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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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Ocwen Reports on Success of Customized Loan Modification Program

15 December 2008

November Foreclosures Decrease 7 Percent from Last Month; Increase 28 Percent from Last Year

11 December 2008

TransUnion.com: Mortgage Delinquency Rates Rise for Seventh Straight Quarter

8 December 2008

Unexpected Increase in Mortgage Applications

26 November 2008

Weakness Broadens Across U.S. Housing Market as Credit Crunch, Economy Take a Toll

24 November 2008

Hyland Software Partners with Ocwen Financial Corporation

13 November 2008

Government Rolls Out Program for Mortgage-Holders in Trouble

12 November 2008

Radian Swings to Profit in Q3; Sherman Stake Contributes $16 million

5 November 2008

Global REIT Markets Continue to Cope With the Financial Storm

31 October 2008

September Foreclosures Up 21 Percent from Last Year, Down 12 Percent from Last Month

23 October 2008

Servicing Loans Crucial to Success of the Bailout Plan

9 October 2008

CRA Not to Blame for Economic Crisis

7 October 2008

Bailout Gives Government 60 Day Ultimatum to Help Homeowners

6 October 2008

Consumer Loan Delinquencies Up Slightly in Second Quarter 2008: ABA

3 October 2008

Government Moves to Buy Bad Debt to Shore Up Markets

19 September 2008

Nomis Solutions Acquires Perspecta, LLC

16 September 2008

Foreclosure Activity Increases 12 Percent In August

11 September 2008

Washington Mutual Shares Trade at 17-Year Low as Regulator Monitors

11 September 2008

TransUnion: Mortgage Loan Delinquency Rates Rise For Sixth Straight Quarter

9 September 2008

Experian Research Highlights the Effects of the Mortgage Meltdown on Small Businesses

8 September 2008

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