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NAMFS is pleased to share that on November 14, HUD published their Mortgagee Letter, ML 2023-20. Included in this update are increases to expense reimbursables for vacant property inspections, as well as, Initial and Follow-Up Occupancy Inspections. These Inspection allowables align with Fannie Mae’s March 2023 and Freddie Mac’s August 2023 announcements. These alignments in pricing were a key component…

NAMFS hopes this message finds you well and is providing an update on our ongoing initiative to enhance compensation for property inspections and preservation work. NAMFS, as the leading industry association, recognized its responsibility to create a platform for dialogue and collaboration among stakeholders. The Association’s primary role is to facilitate discussions between Investors, Insurers,…

NAMFS is pleased to share that on August 9, Freddie Mac published their Servicing Guide Update 2023-17. Included in this update are increases to expense reimbursables for inspections and a few property preservation services, which is a primary focus of the NAMFS Industry Pricing Initiative. The Inspection allowable aligns with Fannie Mae’s March 2023 announcement.…

By NAMFS Technology Committee Technology has revolutionized the way mortgage field service companies operate and has brought about a host of benefits for both service providers and Field Service Professionals. From scheduling, routing, capturing photos, identifying risks, and submitting results to clients in real time. Technology has made the field service industry more efficient and…

NAMFS is pleased to share Fannie Mae Servicing Guide Update SVC-2023-1. Included in the changes are increases to expense reimbursables for inspections and many property preservation services, which was the focus of the NAMFS Industry Pricing Initiative. F-1-05 contains the updated expense reimbursement table with the Inspection and Property Preservation allowables on pages 577-583 of…

NAMFS is pleased to provide this update to the Mortgage Field Services Industry regarding this important initiative. We encourage our members to share this information with their network. As previously reported, NAMFS was able to present our Mortgage Field Services Pricing Discussion and Industry Pricing Pledge to several Investors/Insurers starting in late March 2022. NAMFS…

JGM Property Group, Inc. (JGM) has won a five-year contract to provide field service management (FSM) services to the Department of Housing and Urban Development (HUD), Single Family Housing, Real-Estate Owned (REO) Division.    The scope of the Department of Housing and Urban Development’s FSM contract focuses on HUD-owned, foreclosed residential properties in the Alabama, Mississippi,…

NAMFS is pleased to provide this update to the Mortgage Field Services Industry regarding this important initiative. We encourage our members to share this information with their network. As previously reported, NAMFS was able to present our Mortgage Field Services Pricing Discussion and Industry Pricing Pledge to Fannie Mae (FNMA) on March 10, 2022.  At…