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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Credit Suisse Unit Sues Subprime Mortgage Lender
2 April 2007
Fed Says Subprime Mortgage Problem "Contained"
29 March 2007
Debt Resolve Launches Subprime Mortgage and Auto Loan Collections Tool
29 March 2007
Delinquencies on Credit Cards Flat in Q4; Auto and Home Equity Arrears Rise
29 March 2007
Equifax Mortgage Solutions Announces Acquisitions and Expanded Product Offering
28 March 2007
ISGN Acquires Assets from Fair Isaac's Mortgage Banking Unit
26 March 2007
Wells Fargo Claims No. 1 Position as Nation's Retail Mortgage Lender and Servicer
22 March 2007
Citigroup Buys $676 million Fannie Mae LIHTC Portfolio
19 March 2007
National Association of Realtors Calls for FHA Changes
16 March 2007
Community Group Urges Lending Reform
16 March 2007
Subprime Lender Accredited to Sell $2.7 billion in Loans
16 March 2007
Government May Punish Subprime Lenders
15 March 2007
Government May Punish Subprime Lenders
15 March 2007
Government May Punish Subprime Lenders
15 March 2007
Subprime Loan Worries Hammer Stocks Tuesday; Delinquency Rate Near 5%
14 March 2007
Austin Logistics Adds Mortgage and Auto Finance Sessions to Annual Conference
13 March 2007
Government Urges Caution on Subprime Rates
5 March 2007
Creative Mortgage Lending Introduces Nonprime Standalone Second Program
2 March 2007
Freddie Mac Announces Tougher Subprime Lending Standards
27 February 2007
Mortgage Market Shifts to Snub Bad Credit Applicants
26 February 2007
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