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.

See all Topics
AdobeStock-fintech-finance-technology-data-cloud-security-payments.jpeg

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

19 October 2017

pixabay-report-study-analysis-analyze

TransUnion Finds Struggling Consumers Pay Off Unsecured Personal Loans First

17 May 2017

pixabay-taxes-economy-irs

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

2 February 2017

pixabay-cell-mobile-phone-tcpa

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

7 December 2016

pixabay-mortgage-home-house.jpg

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

8 November 2016

pixabay-mortgage-home-house.jpg

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

7 November 2016

AdobeStock-judge-court-decision-lawyer-argument-decide

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

3 November 2016

pixabay-baseball-umpire-safe-game

FDCPA Safe Harbor Buried within CFPB Mortgage Rules

11 August 2016

pixabay-international

Phillips & Cohen Associates to provide Mortgage Administration Services

8 August 2016

AdobeStock-settle-case-lawsuit

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

11th Cir. Upholds Dismissal of FDCPA, FCCPA Complaint for Failure to State Claims

10 March 2016

Motion Granted for Debt Collector in FDCPA Bona Fide Error Case

10 February 2016

2nd Circuit Rules Bankruptcy Code Does Not Preclude FDCPA Suit in District Court

28 January 2016

Another Positive TCPA “Prior Express Consent” Case

27 August 2015

Massachussetts Division of Banks Issues Results of Regulatory Review

21 August 2015

Second Circuit Holds Servicing Transfer Notice Not Exempt from FDCPA

20 August 2015

CFPB's First Monthly Complaints Report Could Use More Context

16 July 2015

U.S. Supreme Court Holds Chapter 7 Debtor Cannot ‘Strip Off’ Wholly Unsecured Junior Mortgage

2 June 2015

CFPB and FTC Settle Debt Collection Charges with Mortgage Servicer for $63 million

22 April 2015