"Do-da-da-go-hv-i"
Yes, we have trashed more listings in the National Field Service Directory.
If you have not updated in the last 12 months, you are gone.
"Do-da-da-go-hv-i"
Update at www.joinsofi.com
Wednesday, May 22, 2013
Leadership In The Field Services Industry
If you search Amazon books on the keyword "leadership", the search will return 92,649 books on the subject.
I am a Theory Y type manager. Must of my experience in managing people comes from my 20 years as a naval officer and 8 years as a program manager/systems engineer for E-Systems and Computer Sciences Corporation.
Too many of the national and regional mortgage field service firms are Theory X managers. When a firm has "CHARGE BACKS", this is a good indicator that they are Theory X managers. They use punishment (they fine you ... they take money from you) to extract performance to meet their requirements. The Theory X manager
tends to believe that everything must end in blaming someone. With blame comes PUNISHMENT in the form of CHARGE BACK. Mary, an inspector on long Island, was PUNISHED with a $500 charge back for being one day late on a $10 loss draft inspection. This came right at the Christmas holidays.
You want to AVOID firms that inflict pain by using charge backs.
The below information comes from Wikipedia. I have added some bolding and yellow highlighting. This is a good review of Theory X and Theory Y leadership principles.
Continue reading "Leadership In The Field Services Industry" »
The Mortgage Segment Is The Home Of Almost ALL Insurance Claims!
The MORTGAGE SEGMENT is the home of 99% of the liability and E&O insurance claims in the field services industry. It is well recognized in the mortgage segment of the industry that there are too many claims.
An officer of a large mortgage field services association commented in a recent letter that they have ... "spoken with member insurance companies
about the industry in general and the large number of claims they are
experiencing".
Continue reading "The Mortgage Segment Is The Home Of Almost ALL Insurance Claims!" »
Tuesday, May 21, 2013
LPS Closing Its Doors On The Asset Management Part Of The REO Segment
LPS announced that it is moving out of the Asset Management portion of the REO segment of the mortgage industry.
What's Happening In The Mortgage Segment: Follow Foreclosurepedia.org
I don't follow the mortgage segment of the field services industry very closely because the inspection fees are so low $3 ... $4 ... $5 and this segment is the home of 99% of all of the problems in the field services industry.
I do follow Paul Williams at www.foreclosurepedia.org. Paul is a very talented investigator. I read all of his blog posts. He does gather my attention on many topics. I am not in 100% agreement with Paul on all issues discussed, but he is often right on most issues.
The mortgage segment of the field services industry has so many problems and no real leadership. There is no leader to turn that segment around. It is out of control. The Government cannot control it. In many cases, the Government makes the problems worst. HUD, VA, Fannie-Mae and Freddie-MAC are unable to control the fraud in the industry. They are BLIND lions with NO TEETH. You cannot trust the Government to identify and fix a problem. Look at the IRS 3-ring circus.
Monday, May 20, 2013
Recycling Mortgage Inspection Photos
The owner of a Tampa field services firms pleaded guilty at the end of 2012 to defrauding Bank of America out of 12 million dollars by submitting false reports and photos. He recycled photos for several years. Bank of America was sleeping. Vermont photos showed oak trees with green leaves in the month December ... no fall colors.
Friday, May 17, 2013
Making Money With Bank Of America (BAC)
Some field service representatives lost their jobs in 2013 when Bank of America (BAC) decided that it no longer wanted field services to be part of its core business. Robert Klein at Safeguard Properties purchased Bank of America Field Services. Unfortunately, some of the Bank of America Field Services field representatives lost their jobs during the transition.
The mortgage segment of the field services is trending down because delinquencies and foreclosures are trending down. Bank of America has become a much stronger bank during the last 12 months. During this time, the price of Bank of America stock has doubled. Check out the chart.
Continue reading "Making Money With Bank Of America (BAC)" »
If I Can't Perform The Job, Just Fire Me .... Please
I am NOT stupid. Don't treat me like I am stupid. I am a professional field services representative.
Stop with the "Write Off Reason Codes". I am a professional. If I cannot perform the inspection task, then just fire me. What is with these stupid "Write Off Reason Codes"?
Continue reading "If I Can't Perform The Job, Just Fire Me .... Please" »
Thursday, May 16, 2013
Realtors Pushing Out Real Estate Appraisers
More than 10 million Broker Price Opinions (BPOs) will be ordered in 2013.
