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
Skip-Tracing Company Announces New Quality Right-Party Contact Solutions
18 August 2011
Experian: Credit Card Delinquencies Down, Late Mortgage Payments Up
12 August 2011
Varolii Introduces New Solution to Manage Single Point of Contact Requirements for Mortgage Providers
20 July 2011
JP Morgan Chase Profits Rise 13 Percent
14 July 2011
Florida Scam Artists (and a friend in Pittsburgh) Defraud Seniors in Reverse Mortgage Game
12 July 2011
Texas Court Upholds FDCPA Claim Against Collection Agency
6 July 2011
New White Paper on Hiring Top Collector Talent
24 June 2011
S&P/Experian Credit Default Indices Show Decreases in Default Rates in May
22 June 2011
TransUnion Selected by BlackRock Solutions as Data Provider for Borrower Level Analysis
21 June 2011
A Foreclosure Case With Far-Reaching Repercussions for the ARM Industry
26 May 2011
Pay Attention to Changes in Hierarchy of Debt Payments
19 May 2011
TransUnion: National Mortgage Loan Delinquencies Continue to Improve in First Quarter of 2011
16 May 2011
Banks Offer $5 billion to Settle Robo-Signing Probe: Wall Street Journal
11 May 2011
When Suze Orman Told Me to Abandon My Mortgage
10 May 2011
FTC Panel 4: That Time My Mind Was Blown or Is Email Considered Mail?
28 April 2011
Global Debt Registry Responds to CBS 60-Minutes Segment on the Failure of Documentation in Mortgage Backed Securities
8 April 2011
Your Ad Here: Marketing in the age of desperate people
7 April 2011
EVPH Completes First Debt Buying Transaction With National Servicing Corporation
31 March 2011
Tracking Down Strategic Defaulters to Collect the Second Mortgage Lien
29 March 2011
Wells Fargo Loses Mortgage Discrimination Case
24 March 2011