Since mortgages are the most secured of any loan type (a lender can foreclose on a house if the loan defaults), collection agencies generally don’t get much mortgage collection work. But there is one large exception: deficiency balances. If a lender approves the sale of a house for less than what is owed by the borrower, the difference is a deficiency balance. In the ongoing morass of the housing market, short sales are commonplace. Lenders will typically forgive deficiency balances. If they do not, that amount enters the ARM process and can find its way to debt collectors.
Filter by Location
Leading Mortgage Servicer Ocwen Sees Delinquencies Flatten Or Decline
5 September 2008
Zetabid Auctions Make It Easy To Buy Bank-Owned And Builder-Owned Homes In The U.S.
27 August 2008
Mortgage Fraud Reports Jump 42 percent in US, MARI Finds
26 August 2008
Franklin Credit Management Receives Notice of Delisting From NASDAQ
25 August 2008
DebtX to Sell $292 Million in Residential Real Estate Loans
20 August 2008
Minority Owner Sells Stake in Sherman Financial for $209 Million
15 August 2008
Home Foreclosures Up 55 Percent in July: RealtyTrac
14 August 2008
Bank Losses on Housing Total $500 Billion
13 August 2008
Debt Buying Giant Sherman Sees $296 million in Revenue in Quarter
11 August 2008
Fannie and Freddie Lose Total of $3.1 Billion in Quarter
8 August 2008
Ocwen?s Debt Collection Unit Posts Loss in Q2 as NCI Integration Continues
6 August 2008
Turning Around the Negative Trends in the Mortgage Industry
31 July 2008
Covered Bond Market to be Expanded to Fund Mortgages
29 July 2008
Foreclosure Activity Surges in Second Quarter: RealtyTrac
25 July 2008
Federal Grand Jury Investigating Three Mortgage Lenders
25 July 2008
ChargeSmart Establishes Headquarters in San Francisco
24 July 2008
U.S. House Approves Mortgage Bill to Protect Fannie and Freddie
24 July 2008
Mortgage Meltdown: Next Steps Coming Soon in Rescue of Fannie, Freddie
22 July 2008
Executive Change: ProVest Names Jim McDermott Vice President of Operations
15 July 2008
Mortgage Payments Could Make Credit Card Balances Soar
15 July 2008