Many real estate appraisers have left the industry because of cut-rate desk-top appraisals and broker price opinions (BPOs). In many states, a real estate appraisal requires about 40-60 hours of classroom training, testing and about a year (1,800 hours) in the field training under the supervision of an experienced licensed appraiser. Many real estate valuations performed in the past by experienced appraisers are today performed by Realtors with little training in the valuation of residential real estate. I have seen cases where a $25o appraisal has been replaced by a $15 BPO performed by a Realtor.
Continue reading "Realtors Pushing Out Real Estate Appraisers" »
Stay Close To Home ... Diversify By Working For More Than One Firm!
I didn't take your advice about working close to home. I
got too spread out with one company and found that the fuel expense was
too much. So now I'm on the verge of losing more than one client and am
having trouble keeping the lights on. I wish I'd have listened better.
Many mortgage inspectors are not diversified. They often work for only one firm and they cover a large area. They are often replaced without any notice when their mortgage customer finds another inspector who will perform for a lower fee. Job security is very low in the mortgage segment.
Most commercial inspectors are well diversified. They work for for about a dozen high quality firms who pay higher fees. Job security is much better when you are working for a dozen firms as compared to one firm. The loss of one firm usually does not have a significant effect on a revenue stream.
Listen to what I say. I have learned from the experience of tens of thousands of field service inspectors over the last 21 years. I know what works best.
Do You Feel That You Are An Independent Contractor, But That You Are Treated Like An Employee?
CSI (commercial inspections), Douglas Guardian (commercial inspections) and Mueller (insurance) hire most of their field service inspectors as employees. The large majority of field service inspectors in the whole field services industry are independent contractors. But, that may change.
In September 2011, Secretary of Labor Hilda L. Solis announced a major step forward with the signing of a Memorandum of Understanding (MOU) between the Department and the Internal Revenue Service (IRS). Under this agreement, the agencies will work together and share information to reduce the incidence of misclassification of employees, to help reduce the tax gap, and to improve compliance with federal labor laws.
What's Happening In The Mortgage Segment Of The Industry?
Let me be honest with you! I do not like the MORTGAGE SEGMENT of the field services industry. I like a few firms in the mortgage segment, but I distrust many of the firms in this segment.
I simply IGNORE this segment. I don't waste my time examining all of the problems in the mortgage segment. I make money outside of the mortgage segment. Maybe you should follow my lead.
I read about the mortgage segment in Yahoo Groups, blogs and at websites.
Continue reading "What's Happening In The Mortgage Segment Of The Industry?" »
Take A Shot Across The Bow ... Don't Walk Away From Your Money ... Have An Attorney Send Your Deadbeat Customer A Demand Letter
Heed my advice and stay away from the MORTGAGE SEGMENT of the industry and you will have fewer problems in life. Yes, there are some good firms in the mortgage segment, but you will have to ask firms for references and call them. It's also best to network with other field service representatives and share information on field service firms. Use the 1,000 mile rule and network with distant field service representatives where you do NOT compete with each other. Networking will make you much smarter and put more money in your pocket. Networking really works. Try it!
Friday, May 10, 2013
Inspector Christopher Richardson Is Different
Chris knows how to grow his field services business. He advertises his business at www.fieldinspector.BIZ. He markets DIRECT to hiring firms using the National Field Service Directory.
Chris seeks out training to become better qualified to perform more interesting and higher fee jobs. He has recently trained as a commercial insurance loss control inspector at both basic and advanced levels. This training has increased the demand for his services. Chris is different, but different in a great way. He knows that you have to introduce yourself to firms and then perform in an outstanding manner.
Continue reading "Inspector Christopher Richardson Is Different" »
Too Much Advertising Could Be A Red Flag
I see where some small field service firms are posting a lot of advertisements at Yahoo Groups and Craig's List. This could be a sign of HIGH TURNOVER and a RED FLAG.
When a field inspector LOVES a firm, they stay with the firm. There is NO turnover.
Lots of continued advertising for the same areas can also mean that their fees are BELOW MARKET fees ... another RED FLAG.
Always ask for five references and call them.
Thursday, May 09, 2013
Mortgage Quality Assurance (QA) Inspector Blows The Whistle To SOFI
I talked on the telephone with a Quality Assurance (QA) inspector (EMPLOYEE) for a large national field services firm in the MORTGAGE segment of the industry.
This employee inspector performed quality assurance inspections of completed property preservation tasks on foreclosure homes. That is a standard practice for some firms in the industry.
