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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CFPB Hits Wells Fargo and JPMorgan Chase for Mortgage Title Kickbacks

23 January 2015

CFPB Releases Toolkit to Help Consumers Shopping for a Mortgage

13 January 2015

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19 November 2014

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3 November 2014

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Consumer Delinquencies Fall Nearly Across the Board in Second Quarter

7 October 2014

CFPB Takes $37.5 Million Action Against Flagstar Bank Over Mortgage Servicing

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Class Action Explores Door Hangers as Collection Communications Under FDCPA

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U.S. Rep. Proposes Sweeping Changes to FCRA, Including Furnisher Mandates

10 September 2014

BofA Wins Dramatic Attorney Fee Reduction in TCPA/Debt Collection Call Class Action

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CFPB, Other Feds, and State AGs Announce $1 billion Mortgage Servicing Action

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16 May 2014

Third Party Debt Collection Accounts Jump in First Quarter

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