Mortgage Field News: Feedback and Fury
Dear Mortgage Field Professionals-
The last edition of our newsletter
set off a bit of a firestorm nationwide as abuses by large vendor management
companies begin to surface. In response, Working RE/OREP.org established a blog
page as an information exchange for contractors. You may leave your comments
The other is a link to all the state
Attorney Generals where you can submit an inquiry. It is recommended that you
submit an inquiry in your own state and in the state where the vendor management
company is located:
Finally, here’s an email sent
to us with the name of the large vendor management company removed. It lays out
what tactics to look for so you can avoid a lot of prolonged pain when dealing
with at least one large vendor management company. If you’d like to connect and
exchange information with others who have had similar experiences, you can do so
on our blog page:
Mortgage Field Chatter.
The article that you wrote about the restraint of trade and asset management contractor abuse is spot on but just the tip of the iceberg. I suspect you may know this, I sensed quite a bit of restraint in your article. You see, our company has very fresh wounds from our dealings with (ABC Company). We are currently out thousands of dollars after working for them from July through October. We are in the process of filing liens on homes, contacting attorneys and politicians etc.. at the moment. It is a struggle, trying to go after these thugs but still try to make a living at the same time. I am wondering if anyone you have been in contact with has gotten any further in initiating a class action lawsuit. If so.. we definitely have LOTS of documentation and experiences to offer the case.. and if not, then we may just be interested in networking with others in finding an attorney to take this on.
The tactics that this company
uses are downright unbelievable like CHARGING you MORE in reassignment fees then
what you would have gotten to do a job if you dare refuse the order or can't
abide by their unrealistic due dates, popping orders on your worklist that are
already late and with no notice then charging you for re-assignment if you can't
get to them immediately that day, demanding that you do free work and then
charging you the next contractor's fee if you refuse, telling you that YOU are
responsible to pay for their field QA reviewer's fee if ANYTHING is found wrong
at a property, and telling the QA person they will not be paid if they do not
find anything wrong.
We even have email proof from
a broker that she was threatened and forced to submit a review of our work on a
property before the work was completed or she would face financial penalty
herself. When she entered it as incomplete - we were refused payment for the
$800 work even though it WAS finished by the time the report hit the system,
charged $100 for her 0-$30 review fee and were charged more than $900 to "pay
for someone else to do the job" even though we provided over 300 photos showing
that the work is already complete.
Please share our contact
information with anyone else that wishes to network on this issue, and
especially if there is anyone that you are aware of that has made progress with
pursuing legal actions.
-Name left off for fear of reprisal.
For the best package of price and
coverage for you E&O and General Liability needs, visit or call
OREP.org (888) 347-5273.
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