Continue reading "Mortgage Quality Assurance (QA) Inspector Blows The Whistle To SOFI" »
Some Hiring Firms Are Missing Out!
Something is very wrong! Some hiring firms are just missing out.
They are all alone. They depend on Craig's List to find an inspector for an inspection that is already a week late. They are starving because their client list is declining because they don't know how to gather up some of the best field service representatives and get quality work performance. They stand out from their competitors ... but, in a bad way and not a good way.
The competition is building up their client list because they are more organized and they know how to build a strong network of field service representatives. The competition gets the work done ... and, on time! The competition works with SOFI to build their business. The competition purchases and uses high quality products from SOFI. The competition advertises with SOFI. The competition is feeding on the sweet honey offered by SOFI.
Mortgage Inspection Volume & Fees Trending Down!
More mortgage inspectors will be chasing fewer of the low-fee mortgage inspections.
Mortgage inspection fees will continue to decrease as more mortgage inspectors will be chasing fewer mortgage inspections. It's all about supply and demand. Reuters reported that foreclosure activity fell in April to its lowest
level in more than six years.
I have already seen where some of the GREEDY PIG national mortgage field service firms are asking mortgage inspectors to perform more work for less money. Yes, some mortgage inspections are paying only $2.75 for a mortgage inspection with seven required photos.
Continue reading "Mortgage Inspection Volume & Fees Trending Down!" »
Tuesday, April 30, 2013
Bank of America Insider Trading
Director David Yost purchased $230,200 of Bank of America (BAC) common stock.
Does he see a breakout to higher levels? Is BAC becoming a better bank?
HUD Has A Record For Hiring Crooks To Manage Their Foreclosure Properties
I like to read the blog at www.foreclosurepedia.org where writer Paul Williams blogs about some of the crooks working under the existing HUD Management and Marketing (M&M) contracts. Contact Paul is you want some help in identifying the crooks in the mortgage segment of the industry.
HUD does have a difficult time in selecting their contractors. The MORTGAGE SEGMENT is the home of 99% of all of the problems in the field services industry. The commercial segment is the best segment with higher quality firms.
Below is a 1999 news story from the Associated Press summarizing a Congressional investigation of HUD and one of it's M&M contractors. It shows that HUD has a record of hiring crooks.
Continue reading "HUD Has A Record For Hiring Crooks To Manage Their Foreclosure Properties" »
Monday, April 29, 2013
A Demand Letter From An Attorney May Bring Forth A Payment From A Deadbeat Customer
SOFI Has An Apple Tree Loaded With Delicious Ripe Apples
I am amazed at how many business people do NOT understand marketing. Most field service representatives are still waiting for an apple (job opportunity) to fall from a tree. They do nothing but just wait around hoping for a call, without making any calls. They take no action.
The smart field service representatives go to the apple tree and pick the apples. They don't wait for a falling apple.
Check out the SOFI apple tree.
Thursday, April 25, 2013
Don't Purchase Equipment You Do NOT Need!
You won't need a walking measuring wheel if you do not perform insurance inspections. You can purchase such a measuring wheel on any day of the week at Home Depot or Lowes.
You don't need a FAX machine or a dedicated FAX telephone line.
Most field service photo requirements are for 640 x 480 pixel photos. A one-mega-pixel camera will work fine.
Continue reading "Don't Purchase Equipment You Do NOT Need!" »
About Liability Insurance & Errors And Omissions (E&O) Insurance In A Nutshell
- Liability insurance usually relates to property
preservation ... few exceptions such as mattress
inspections
- E&O insurance usually relates to inspections ...
few exceptions
- Large majority of inspections require NO insurance.
- Low fee ($2, $3, $4, $5) MORTGAGE inspections
almost always require E&O insurance. More risk ...
more insurance claims. This is the segment to avoid.
- Higher fee insurance and commercial inspections
usually require NO insurance.
Continue reading "About Liability Insurance & Errors And Omissions (E&O) Insurance In A Nutshell" »
All SOFI Products Come With A Satisfaction Guarantee!
Be sure to visit the SOFI Online Store.
SOFI has come great products to help you grow your field services business. All of our products come with a SATISFACTION GUARANTEE ... NO risk to you.
Call us to chat about field services at 352-449-1041 (office) or CELL 321-543-2809 (AT&T cell mobile to mobile minutes are not charged against your minute usage). All telephone numbers are east coast telephone numbers.
