# MCS Termination



## Hunnybunn107

Received an email from MCS stating that due to the reduction of work for Corelogic vendors they are terminating our contract. We knew all along where the Wells Fargo work orders were going, but apparently MCS was not aware...anyone else do the switch from Corelogic to MCS and now no longer receiving work?


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## tak

SO when the switched happened WF pulled their volume from CL / MCS to who?


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## All Island Handy

not sure but im thinking service link.......


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## Wannabe

They knew. MCS has offices in Wells Fargo's HQ. Just weeding the herd.


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## JDRM

What areas are you referring to??..... Servicelink has already had WF in most states, and lost them in Mi and Wis last October, to 5 bros. WF has been spreading their work out to several different Nats lately....


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## Zuse

Wannabe said:


> They knew. MCS has offices in Wells Fargo's HQ. Just weeding the herd.


You know this is funny, my competitor in my area does the entire state for MCS and loves working for them, and he says they pay him on time and everything. And he rarely got any charge backs from them.

I'm confused, he must be the exception. They offered the us the entire state and we turned it down, at the time we just had to much work.

He's never had anything bad to say about them. Doesn't Altisource own MCS now?


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## Zuse

JDRM said:


> What areas are you referring to??..... Servicelink has already had WF in most states, and lost them in Mi and Wis last October, to 5 bros. WF has been spreading their work out to several different Nats lately....


Servicelink will probably get even more of it now, and NFR to, NFR has been flooding us with WF of late.


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## JDRM

Zuse said:


> Servicelink will probably get even more of it now, and NFR to, NFR has been flooding us with WF of late.


Maybe this is the news we are supposed to get after the new year?.... I hope so!!!:thumbsup:


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## Wannabe

Mcs piece meals ALL WFHM work to other companies. Altisource does not own MCS. MCS is part of a HUGE holding Company called Concentic Holdings which is operated by the CEO of MCS. Just Google Mcs Holding Company and you can research the corporate structure. 

I've been in the MCS offices at WFHM and saw the operation. Took several employees to an NCAA basketball Sweet 16 game and the scoop you hear.......

Nothing good. I see the Holding Company reducing pay even further due to the stockholders wanting even more profits while the inventory continues to decline.


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## Zuse

JDRM said:


> Maybe this is the news we are supposed to get after the new year?.... I hope so!!!:thumbsup:


Could be, i think its more about operational standards than a new account even tho the rumors have been flying lately about it. Everyone i talk to at SL is being very tight lipped about it. The CE BATF for SL has tripled my bottom line, WF wants all their yards raked, all the trees trimmed, shrubs. all yr long. They've seen what happened to MCS, and are going to have to do some cleaning up, contractors and operational standards.

WF just implemented 500.00 fine on posting the wrong signs on the doors last week. Each company has their own color and contractor code on the signs, vacant postings, wint posting, tax sale posting. any and everything has to come off the visibility from front view. Only WF signs after to be seen from the front from now on, SL has been slow of late to get the message, had a conference about the signs post 2 weeks back about the WF sign policy and the had it all wrong.

Hell it has gotten so serious NFR had to put put a Webinar about it last week. WF got caught with their pats down in 2008, and their determined not let it happen again. WF is the only 2nd to the large home mortgage portfolio which is makes BOA on top, But the Government is all over BOA for the moment, the fine have been off the charts. WF is falling in with compliance with the GOV regs, BOA is not, mostly do to SG handling of the account, this is why BOA is charging back SG some much, its forcing SG to pas it on to the BOTG. Only going to get worse for SG.

Keep in mind WF and SL us the same Indian corporation to process they're work orders. If BOA doesnt do something soon theu will loses the account, part at the time, Do to the fact no one can handle the whole account at one time much like WF is only allowing, 25% of the work to go one company at the time, of course their are exceptions for that rule. NFR got over 1/2 of all the portfolio in NC and some other states. 

Its been freaking crazy busy with the raking, what is it now! 2 large bags they say equals a yrd. I got some pics of the yrds were raking and it just down right crazy. averaging about anywhere from 1200.00 to 2500.00 a pop. The contractors are raking the bucks in... 

I do remember Wannabe warning us:: He said something about this was going to happen earlier this yrs cuz he had family or friends working in the offices of WF.


