NAMFS Industry Pricing Initiative Update

NAMFS is pleased to share two documents with our membership and the mortgage field services industry.  We encourage our members to share this information with their network.

The first document, Mortgage Field Services Pricing Discussion, is the basis for conversations with the Investors/Insurers of our industry that set guidelines and allowables.  The basis of this document came from the information members and non-members provided in response to the October 2021 NAMFS Survey.  We have reviewed and requested additional information as we worked closely with our partner, Gate House Strategies, and our Industry Solutions Committee.  While much of the direct examples are based on Inspections, we also address Property Preservation concerns. 

The second document is an Industry Pricing Pledge.  NAMFS is requesting that companies in our industry complete this document and send it back to us at admin@namfs.org.  The intent of this document is to demonstrate to the Investors/Insurers that any increase in allowables will be shared throughout the supply chain, specifically with the actual service providers.  In addition to this primary pledge, NAMFS is also including general support of the Association and our efforts on behalf of the mortgage field services industry. 

NAMFS was able to present these two documents to Federal National Mortgage Association (Fannie Mae) on March 10, 2022.  The feedback received was positive and our information will be added to their current evaluation on pricing.  We also have plans on subsequent meetings with Fannie Mae and will be working with our Industry Solutions Committee on a standard inspection form, like the NAMFS Industry Standard PCR.  In the coming weeks, NAMFS will be presenting this information to other Investors/Insurers.

If you have questions regarding this communication, please contact NAMFS at 888-292- 8631 ext. 1 or eric.miller@namfs.org