Walter Cole, The Cole Team, is a Texas operator with a lot to lose when it comes to National Management and Preservation Services LLC dba National Field Network (NFN). As the right hand man on insurance claims for Tommy Novak, President of ABBA Construction Company based out of Florida, Cole is owed nearly $100,000 by NFN. Not a paltry sum. ABBA Constructions website is listed as NOT SECURE, by Google, and we caution our readers, in advance. George Terebinsky, Garden State Property Services, Inc., is a fellow Plaintiff in the litigation against Shari Nott and Jack Jaffa, both co-owners of NFN. Terebinsky is owed right at a quarter of a million dollars. And both of these men are the ones whom will determine if ANYONE gets a dime before they do. Not conflict of interest or anything, right?! I mean this has been business-as-usual for the past 30 years when it comes to those within the National Association of Mortgage Field Services (NAMFS).
Cole is the Chairman of the Debtor’s Committee presiding over claims submitted in the Involuntary Bankruptcy of NFN. In essence, Cole is the man whom determines whose debt should be examined and precisely what all parties ought to be paid. Cole, in essence, is the gatekeeper to whether or not NFN should pay anyone and what everyone ought to be paid by NFN.
It’s not as if Cole has a deposition from Shari Nott that he and his cronies refuse to share with others that will get everyone paid, right?! Oh, yes, they do!
To understand whether or not Cole is the right man for the job it is generally wisest to evaluate how they actually operate from a business point-of-view. And why? Well, remember, Cole is dealing directly with Shari Nott, co-owner and CEO of NFN. Cole has ABSOLUTE DISCRETION with respect to what he may do as the Debtor’s Committee Chairman and millions of dollars owed to Minority Females and Labor. So, Foreclosurepedia decided to put Cole to the test.
Several weeks ago, Cole reached out to Foreclosurepedia hoping to obtain Contractors with respect to damages in North Carolina after Hurricane Florence. In both emails and recorded conference calls, Foreclosurepedia and other Contractors were pitched on Insurance Scope Work originating from UPC Insurance; flowing through ABBA Construction; and finally through The Cole Team. We were all informed that this work would include roof tarping, debris and tree removal, and mold remediation. We were all informed that — and wait because you will love this part — “…homeowners have checks in their hands.” That is a direct quote. We were also informed that this work would pay forty percent up front; thirty percent at mid point; and thirty percent at completion.
Why were these promises important? It is the work on the front end which provides the money to sustain throughout the process of attempting to get paid. What I mean is that this is front end money and most policyholders are under mortgage. That means that they will NEVER get a check. Oh, they will get a two party check with they and the mortgage holder on it, but those monies are put into an escrow account and will be argued over for the next several years. And anyone whom has done insurance claim work knows that those types of promises are bullshit. We asked to re-verify those questions, multiple times, and the answers were always the same. When we inquired about binding homeowners to contracts and Assignment of Benefits (AoB), these terms were unknown to either Cole or ABBA Construction. And when we did a deeper dive, terms like collection of depreciation were Greek.
Foreclosurepedia proposed that several site surveys happen in order to verify the veracity of the Scopes — not just the pricing, but that work was actually there. We requested no pay; we requested only per diem for expenses.
And that is when the bottom fell out. On the first two — and all that followed — we discovered that all of the roof tarping, debris and tree removal, and mold remediation had been performed. In fact, this is the only thing that allows a normal company to take on the entire scope of disaster work. Another thing that we discovered was that neither ABBA Construction nor UPC Insurance had interacted with policyholders. We passed this on and by Day Three we were informed that Tommy Novak, the recently promoted President of ABBA Construction would meet with us on several job sites.