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## Zuse

Wannabe said:


> Mcs piece meals ALL WFHM work to other companies. Altisource does not own MCS. MCS is part of a HUGE holding Company called Concentic Holdings which is operated by the CEO of MCS. Just Google Mcs Holding Company and you can research the corporate structure.
> 
> I've been in the MCS offices at WFHM and saw the operation. Took several employees to an NCAA basketball Sweet 16 game and the scoop you hear.......
> 
> Nothing good. I see the Holding Company reducing pay even further due to the stockholders wanting even more profits while the inventory continues to decline.


The inventory has declined but their also hold a lots of properties, most that Ive been servicing has been in my line up for over 2 yrs. Just Humble option... but The rise in home prices is going to pop the bubble again here shortly. and WF is well aware of it. thus i would propose the stream lining of the operations. Moving what they can overseas.

But probebly you know more about the inter-workings at WF than i do, is all see is whats happening in the field and the network im in.


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## JDRM

Zuse said:


> Could be, i think its more about operational standards than a new account even tho the rumors have been flying lately about it. Everyone i talk to at SL is being very tight lipped about it. The CE BATF for SL has tripled my bottom line, WF wants all their yards raked, all the trees trimmed, shrubs. all yr long. They've seen what happened to MCS, and are going to have to do some cleaning up, contractors and operational standards.
> 
> WF just implemented 500.00 fine on posting the wrong signs on the doors last week. Each company has their own color and contractor code on the signs, vacant postings, wint posting, tax sale posting. any and everything has to come off the visibility from front view. Only WF signs after to be seen from the front from now on, SL has been slow of late to get the message, had a conference about the signs post 2 weeks back about the WF sign policy and the had it all wrong.
> 
> Hell it has gotten so serious NFR had to put put a Webinar about it last week. WF got caught with their pats down in 2008, and their determined not let it happen again. WF is the only 2nd to the large home mortgage portfolio which is makes BOA on top, But the Government is all over BOA for the moment, the fine have been off the charts. WF is falling in with compliance with the GOV regs, BOA is not, mostly do to SG handling of the account, this is why BOA is charging back SG some much, its forcing SG to pas it on to the BOTG. Only going to get worse for SG.
> 
> Keep in mind WF and SL us the same Indian corporation to process they're work orders. If BOA doesnt do something soon theu will loses the account, part at the time, Do to the fact no one can handle the whole account at one time much like WF is only allowing, 25% of the work to go one company at the time, of course their are exceptions for that rule. NFR got over 1/2 of all the portfolio in NC and some other states.
> 
> Its been freaking crazy busy with the raking, what is it now! 2 large bags they say equals a yrd. I got some pics of the yrds were raking and it just down right crazy. averaging about anywhere from 1200.00 to 2500.00 a pop. The contractors are raking the bucks in...
> 
> I do remember Wannabe warning us:: He said something about this was going to happen earlier this yrs cuz he had family or friends working in the offices of WF.


Im hoping we can get at least a piece of WF back here in MI, I know 5 bros is doing most if not all. And yes, leaf removal, the siblings claim 6 leaf bags = 1 cyd. They are doing alot of them around here also...


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## JDRM

Hunnybunn107 said:


> Received an email from MCS stating that due to the reduction of work for Corelogic vendors they are terminating our contract. We knew all along where the Wells Fargo work orders were going, but apparently MCS was not aware...anyone else do the switch from Corelogic to MCS and now no longer receiving work?


Where where the orders going?


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## Wannabe

Zuse,

You are SO RIGHT on these shadow properties. The Mortgage Companies were holding property till values increased. These properties are starting to be released to meet shareholder demands for higher return. 

Looking at the Long Term I don't see the returns required to satisfy investors and a collapse of many more companies. When FNMA reduces staff (layoffs) by nearly 1/3, when the large P&P Companies start selling out and forming Holding Companies to increase the serviceable number of properties, when large numbers of US workers are replaced with overseas cheap workers, when pay has decreased to less than poverty levels, as the economy improves (debatable) less amounts of homes go into foreclosure etc etc In my opinion the industry will return to the levels back in the mid-90's. 

The housing bubble formed this industry as it is today. It was formed out of need but as improved conditions economically the industry went from Need to Greed. 