Tuesday, April 23, 2013
False Claims Act ... Report Fraud & Win Big ... Rat Out Your Boss!
This woman discovered fraud, reported it and the U.S. Government rewarded her with EIGHTEEN MILLION DOLLARS.
Do you work in a national mortgage field services firm that commits fraud against the U.S. Government? Rat out your boss ... you could be rewarded with a huge sum of cash while the lawyers do all of the work. If you work for rats ... learn how to make money on the rats.
Great Commercial Insurance Loss Control Training In Cape Canaveral, Florida
Tuesday, April 23, 2013 ... Cape Canaveral, Florida
Today is the last day of commercial insurance loss control classroom training at Cape Canaveral, Florida.
If you missed the class room training, you will find that commercial insurance loss control training manuals (downloads & paper copies) and training videos (DVD sets) are available at www.sofistore.com.
Call 352-449-1041 (east coast) to learn about the training materials that you can order and use to train in your home.
Thursday, April 18, 2013
Make A Cool $100,000 While In The Field
When you are a field service representative, you are out and about and traveling in many neighborhoods. Field service firms pay you to be observant ... you are their eyes and ears.
The FBI will pay you $100,000 if you are the one who provides a tip on one of their ten most wanted fugitives that leads to an arrest. You need to visit www.fbi.gov frequently and print out the mug shots of the ten most wanted fugitives. Carry these mug shots on your front seat. It's a cool $100,000 if you spot one of these fugitives and it leads to an arrest. Look around when you are drinking coffee at McDonalds or picking up a lottery ticket at a convenience store or buying gas.
Wednesday, April 17, 2013
What About Using Some Common Sense! Don't Be A Pirate! Slow Down!
Common sense is essential in life. It's a good thing that breathing is automatic and does not require any real thinking. If breathing required some real thinking, then there would be a lot more dead people in the world.
The Huffington Post got it right when they said that some (not all) property preservation mechanics act like pirates. If the bank says remove the debris from a vacant and abandoned property, then some (not all) property preservation mechanics believe the anything in the house now becomes their property even when the property has not been abandoned.
Continue reading "What About Using Some Common Sense! Don't Be A Pirate! Slow Down!" »
Wisdom Is Knowing The Real Meaning Of Words
Wisdom Is Knowing The Real Meaning Of Words
"We can provide you with a very large volume of these $3 mortgage inspections".
The real meaning is that no one else wants these low fee inspections.
"We took away these mortgage inspections because your service area was rezoned".
The real meaning is that the national mortgage field services firm found another inspector who will take 50-cents less for each inspection.
Continue reading "Wisdom Is Knowing The Real Meaning Of Words" »
Still Waiting To Get Paid For Field Services Performed?
Do you need some very low-cost professional legal help? Often times a letter from an attorney to a customer will motivate the no-pay customer of yours to sent you a check for what you are owed. The letter to your customer says you have retained an attorney and you are dead serious about taking legal action to get your money.
It doesn't happen often, but you need to take action when a firm becomes a no-pay. Let SOFI help you find the higher quality firms and avoid the no-pay firms. SOFI can help you find the better neighborhoods.
Earn Millions Of Dollars: Rat Out Your Crooked Boss
About 99% of the fraud in the field services industry is in the MORTGAGE SEGMENT. No one ever argues with that statement. The MORTGAGE SEGMENT is the home of very low inspection fees and almost all of the problems. It has always been that way.
You may be an employed staff member at a crooked company which is committing fraud against the U.S. Government. If you document and report the fraud, you could be rewarded with millions of dollars. You will be helping your Government and you will be REWARDED with money. Talk to an attorney and get professional advice before you begin.
Have you heard of the False Claims Act, also called the Lincoln Law?
Continue reading "Earn Millions Of Dollars: Rat Out Your Crooked Boss" »
Tuesday, April 16, 2013
Sunday, April 14, 2013
Friday, April 12, 2013
Lenders Processing Services (LPS) Net Income Declining Over Last Three Years!
I looked at some Yahoo Finance statistics on Lenders Processing Services (LPS).
LPS net income has been going down every year since 2010. In 2010, net annual income was $302 million. It fell to $96 million in 2011 and fell further to $70 million in 2012. That is a huge drop in income.
When net income trends down, firms look to cut expenses.
Continue reading "Lenders Processing Services (LPS) Net Income Declining Over Last Three Years!" »
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