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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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Mortgage Fraud Reports Jump 42 percent in US, MARI Finds

26 August 2008

Franklin Credit Management Receives Notice of Delisting From NASDAQ

25 August 2008

DebtX to Sell $292 Million in Residential Real Estate Loans

20 August 2008

Minority Owner Sells Stake in Sherman Financial for $209 Million

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Home Foreclosures Up 55 Percent in July: RealtyTrac

14 August 2008

Bank Losses on Housing Total $500 Billion

13 August 2008

Debt Buying Giant Sherman Sees $296 million in Revenue in Quarter

11 August 2008

Fannie and Freddie Lose Total of $3.1 Billion in Quarter

8 August 2008

Ocwen?s Debt Collection Unit Posts Loss in Q2 as NCI Integration Continues

6 August 2008

Turning Around the Negative Trends in the Mortgage Industry

31 July 2008

Covered Bond Market to be Expanded to Fund Mortgages

29 July 2008

Foreclosure Activity Surges in Second Quarter: RealtyTrac

25 July 2008

Federal Grand Jury Investigating Three Mortgage Lenders

25 July 2008

ChargeSmart Establishes Headquarters in San Francisco

24 July 2008

U.S. House Approves Mortgage Bill to Protect Fannie and Freddie

24 July 2008

Mortgage Meltdown: Next Steps Coming Soon in Rescue of Fannie, Freddie

22 July 2008

Executive Change: ProVest Names Jim McDermott Vice President of Operations

15 July 2008

Mortgage Payments Could Make Credit Card Balances Soar

15 July 2008

Government Seizes Control of IndyMac and its $32 billion in Assets

14 July 2008

Government Looking at Takeover of Fannie, Freddie: Reports

11 July 2008

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