Novak is the quintessential, corn fed, square jawed Southerite whom you tuck a bible under his arm and launch into an unknown environments gambling that mentioning Jesus is going to fix everything. A college football player in backwater Florida, Novak represents everything that when wrong in Iraq,
White imperialists exporting Christianity from the barrel of a gun
Now, I do not know a whole lot about ABBA Construction. And I had never met Novak nor knew anything of ABBA Construction other than they are attempting to run on the US Department of Housing and Urban Development (HUD) Management and Marketing (M&M) Field Service Manager (FSM) contracts, this year, with ZERO experience. What I do know is that Walter Cole had his issues with them and they were the topic of multiple phone calls. While that made me leary, I had only the word of Walter Cole to rely upon as myself and another associate, a former Asset Manager working with virtually every name in the distressed asset portfolio space, made our way into North Carolina.
Novak’s concerns, as he arrived, appeared to revolve around getting policyholder’s to sign an agreement between the policyholder and ABBA Construction. There was minimal interest in us even after we voiced concerns that everything we were promised was, in fact, spun out of thin air.
Scaling up and learning on the job are both skill sets required to be able to participate in any form of US government contracting. In the instant case, it appears that ABBA Construction was both scaling up and learning on the job. When we met with Novak, we were handed folders with informationals Novak was going to present and wanted us to present, after the fact. It was not as if we were not being paid for a damn thing. It was not as if this was the clinical definition of a shitshow and now we were being required to land work for ABBA Construction and not allowed to have any contractual relationship for privity with they or the scopes. It was the typical white boy mentality that if you preach the gospel of Jesus, everyone ought to bow down and lick your boots dreaming of salvation.
And then Novak came at us with a legal document we were now demanded to get executed, assigning the benefits of the policyholder to ABBA Construction, had magically become our responsibility.
The Foreclosurepedia Nation is well aware of the fact that I have an EXTREMELY LOW TOLERANCE for bullshit. And to simply shroud that bullshit with the bible does ABSOLUTELY NOTHING for me. And I called Novak on his bullshit. In fact, here is precisely what I wrote to him,
I am not comfortable having homeowners sign blank contracts committing they to unknown deposit amounts. This is an AOB, at the end of the day which I mentioned to Walt from Day 1.
And Hurricane Michael hit. The Asset Manager – Broker and I rode the hurricane out in a parking lot entering information into The Cole Team’s system, as Michael hit, for free. And had that been the end of the story; had Mr Christianity and we simply shook hands and parted ways, no party and no foul. But as is with people whom preach the bible, it was not the end of the story.
While Tommy Novak and Walter Cole were having my associate and I chase our tails, without any concern that the promises flowing forth like biblical fairytales of cloud people were lies, they were putting contractors on the ground, in Florida, making tens of thousands of dollars per day. The VERY SAME work we were promised in North Carolina was being handed out like Catholic wafers to their hand picked apostles.
That’s right. As in all things which originate in the Mortgage Field Services Industry, people like Walter Cole and Tommy Novak will screw Minority Females and Labor every chance that they get in my humble opinion. Well, it’s actually not an opinion as myself and my associate experienced it first hand. So, what The Cole Team, ABBA Construction, and UPC Insurance need to ask themselves is if this wasn’t a shitshow, why were we never bound to a Non Disclosure Agreement? Why were we never bound to a Non Compete Agreement? Moreover, though, if these are the sterling representatives of all things protective of Disaster Victims, why were we never asked to bind by contract to any of they?
What took the cake, so to speak, were the promises that flowed from Novak’s lips in an attempt to entice the victims we were meeting with. Promises of colors, types, and designs — promises that there was no way in hell any insurance company was going to provide — were flowing out like Moses had just hit a rock in the desert. I tell you this: Had I been an Eskimo in the Arctic Circle, in the deep of winter, I would have bought ice from Novak.
Look, maybe UPC Insurance told Novak to promise the moon. Maybe ABBA Construction lied to Walter Cole and he lied to us. I don’t know the answers to the questions about contracting or whom said what to whom. What I do know is that if you are a homeowner and are being compelled to sign contracts with The Cole Team or ABBA Construction, give me a call and talk about our experience. And what I also know is that there is NO WAY in hell ABBA Construction should ever be able to do ANYTHING upon a HUD M&M FSM Contract other than to tour a property they are going to buy!