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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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Foreclosures Could Cost $25 Billion Next Year

24 October 2007

Lawmakers Ponder Nevada Foreclosure Crisis

23 October 2007

WaMu Cards? Receivables Rise as Income Drops

18 October 2007

Spain Next to Feel Housing Decline: Coface

18 October 2007

Paulson: Housing Getting Worse, Banks Should Help Themselves

17 October 2007

Subprime Will Be Back: Analyst

5 October 2007

Firm Helps Home Lenders Find Solid Risks

21 September 2007

Some Lenders More Willing to Foreclose

13 September 2007

Fannie Mae Expects Multiple Fed Rate Cuts

12 September 2007

Senator Proposes Fannie, Freddie Fix to Subprime Problems

12 September 2007

Mortgage Softness Hits Indymac Bank

11 September 2007

Subprime Storm Hurts WaMu, Bypasses Wachovia

10 September 2007

Mortgage Delinquencies and Foreclosures Up Big in Q2

7 September 2007

MGIC and Radian Deal Off, Sherman Impact Unclear

5 September 2007

Subprime Woes Change Face of Collections

28 August 2007

Subprime Meltdown Could Spur More Third-Party Collections: Analyst

27 August 2007

More Mortgage Lenders Announce Cuts and Closures

23 August 2007

Major Lenders Laying Off Thousands

21 August 2007

Subprime Lender NovaStar Cuts 37 percent of Workforce

17 August 2007

California and Ohio Cities Account for 10 of Top 20 Metro Foreclosure Rates

14 August 2007

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