/wKRrJ And heres one of those stupid fucking ponies in the small size they give to employees:http://imgur.com/a/lHCJg http://imgur.com/a/tilAA
So, fun thing that someone jogged my memory on; WF has all these different numbers employees have to hit. (retail bankers, who are the core of this whole issue) They were called ‘Solutions, Proxy, Loan Units, Loan Dollars, and Partners’. So partners is like mortgage people, or student loans, stuff that fell outside the purview of the normal folks, loan stuff is self explanatory… but solutions.. that was because the Kool-Aid is that each product solves a need and is thus a solution. Proxy was previously called profit (each product is assigned a dollar amount, as some products make the bank more money), but they changed that when customers overheard employees talking about what profit they needed and how to squeeze more out of a customer.
They also used to have contests on ‘cross-sell’ so basically how much superfluous shit you could get a customer to sign up for, or as in many cases, they never actually signed for.
Edit: another thing I forgot about is some of the problems the sales tactics created. A few years back sales credit was granted for new debit cards. So there would be people coming in frequently with new cards they never ordered. Cards would also be shipped to the branch. What could possibly be a security issue with having 5 cards floating out there for one account.
Online banking was also rife with abuse, bankers would sign people up with bogus emails and made up passwords, so if they ever did want to sign up it was considerably more difficult.
Look, it has been felonious business as usual for years with these folks. Wells Fargo has lead the charge to ensure that everyone but they pick up the tab — and do the time. And this is why Eric Miller, the Executive Director of the National Association of Mortgage Field Services (NAMFS) tows the party line — Fuck Minorities and most especially Labor! Miller was directly responsible for bringing onboard the Jim Taylor Doctrine. Taylor, Wells Fargo’s Mortgage Hatchet Man, rammed the Aspen Grove Solutions background checks down the throats of NAMFS and the Mortgage Field Services Industry, as a whole. With a ten time markup over the same background checks provided to separate demographics, Taylor and Miller are raking in millions of dollars per year.
It should come as no surprise that Miller has always been willing to rape Minorities and Labor. Miller’s annual salary is twice that of the national average for a non profit association. His well over One Hundred and Twenty Thousand Dollar per year unjust enrichment consumes over seventy percent of all NAMFS Member dues.
The Leader in screwing Minorities, though; the true, undisputed heavyweight champion of all the time fuckery, are the Jewish Mafia out of Valley View, OH. Safeguard Properties (SGP), has been raping people since the turn of the century. As goes with virtually all NAMFS Offender Members, SGP is all white and all things #Fraud. SGP has committed more atrocities against humanity, with respect to fraud, than Hitler, Pol Pot and Stalin combined. In fact, the misguided belief that there are Contractors in this Industry; the false belief that anyone is a W9 Independent Contractor, was done away with when SGP issued out this Memo last week,
Estimate/Repairs Scope Assessments and Bid Disputes: I have attached 2 different documents regarding this topic, please read these over and ensure you understand the procedure. The Estimate and Repairs Orders and Scope Assessments Doc is strictly regarding ERD and the Bid Disputes Flow PDF is for P&P. As I stated earlier vendors who are not using this process properly will be replaced per the directive of executive management. Please follow all pricing guidelines and do not bid excessively. Additionally you cannot push back and dispute a work order just because you don’t like the pricing- there will be some orders you will break even with or even take a loss but unfortunately the pricing is what it is and it will not be altered. This is being monitored and watched, we will recruit and replace vendors who are placing fraudulent or frivolous bids as well as any vendors unjustly disputing scopes and pricing.
MISCNB: The only time MISCNB’s should be disputed in P&P is if there was a true error on our end and you are not at fault. I am seeing entirely too many MISCNB work orders sitting until they receive a response from the MISCNB inbox and this is NOT the correct procedure! Regardless of if you are at fault or not the client needs the work completed. Once the dispute has been submitted work still is expected to be completed in a timely manner. If you are not at fault the adjustments will be made here on the back end. Any vendors who do not follow this procedures and let the work orders sit will be reassigned and charged back. Again, please don’t let this be your company and follow the correct procedure!
While Eric Miller and his Small Penis Posse where playing grab ass down in Texas at the NAMFS #FraudFest 2016, they demonstrated how a Rubik’s Qubein can undo democracy itself simply by turning failure to pay Minority Females into a Compliance issue. The unsettling reality is that there has become a perception that NAMFS is not simply a bunch of overweight, closet handjob artists. Many, myself included, believe that the guiding force behind their fraud is organized crime. In fact, we discuss this very issue on tomorrow’s Foreclosurepedia Podcast which also digs into the very questionable permeation of Russian Nationals whom have access to the very core of Fannie Mae accounting and data systems. We sit down and introduce you to firms like World APP, a technology provider to both the public and private sector, whose personnel read like a Who’s Who of the Russian Federation. If you believe that people like Aaron McKeehan are out there using data to build up and better asssit Labor, I recommend you request a copy of his ISTAR dossier we maintain.
The Federal Housing Finance Agency (FHFA) relies extensively on computerized systems to carry out its mission to provide effective supervision, regulation, and housing mission oversight of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the federal home loan banks.
Folks, if you think the centralization of data on Contractors and the Industry is happenstance, you have another thing coming! You do not want to miss this explosive Foreclosurepedia Podcast tomorrow!