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.
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End-to-End Electronic Mortgages Still Years Away
22 February 2007
TrainingPro Mortgage Education Approved in Maine
16 February 2007
Bear Stearns Completes Acquisition of Subprime Mortgage Unit
12 February 2007
NCC Business Services to Offer Automated Debt Collection Services to Property Managers
6 February 2007
Subprime Mortgage Defaults Pass 2001 Peak
6 February 2007
2006 Massachusetts Foreclosure Filings Are Highest in Recorded History
6 February 2007
Banks Acting Earlier to Curb Foreclosures
30 January 2007
E-Loan to Pay Mortgage Workers $13.6 million in Overtime Wages
25 January 2007
Citigroup to Acquire ABN AMRO Mortgage Group
22 January 2007
Barclays to Buy Regions Subprime Unit for $225 million
19 January 2007
Private Equity Creates New Mortgage Servicing Firm
17 January 2007
Repurchases Stinging Subprime Mortgage Sector
8 January 2007
ABN AMRO Sells $1.3 billion in Bad Commercial Loans
3 January 2007
States Warn Mortgage Lenders on Nontraditional Loans
2 January 2007
Study Predicts More Foreclosures on Subprime Mortgages
22 December 2006
MERSCORP Renews Agreement With EDS; Goal to Digitize Mortgage Lending
20 December 2006
Mortgage Opportunities Knocking for ARM Companies
14 December 2006
Late Mortgage Payments Skyrocket in Q3
14 December 2006
Fannie Sues KPMG for $2 Billion Over Accounting Mistakes
14 December 2006
Mortgage Applications Hit Highest Levels in Over a Year
14 December 2006