We always stated the main reasons a property went into foreclosure was the 3 "D's". Drugs Divorce and Disability. For the Mortgage Company there is NOW a 4th "D": Death. With the advent of Reverse Mortgages back in the late '90's a lot of retirees were able to increase monthly retirement using their homes collateral (I offered these products from my Insurance Agency till we saw how bad a product this was). If I was a P&P contractor I would be locating the companies that sell this product to clean them up for resell. There is a ton of these products out there that will be coming for servicing. 

That's my opinion


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## Framer1901

I just sit back and watch in amazement the changes this industry has and continues to go through.

Hats off to the few in the know, the ones able to keep up with the changes and drive their business forward at profitable terms. I'm not sure but I sort of understand where we went wrong, why it all came to a halt for us - you can't cry over spilled milk anyways - just a tinge of jealousy though. Although I see these business' continuing on for some time, I just seen no value in creating the business - other than a few dollars sticking in a checking account, when it's over you are left with a few computers and phones.......

My wife is still hacking the bushes doing drive by inspections, I haven't seen her work in general slow down at all. The shadow inventory, the new homes coming online, it seems to me that this economy is still increadibly fragile. The artificial inflation of home values seems risky but good for the overall economy, all be it a house of cards at the moment.

I've made my bed, I work everyday so that one day I have something to pass on to a younger generation or sell to another fool with dreams - only time will tell if I'm sleeping on an old couch or a comfortable mattress.


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## Craigslist Hack

We are flooded with WF work and I can't get anyone to rake leaves. It's just something we have never done and I think my guys are spoiled. It's real work! They just want to ride mowers and drive around all day. 

WF is the bulk of our work load. We hate the BATF but Zuse loves it. Everything is a matter of perspective and location.

I was told by someone at SL that they are looking for revenue before the end of the year. They flat out told me to prioritize the larger orders over the small ones. I was even given the option of having the small ones reassigned.


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## JDRM

Diversity! Nobody should have all their eggs in the Preservation market. :thumbsup:


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## Hunnybunn107

JDRM said:


> Where where the orders going?


They didn't say where the orders were going. Only that it affected Florida vendors that were transitioned from Corelogic to MCS. When we talked to Vendor Management, they said they got the larger loads in other states instead. 
I've heard a lot of rumors about who's getting the work but I haven't found anything concrete. Industry has changed so much its crazy...


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## Craigslist Hack

Hunnybunn107 said:


> They didn't say where the orders were going. Only that it affected Florida vendors that were transitioned from Corelogic to MCS. When we talked to Vendor Management, they said they got the larger loads in other states instead.
> I've heard a lot of rumors about who's getting the work but I haven't found anything concrete. Industry has changed so much its crazy...



They can have it. I miss the old days where you went and looked at a job supplied a bid and they either approved it or they didn't. It was far easier to line up equipment and manpower and you KNEW what you were getting paid.


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## JDRM

Craigslist Hack said:


> They can have it. I miss the old days where you went and looked at a job supplied a bid and they either approved it or they didn't. It was far easier to line up equipment and manpower and you KNEW what you were getting paid.


The C.E is very generous in some categories, shi**y in others, u just need to know how to work it. I love it! But I hear ya, the old days not requiring it was much better and less time consuming.


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## Craigslist Hack

JDRM said:


> The C.E is very generous in some categories, shi**y in others, u just need to know how to work it. I love it! But I hear ya, the old days not requiring it was much better and less time consuming.


The entire premise of a CE is BU!! SH!T. I run this company and I charge what I want to charge. I am not an employee they can't tell me what my hourly wage is. They can't tell me what work I HAVE to do at a property such as leaf removal. The fact that we have all let it get to this is insane. Why has no one sued Wells Fargo for violating labor laws? It would result in a massive settlement.

I seriously wish someone would contact the IRS and let them know. THey would pick up the ball and run with it.

I'm a home run hitter not an RBI guy and the CE limits my ability to hit homeruns. Ties us up at properties we don't want to work on. We used to bid them crazy high and let the Hacks have them.


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## Hunnybunn107

I'm still confused, because, MCS says we are on indefinite hold. We have not received any work orders on their system but we still receive e-mails from MCS and we are getting work orders on Corelogic website. Corelogic still owes us a lot of money from before the acquisition and the dispute process is ridiculous, I love the reason "invoice was zero billed in error". 


