ISN Corporation has potentially been the most inept, incompetent, and unreceptive Mortgagee Compliance Manager (MCM) whom the US Department of Housing and Urban Development (HUD) has employed since — ever! There, now that we have that out of the way, the rest is but commentary — TL;DR. For those of you interested in the commentary, grab a bottle of whiskey and let’s get underway. ISN’s predecessor, Michaelson, Connor and Boul, at least had the common courtesy of giving a reach around when they told you they could care less. ISN? Well, over the past several years their Oklahoma City posse have been doing their best to shut down investigations before they ever get started. The fact of the matter is the state of review, with respect to FHA insured mortgages, is shit. Fact. Period. End of conversation. I mean the only way, I presume, that ISN is getting work done in Oklahoma City is their own version of Rasputin’s margin doodles.
When the volumes were high; when compliance was more assembly line, one could understand that not every small issue would be addressed. I mean after the 2008 Crisis, it was a bloodbath. Today, though, there are less than a hundred properties in any given state. How, for the love of God, is it possible to not address monies owed to Minority Females and Labor?
Look, I get it. Everyone out there is wondering what kicked the Great Satan back into high gear gunning for Regime Change. I’ll tell you. 495 Cedar Creek Drive, Pounding Mill, Virginia, HUD Case Number 541-820113, for starters. See, that property, which you are seeing on the right hand of your screen is a HUD post conveyance property. That means that you and I and hundreds of millions of other people backed the insurance on it during the sale. And for whatever reason, the homeowner was booted and Wells Fargo decided to clean it up. Wells Fargo contracted with Brookstone Management to put new appliances in it (boggles the mind) and then turn it over to HUD. During that process, ISN — specifically Greg Nelson and his team — allegedly verified that all of the expenses were paid; that the property was In Conveyance Condition (ICC), and that the title — probably one of the most IMPORTANT of documents — was clear and that there were no claims that could ever come back to haunt you, me, and HUD. See, there is that trendy word, COMPLIANCE. ISN has shakier compliance than oversight on donors in a Greyhound bus terminal blood bank.
Now, I don’t know what Nelson truly does for a living. He has half a dozen titles with respect to ISN and HUD. I don’t know if Nelson supports the Green Deal and quite frankly I don’t know or care whose bed he gets in and out of. What I do care about is the simple and salient fact that Nelson has taken my money, as a US Taxpayer, and by his own actions — or really lack thereof — fucked a Member of the International Association of Field Service Technicians (IAFST)! And before any of you get out there on that Captain Save-a-Ho mission, I recommend you place a call to ISN and ask them how that employee’s fund is doing these days. Don’t take Foreclosurepedia’s word for it, simply read what Jill R. Aitoro, Senior Staff Reporter, Washington Business Journal said on
ISN has some sections of the firm which have some fairly well educated folks. In full disclosure, I used to work for their US Marshals contract and had no issue. The problem is that those people do not work on the MCM side. And the further problem is that for too many years, ISN has been given a pass and HUD, along with Minority Females and Labor, have been taken to the cleaners.
Oh, I can hear it now, “ISN has always done me right!” Yeah? Well, when we took the first property to HUD, here is what they had to say,
Over the next several weeks, Foreclosurepedia is going to crawl up ISN’s asshole so deep with a microscope they are going to need a proctologist to sit down. When I am done, the entire Oklahoma City team; the Nelson Regime, are going to have Wells Fargo tattooed on one arm and Brookstone Management on the other as badges of honor. See, here is the fucked up thing: ISN is destroying lives in order to keep complacency the norm and not interrupt their Starbucks moment. Fuck them and the barista too!