As the National Association of Mortgage Field Services (NAMFS) continues to work toward its Pricing Pledge, an ongoing initiative to enhance compensation for property inspections and preservation work, GIS Field Services remains committed to these efforts—and aims to take them even further. GIS signed the NAMFS Pricing Pledge in 2022, agreeing to share all allowable increases equitably and fairly with those directly providing mortgage field services on our behalf.
In recent years, NAMFS has worked to create a platform for dialogue and collaboration among stakeholders “to establish a consensus on equitable pricing that considers the complexity of services rendered, regional variations, urban versus rural distribution and industry best practices.”
For the mortgage field inspectors who work with GIS Field Services, this pledge signifies our promise of ongoing transparency and equitable compensation.
“We want to ensure that your valuable contributions to the industry are acknowledged and rewarded fairly,” says Taylor Gregory, VP of Operations of GIS Field Services.
The efforts behind the NAMFS pledge have already yielded wins, with Fannie Mae and Freddie Mac both electing to increase their inspection allowances. While these are significant strides for the mortgage field services industry, all eyes remain on HUD, which has yet to finalize its allowable increases. HUD is also the agency that the majority of mortgage field services inspections (approximately 80%) are completed under.
As the industry awaits this update, the rollout of pricing increases across the board has been left in a holding pattern. But GIS is already working to re-negotiate pricing with clients in anticipation of the HUD increases.
If you’re thinking about building a future in mortgage field inspections, we hope that our continued dedication to fair compensation will serve as a testament to our values and our commitment to our mortgage field inspectors. Consider becoming an inspector with GIS Field Services today.