MSI said they were going to be getting all Wells Fargo work for the state of Florida, but they have been saying that for the last 2 years. They are having Wells Fargo training sessions and say they will roll out on the 15th.


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## Zuse

Hunnybunn107 said:


> I'm still confused, because, MCS says we are on indefinite hold. We have not received any work orders on their system but we still receive e-mails from MCS and we are getting work orders on Corelogic website. Corelogic still owes us a lot of money from before the acquisition and the dispute process is ridiculous, I love the reason "invoice was zero billed in error".
> 
> 
> MSI said they were going to be getting all Wells Fargo work for the state of Florida, but they have been saying that for the last 2 years. They are having Wells Fargo training sessions and say they will roll out on the 15th.


No one gets all of the WF work, its broken up between Nationals, And MSI is a freaking joke of a company anyhow.

They couldn't handle it if they had all the contractor in Florida period.


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## Craigslist Hack

Zuse said:


> No one gets all of the WF work, its broken up between Nationals, And MSI is a freaking joke of a company anyhow.
> 
> They couldn't handle it if they had all the contractor in Florida period.


Ha MSI! Nice folks they pay like a savings bond!


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## lakeshore67

*MCS Now AMS*

Asset management services is now MCS.... I applied to them a while back and found this out:whistling2:


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## WES1

In the very NEAR future, MCS will have everyone switch to the Aspen Grove/MCS app for android phones. You will be required to receive and upload all w/o`s through this app. You will have to take the normal street sign and house number, then a "selfie" and photos of anyone on your crew at the w/o location and submit for validation through the criminal data bases,while that is happening you will have to fill out a 10-15 questionnaire about the exterior of the property, once that is filled out and submitted, the OK to proceed will be given to complete the task for that w/o. If any of the personnel come back as "invalid" ,you will be terminated, if they are "valid", you will complete the work requested as photos will be uploaded in "real time", upon completion the PCR will show up, you will complete that and hit the submit button.....and poof.....the w/o is gone.
That is the break down I have gotten from a VERY reliable source....99% of all WF orders will be streamed through this app. It is not known how the contractors will be able to track and bill for the work they have performed, or at least it was not discussed.


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## Craigslist Hack

WES1 said:


> In the very NEAR future, MCS will have everyone switch to the Aspen Grove/MCS app for android phones. You will be required to receive and upload all w/o`s through this app. You will have to take the normal street sign and house number, then a "selfie" and photos of anyone on your crew at the w/o location and submit for validation through the criminal data bases,while that is happening you will have to fill out a 10-15 questionnaire about the exterior of the property, once that is filled out and submitted, the OK to proceed will be given to complete the task for that w/o. If any of the personnel come back as "invalid" ,you will be terminated, if they are "valid", you will complete the work requested as photos will be uploaded in "real time", upon completion the PCR will show up, you will complete that and hit the submit button.....and poof.....the w/o is gone.
> That is the break down I have gotten from a VERY reliable source....99% of all WF orders will be streamed through this app. It is not known how the contractors will be able to track and bill for the work they have performed, or at least it was not discussed.


yeah ummm.... no but thanks for playing.

not feeling all of that,


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## JDRM

I was asked for a sefie from the siblings yesterday...:whistling2:


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## GTX63




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## mtmtnman

Craigslist Hack said:


> yeah ummm.... no but thanks for playing.
> 
> not feeling all of that,


I got the same info from a company i cover statewide for this AM. Wells Fargo is pushing this hard....


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## Craigslist Hack

mtmtnman said:


> I got the same info from a company i cover statewide for this AM. Wells Fargo is pushing this hard....



I've been looking for the right reason to bail maybe this will be it. Wells Fargo is more than half of our P&P business.


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## WES1

We have bailed, been in it since 2008, just got feed up with all of the B.S and decided to pull the plug....
So far, we have been doing pretty damn good outside the PPI. It`s looking like 2015 will be even better. I encourage everyone to diversify their services to the residential and commercial sector, it damn sure pays a hell of a lot more, YOU can actually manage your time ( not some cubicle rat micro-managing you ), take time off when you need it, and people / business`s actually appreciate the service / service`s you provide.:thumbup:


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