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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S&P/Experian Credit Default Indices Show Drop in First Mortgage, Credit Card Defaults
16 March 2011
TransUnion: Improvement in National Mortgage Loan Delinquencies Slows During Final Quarter of 2010
17 February 2011
Weltman, Weinberg & Reis Expands Real Estate Default Group Leadership
10 February 2011
Bank of America Suing Collection Agencies in Foreclosure Mess
4 February 2011
S&P/Experian Indices Show Rise in Mortgage Defaults
22 December 2010
Foreclosure Homes Account for 25 Percent of All Q3 2010 Residential Sales: RealtyTrac
2 December 2010
National Home Loan Delinquencies Experience Largest Quarterly Decline Since Fourth Quarter of 2006
22 November 2010
Mortgage Servicers Under the Congressional Microscope
18 November 2010
Consumers Are Paying Less on Monthly Payments than Three Years Ago: Experian
12 November 2010
New York Fed Q3 Report on Household Debt and Credit Shows Continued Decline in Consumer Debt
9 November 2010
Foreclosure Gate and Robo-Signing Leaves ARM Industry Vulnerable
5 November 2010
TransUnion: Mortgage Delinquency Roll Rates Peaked in Summer of 2009
2 November 2010
NCCI Expands into Property Inspection/Occupancy Verification Service
27 October 2010
S&P/Experian Index Shows Default Rates Decline Across All Credit Lines
20 October 2010
Global Debt Registry Response to Obama Administration's Call for a Solution to Mortgage Industry Crisis
19 October 2010
Executive Change: Harvest Strategy Group Announces Senior Officer Appointments
13 October 2010
Strategic Mortgage Defaults and the Broader ARM Impact
11 October 2010
Executive Change: Audra Agen to NCCI as National Account Manager
23 September 2010
Home Foreclosure Activity Increases 4 Percent In August: RealtyTrac
16 September 2010
Executive Change: Weltman, Weinberg & Reis Co. Welcomes Dave Zbozen to Real Estate Default Group
15 September 2010