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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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Executive Change: William P. Foley, II to Retire as Chairman of Lender Processing Services

5 March 2009

TransUnion.com: Home Loan Delinquency Rates Rise for Eighth Straight Quarter

3 March 2009

Mortgage "Cramdown" Rules Could have Major Impact on Debt Buyers

25 February 2009

JPMorgan Chase?s Dimon Supports Mortgage Modification Plan

19 February 2009

Debt Buyers Eagerly Eyeing Treasury Department?s Recovery Plan

13 February 2009

Foreclosure Activity Decreases 10 Percent in January

12 February 2009

Many Home Buyers Need Higher Loan Limits, Upper-End Stalled

16 January 2009

Delisting of Securities of Franklin Credit Management Corp. From The NASDAQ Stock Market

16 January 2009

Foreclosure Activity Increases 81 Percent in 2008 According to Realtytrac

15 January 2009

Fannie Mae Extends Foreclosure Sale and Eviction Suspension

9 January 2009

Bankrate: Mortgage Rates Flirt with Record Lows

9 January 2009

Auto Loans, Home Equity Delinquencies Rise in Third Quarter 2008: ABA

8 January 2009

Navy Federal Credit Union Commits $6 Billion for Mortgage in 2009

5 January 2009

Repeat Failures on Home Loans Reveal Faulty Modifications

23 December 2008

Ocwen Financial Corporation Announces Plan to Spin Off BPO and ARM Operation

22 December 2008

Stag-Deflation Threatens, Fed?s 0% Rate Beckons Homeowners

22 December 2008

Illinois AG Sues Chicago Lien Filing Service For Fraudulent Practices

18 December 2008

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

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