As the National Association of Mortgage Field Services (NAMFS) tees up for their next round of chargebacks, the most pressing concern, to date, has been the inability to find labor to perform the services. That lack of labor has translated into a multi-level problem. First, the initial issue is that the work which Prime Vendors are receiving cannot be performed. And that is translating into big problems for NAMFS as they stated with the price hikes from Fannie Mae, Freddie Mac, and HUD it would be smooth sailing for the GSE’s and the US government. Nothing could be further from the case. In recently viewed material, the state of the Fannie Mae contracts for both Brookstone Management as well as ZVN Properties looks like a stoner’s report card from the 70’s. In the case of Brookstone Management, they took over from Assero and continue to refuse to assist in the repayment of nearly One Million Dollars owed to Labor. Assero is owned and operated by Fast Eddie San Roman whose 24 Asset Management was recently a HUD M&M FSM Awardee with contracts valued at over $80 Million dollars.
It is not simply the Boots on the Ground who are upset about pay. A recent poll amongst administrative employees working with Prime Vendors, including upon the HUD M&M FSM contract, stated that pay was the biggest reasons they were changing jobs this year. And while virtually all Prime Vendors work with artificial intelligence (AI) when it comes to their offshore processing, the 72% of those polled who stated that they were leaving should give the Industry pause.
It is not simply the pay — or refusal to pay when it comes to Assero and 24 Asset Management — but also the actual working conditions. Customer service, only for Clients, is out in 2024. In fact, it is part of the reason why Foreclosurepedia began moving out of the Industry space and into US government contracting. Our largest concern has been the anticipated use of illegal aliens in this Industry. And if you think it has been bad since all Prime Vendors received their hundreds of millions of dollars in pay raises from Fannie Mae, Freddie Mac, and HUD simply wait a couple more weeks after the freeze breaks. When the preservation work orders begin to kick into high gear there is no way in hell Labor is going to perform $35 grass cuts offered knowing that Freddie Mac is paying $525.
In a Presidential election year, the reality is that there will be a clean sweep of Bidenomics and the Border will be secured. The days of HUD Secretary Marcia Fudge are over and her pet HUD Acting Deputy Chief Procurement officer Craig Karnes will simply be yet another stain upon the history of this Industry. The stonewalling of the use of HUD forms for training contractors and outright refusal to answer Freedom of Information Act (FOIA) is simply yet another coordinated Biden Administration assault upon democracy.
In closing, I anticipate NAMFS to hide behind Diversity, Equity, and Inclusion (DEI) when it comes to onboarding illegal aliens. More power to them. The reality is that I make more money in a day programming and writing grants with nonprofits over at Digital Matrix Group than I do in a year writing on Foreclosurepedia. And when you want the list of people responsible for ensuring that pay raises have not been forthcoming in over 30+ years, go no further than the NAMFS Board of Directors as seen below.
