Mortgage Inspectors With “Chicken Eye”

About 15 years ago, mortgage inspectors were paid about 300% more for mortgage inspections and they did not perform any of the online data processing. They simply completed a short paper inspection form and mailed or faxed the form to their customer. Their customer did all of the data processing. Photos were seldom required and when required consisted of one or two Polaroid photos.
Today the mortgage inspection averages about $3 and requires 7 digital photos. The photo must be labeled with an address. The meta data must included a date/time/lat/long imprint. Reports are usually completed online and the 7 digital photos for each inspection are uploaded. Inspectors will need to manage 700 digital photos for every 100 inspections. Mortgage inspectors must travel on icy and snow covered roads as they will not be paid for late inspections. They will not be paid for late inspections, and on top of that, they will also be penalized for a late inspection.

About 15 years ago, a mortgage field inspector had ZERO start-up costs and was paid about 300% more than today. Today, the mortgage field inspector pays about $1,265 (background check plus insurance) upfront before performing the first $3 mortgage inspection.  After expenses and taxes, the mortgage field inspector will earn about $1.50 in profit while they gradually wear out their car. After working in the field all day, mortgage inspectors will burn the mid-night oil processing reports and uploading digital photos. They soon develop “chicken eye” which is extreme redness around both of the eye sockets. Most mortgage inspectors suffer from “chicken eye”. It’s an occupational hazard for mortgage inspectors.

The mortgage inspector finds out after about three weeks that they are not making any money and they quit.  Fortunately, “chicken eye” is usually reversible once the late evening data processing ceases.

I suggest you avoid the $3 mortgage inspections with $1,265 in start-up costs and knowing that you will develop “chicken eye”. Commercial inspections ($20 – $60 +) are the sweet spot in the field services industry.

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