Short Answer: Because it’s the law. Answer Explained in Detail: Fannie Mae passed a regulation (Announcement SVC-2011-08R) on September 2nd 2011 that on page 4 says:  

Standardized background checks are important because the field service business is an elongated, tiered process. It starts when a financial institution issues a work order to inspect or perform work at a property. They typically contract with a national field service provider to perform the requested work. Click the quote below to read the full article.

After hundreds of lawsuits and thousands of complaints, banks are finally pushing for reform.  The measures are meant to screen out people convicted of felony criminal offense, such as theft or fraud.  The Mortgage Field Services Industry is facing ever increasing requirements to ensure there is appropriate oversight of their third party service providers. One by-product is the requirement to have a valid criminal background check.  Background checks are a long-term standard practice in many organizations as a way to mitigate risk.  Background checks are now a mandatory reality forRead More

As mortgage field inspectors, we are required to inspect vacant properties. Often times we encounter mold in the home and depending on your immune system, this can cause instant headaches as well as trigger asthma attacks, allergic reactions, and sinus infections.  There are literally hundreds of thousands of mold species which are all essential components of our ecosystem.  They provide decomposition of many organic substances necessary to plant, animal and human life.  Mold is a fungus that grows wherever there is moisture.  Mold spores that pass through the air find places where thereRead More

Mortgage Field Service contractors are faced with the dilemma of providing occupancy verification and letter delivery services to all sorts of properties for their clients. Properties with “No Trespassing” signs can and often are treated in the same way as “no contact” inspections. Inspectors are asked to take detailed photos of the signage, but to always keep their personal safety in mind. With the exception of bankruptcy cases, if we choose not to cross a “No Trespassing” sign, then we need to reach out to the neighbors to verify occupancy. Just because there is aRead More

As an independent contractor to any company it is important to understand that your email address (or other communications for that matter) reflect your professionalism. You can keep your personal email address, just create a separate business email address. You may want to consider a unique email address that is consistent with your business name or the mortgage field services industry. You should give careful consideration to what comes after the “@” sign in your email address. In your opinion, which email address sounds more business-like? JohnDoe1983@yahoo.com or John.Doe@fieldservices.com What your emailRead More

Mortgage Field Services: Automated Data Processing Mortgage field service companies that hire independent contractors need automated data processing software to remain competitive in the field services business. A service company with a dozen or more clients must provide a way for their field service reps to download and submit their inspections to just one website or program. Bombarding your reps with dozens of websites, programs, and systems will only lead to high turnover rates. Mortgage companies and banks will send work orders to Mortgage Field Service companies for various reasons.Read More