The profile of National Field Network, in its final death spiral, is looking much like that of GIS Field Services today. In fact, Housing and Urban Development (HUD), Fannie Mae, and Freddie Mac are all in the loop now as the potential antitrust actions of Littlejohn and Co. come more and more into focus. And the radio silence and deletion of website pages and social media profiles by Jonathan Dedman Dietz as well as Chestnut Hill Partners make apparent the fact it is a story that they all want to go away. Nothing to see here folks just keep moving along as we buy and sell your Contractor information. And if it was only that; if the only thing going on was the sale of NAMFS Executive Director Eric Miller’s bullshit Aspen Grove — now ShieldHub — Contractor info was the only issue, there wouldn’t be such uproar. Alas, it is far more nefarious than that. If this was simply another Robert Kapeluch SEAS, it wouldn’t be that big of an issue. And if this was simply any one of the hundreds of thousands of fraudulent chargebacks over the past decade, hell, people would probably let it slide.
This was an assault on the very heart of NAMFS itself. Miller had rolled out the red carpet for Dietz, just like with NAMFS President Matt Zoldowski and Verisk, and Anointed him a NAMFS Board Member. With promises of vast amounts of wealth to come — no other reason you end up on the NAMFS Board keeping it real here — young master Dietz took all of them for a ride. It was like the blind shaking their tin can for alms in front of the church as all of them lined up on their hands and knees only to get pissed on by Dietz himself. And adding salt and vinegar to the rub burns the NAMFS Board received, Dietz even charged for the public abuse rendered. It was a lesson in Industry 101.
The bigger problem here is that the NAMFS Board cannot even clean up their own mess. In fact, if you want to find companies that potentially will sell or go under next year, take a snapshot of the NAMFS Board today. This isn’t said with spite or malice, this is a simple and salient point-of-view. When you have NAMFS Board members losing hundreds of thousands of combined dollars per month as a direct result of one of their own, objectivity goes out the window. And more on point, when you have multiple NAMFS Board members demanding Dietz’s removal and Miller sits on his hands licking up the last scraps at the Board potluck — yeah, no more Ruth’s Chris meals for them today — having to call in the calvary of the opposing Team is never a good idea because no one knows where the story begins or ends.
Look, I have been content to focus on Education and organizing lately. Foreclosurepedia had been on autopilot for months. It was greed, pure and simple, that forced the NAMFS Board to reach out. And if this had no ramifications upon Labor, I would have let dead dogs lie. I would have let the whole damn mess burn itself to the ground and given no more thought to it than I do passing salt at the dinner table. But NAMFS, once again, found a way to blow up the Industry making even the #Banksters jealous in their sheer ability to commit fuckery in the first degree! These one track mind imbeciles; how these people ever even figured out how to form a corporation, it is all mind boggling.
I’ll tell you this, in all due candor. The GIS Field Services mess is one for the history books. It is serious in that the antitrust implications make Verisk look like preschool. It is the text book definition of Clayton Act violations. I mean buying a company to land the US government contracts and then buying another company to raid that company of its Labor and then, in turn stomping out competition and dropping the price by 75 percent of the market rate? Fuck, it is a shitshow of #Epic proportions. And had this been feudal Japan, each and all on the NAMFS Board would have been lining up for a round of Seppuku — 切腹. There are no 47 Ronin here, amigo. There are no winners. And as at each and every juncture Littlejohn and Chestnut Hill have had their ability to opine, it would appear that the Emperor Who Wears No Clothes is alive and well.
The hallmark of the foundation of sand which this ill fated adventure of Captain Fucktardia plays out, once more in front of the American Public, is the deafening silence which speaks volumes. That silence was shattered beginning Thursday and Friday. National Field Representatives (NFR), a larger player based out of the Northeast, decided enough was enough. Circling the wagons, NFR decided not to wait for yet another Involuntary Bankruptcy or Antitrust case to make its way to their doorstep and began pulling the plug on the pig with lipstick. It was a fricassee to behold except instead of a white sauce it was served up with cancellation notices to GIS Field Services. And the word on the bricks is that MCS is curled up in a ball, in that safe space they run to, much like when the AMS sale went south on them. Why, you might ask? Well, in the way of their same ill fated and saran wrapped packing deal to buy up Asset Management Specialists (AMS), they know the fix is in — sans the styrofoam peanuts that break the fall with a golden parachute.
Déjà vu. MCS bought AMS banking on the fact that the HUD M&M FSM contracts would come along for the ride. It was en vogue, back then, for the post conveyance Awardee to clean up the pre conveyance partner’s mess. It was a circular door where you held the M&M FSM while your pal held the FHA/GSE contracts and then, vice versa, for years. This time, though, the paper deal sold to Littlejohn is turning out to be a mess they cannot eject like Concentric Equity Group and TDR Capital did, some years ago. And you know what, with volumes so low now — looking much like a drunken a Caribbean limbo party — the reality is that the Mortgagee Compliance Manager (MCM), along with their counterparties, have time to drill down on fraud, waste, and abuse.
We are going to pick this up on a lengthy Foreclosurepedia Industry Insider podcast, later today. And we predict a swift reaction to these events by other Prime Vendors whom do not relish the same type of investigations that are certainly developing against GIS Field Services and their associates. Feel free to reach out direct if you would like to discuss the matter as we protect our Sources and as always, your kind Donations help keep our operations afloat!
