June 2022 NAMFS Industry Pricing Initiative Update

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 is pleased to report that in Freddie Mac’s Bulletin 2022-12, dated June 8, 2022, they have announced a temporary increase in their pricing for exterior and interior inspections. The new allowables for these services will align with the recently published Fannie Mae guidance. These allowables, which are effective for work completed on or after June 27, 2022, are $20 for exterior inspections and $25 for interior inspections. The link to this Bulletin can be found HERE. 5. NAMFS is advocating that this increase be made permanent at a minimum.  We understand that there are many factors that impact the timing of pricing to direct service providers, including contractual issues with servicers. We have had positive conversations indicating evaluations are in process.

NAMFS also continues to work on the HUD/FHA request for additional information specific to improvements in policies and/or procedures. If you have comments, please send them to admin@namfs.org.  We look forward to receiving this information.

NAMFS is finalizing our Industry Standard Inspection form and will be presenting this to our Board of Directors at our June Board Meeting.  once approved, we will be sharing with Investors/Insurers, along with MBA.

We continue to accept support for this initiative and signed pledges. If you have questions regarding this communication, please contact NAMFS at 888-292- 8631 ext. 1 or eric.miller@namfs.org.