Mortgage Field Services – Job Description
Field Inspection Service Company-NMFS
Independent Contractor – FIELD INSPECTOR
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Job Description & Requirements
Mortgage Field Inspectors personally verify information and fill out reports about residential and commercial properties for financial institutions such as banks, mortgage lenders and insurance companies. They provide visual inspections of mortgaged or leased property. Field Inspectors are typically trained by field service companies like NMFS. Most field service companies do not provide the in-depth training that NMFS provides. Field Inspectors must provide their own equipment. This includes their own vehicle, gas, camera, internet, computer etc,. Field Inspectors are paid on a “fee” per work order basis. No other compensation is provided. Mortgage Field Inspectors are “Independent Contractors who sign an Independent Contractor Agreement.
Duties of a Field (Rep) Inspector
The duties of a Field Inspector vary by the type of inspection, but generally include driving to the property location, performing a visual inspection, taking photos and answering questions on a report.
Field Inspectors often visit the same properties month after month, especially foreclosed properties. Depending on the type of inspection, the Field Inspector may be required to enter vacant properties using a code that opens a lockbox containing a key to the property. Interior inspections require that every room of the dwelling is photographed and damages recorded. Some inspections require that a door hanger or message in an envelope is delivered to the property. NMFS does NOT engage in any type of collection services whatsoever. We do not receive financial information nor do we solicit information of that sort from the homeowner. We are very much like the mailman who delivers a message to the homeowner.
Field Inspectors are the “eyes and ears” for the clients we inspect for. We are the “boots on the ground” so to speak. We will let our clients know if the grass needs cut, or if there is debris that needs removed. We inform our clients if there are liability concerns, and try to point out conditions so that they may send someone to preserve the property. We inform our clients when a property becomes vacant upon inspection by providing proof of its vacancy. This is accomplished by asking and verifying with neighbors, as well as taking photos through the window to show that the property is vacant. Field Inspectors take a lot of photos which should all be at a resolution of 640×480. Some cameras do not have settings that low. In that case an image resizer program can be used to bring the photo down to the required size. Slow internet connections would cause larger photos to take an unreasonable amount of time to transmit.
Requirements and Tools Needed
Field Inspectors need to have basic proficiency with technology, good communication skills, and be reachable at all times during normal business hours. They are Independent Contractors who are required to provide their own vehicle, a computer, and a camera. High Speed Internet is essential for downloading and uploading photos and submitting reports. Inspections are completed on a laptop that is carried with you out in the field, or they can be completed using and Android or iPhone. The Android app is free, the iPhone app is $29 bucks. Your choice. You would also want to invest in a good power converter to provide constant AC to your laptop while in your vehicle. Most Field Inspectors use Microsoft Streets and Trips with GPS to help navigate and route out their road trips. Others just use the GPS in their cell phones or vehicles.
Field Inspectors usually work alone. Although they spend considerable time inspecting residential and commercial properties and structures, inspectors also spend time in their home office reviewing property inspection orders, routing their inspections, answering e-mails and telephone calls, writing reports, and occasionally scheduling appointments for insurance loss inspections.
Many of the properties we inspect are dirty and may be cluttered with debris. Some of the vacant properties we inspect are downright nasty. Although our work generally is not considered hazardous, property inspectors should adhere to safety awareness while conducting inspections. While conducting inspections on vacant properties, you will be required to walk completely around the property, walking through weeds, mud and tall grass. During certain months and seasons, the use of insect repellent may be desired. Air conditioning in your vehicle is always a good thing.
Inspectors normally work regular hours, however, they may work additional hours during periods when several work orders come in at once. Inspectors may have a varied work schedule, at times working evenings and weekends. Normally inspections should take place during the day so that the daylight is utilized for good photos. Often inspectors feel a sense of being rushed when due dates are approaching. Most inspections require a 5 to 10 day turnaround, but some are due the next day. Those who do not handle stress very well may not be well suited for this job.
Field Inspectors come from all backgrounds including, nursing, photographers, home inspectors, electricians, and other trades. Following directions, caring about turning in good work, an eye for detail, and a general business understanding is key. It always helps to be on the anal side, with attention to detail. The perfect candidate will also understand that as an Independent Contractor, sometimes you have to take the good with the bad. Not all the inspections are going to be within 2 miles of your home. Some will be much further away and actually cost you more than the inspection pays. Understanding that in the end, it all balances out will be the only way to be successful in this business.
Inspectors are paid a fee per inspection, not by the hour and not on a salary. As an Independent Contractor you are in charge of your own company, and NMFS becomes your client. This allows you to work for similar companies as NMFS, but never for our clients independent of us. As with most self-employed 1099 Misc income contractors, you are paid 30 days after the last day of the week that you submitted work. This equates to receiving a check every week, after a 4 week period has passed. No taxes are taken out. You are responsible for your own taxes.
NMFS pays by Direct Deposit only. Checking or Savings account required.
Fees Per Inspection
NMFS has a Standard Fee rate that is above the National average for this type of work:
- $5 for Property Field Inspections, (drive-by, vacant, bankruptcy etc.), “Door Hanger” inspections
- $7 for Interior Inspections
- $10 for Loss Draft, Insurance Loss Inspections. (Appiointment Required Inspections) HUD inspections
Our Standard fees are for those areas within 10-15 miles from your location, as well as those areas with higher volume that may be further from you. Some areas may require that you drive further to reach the higher volume areas. Low volume rural areas pay $2 more per inspection.
How Many Inspections, and How Much Money Can You Make?
This question is impossible to answer. In general it depends on where you live and how much volume we have in your area. Some of our reps conduct 70 or more inspections each day, while other inspectors conduct 1 inspection per month. It all depends on where you live and what inspections our clients send us. Our clients are mainly the top national field service companies who lose and gain their own clients in an ever changing and highly competitive environment. NMFS has over 25 clients and growing. However, we may only work for just a few clients in your area. In developing states we may only work for 1 or 2 clients until we get more reps to cover the entire state. Our goal is to provide statewide coverage for our clients.
This may turn out to be the perfect part time job you’ve been looking for. It allows you to make a few extra bucks while developing your own company in the Field Service business. Many of our reps have been with us for several years and have developed very lucrative careers for themselves. Others find out very quickly that they would rather work in a factory or at a fast food restaurant. Only those who have Mortgage Field Services experience will be offered high volume areas. (Unless you convince us otherwise.) We provide online training that can be completed in a short amount of time. It will provide you with the basics to get started. More in depth training will be provided after your initial basic training.
If what you have read so far sounds like something you want to do, please Register with our company and fill out the application by clicking HERE.
If you are still not sure about all this and want to learn more, I would suggest spending $10 bucks at Amazon on a Kindle book entitled Mortgage Field Services: How To Start Your Own Mortgage Field Services Business And Why You Might Not Want To. This is not actually a book to discourage you, but rather gives a good description of the in’s and out’s of the business. Because after all, when you sign up with our company, you are creating your own business and a new line of work.