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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Lively Debt Collection Debate Likely in House Fin. Servs. Committee Hearing Tomorrow

25 September 2019

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11th Cir. Rules in Favor of Mortgage Servicer in FCRA Putative Class Action Related to Reasonable Investigations

4 June 2019

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U.S. Supreme Court Holds that Law Firms Performing Nonjudicial Foreclosures are Not Debt Collectors

20 March 2019

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Three Lessons for Debt Collectors from the CFPB’s Latest Supervisory Highlights: Amount Owed Accuracy, Disclosures, And Payment Dates

13 March 2019

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CFPB Publishes its Fall 2018 Semi-Annual Report: Credit Invisibility, Mortgage Shopping, Consumer Complaints, and a Laundry List of Enforcement Actions

27 February 2019

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Sixth Circuit: “Cease” Requirement Includes Third Party Activities Put Into Action by Debt Collector

14 January 2019

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Supreme Court Split in Unexpected Ways During Oral Arguments for Obduskey v. McCarthy & Holthus LLP

10 January 2019

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BCFP Files Amicus Brief in U.S. Supreme Court Case, Concludes Law Firm Did Not Engage in Debt Collection by Initiating Nonjudicial Foreclosure

19 November 2018

TransUnion Report Reveals Current Consumer Credit Trends, Including 20.3 Million More Accounts

5 March 2018

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Could CFPB’s Data Sharing Principles Make Debt Collection Better Too?

19 October 2017

TransUnion Finds Struggling Consumers Pay Off Unsecured Personal Loans First

17 May 2017

1st Cir. Holds IRS 1099-A Forms Did Not Violate Discharge Injunction

2 February 2017

FCC Denies MBA’s Petition to Exempt ‘Servicing Calls’ from TCPA

7 December 2016

4th Cir. Holds Foreclosure is FDCPA ‘Debt Collection,’ Mere Servicer Need Not Provide TILA Notice of Assignment of Loan

8 November 2016

Fla. App. Court Holds FCCPA’s Notice of Assignment Requirement Applies to Mortgagees, But Not Condition Precedent to Foreclosure

7 November 2016

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9th Cir. Holds Foreclosure Trustee Not FDCPA ‘Debt Collector’

3 November 2016

FDCPA Safe Harbor Buried within CFPB Mortgage Rules

11 August 2016

Phillips & Cohen Associates to provide Mortgage Administration Services

8 August 2016

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Wells Fargo Will Pay $16.3 Million to End TCPA Suit

30 June 2016

Florida’s Third DCA Reverses Course on Statute of Limitations for Mortgage Foreclosure

25 April 2016