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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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FHM Mortgage Group Announces Partner Program with Collection Agencies

10 July 2008

Foreclosure Activity Decreases 3 Percent In June According To RealtyTrac

10 July 2008

New Program Allows Consumers to Pay Mortgage with Credit Cards

10 July 2008

Fortes Financial Secures National City Mortgage Wholesale Division

8 July 2008

RealtyTrac Partners with Coldwell Banker to Provide Foreclosure Data

3 July 2008

ProVest Opens Maryland Branch to Assist With New Legislative Demands

1 July 2008

CIT Sells Home Lending and Housing Units for $1.5 Billion

1 July 2008

Fiserv Unveils Tools to Keep Borrowers in Their Homes as Delinquencies Reach Record Levels

26 June 2008

Ocwen Financial Adopts Hope Now Alliance's Guidelines for Distressed Homeowners

25 June 2008

Housing Market Still Sick in April

24 June 2008

Connecticut Marshals Gross Big Bucks as Foreclosures Grow

23 June 2008

RealtyTrac and Bid4Homes Team to Provide Online Auction Marketplace

20 June 2008

Feds Charge 400 in Mortgage Fraud Operation, 2 Hedge Fund Managers Indicted

20 June 2008

UK Mortgage Lender Hiring Debt Collectors Amid Massive Layoffs

19 June 2008

Executive Change: GMAC ResCap Names Thomas Neary to Senior Management Team

19 June 2008

Executive Change: W.J. Bradley Names New Chief Financial Officer

17 June 2008

Foreclosure Activity Increases 7 Percent in May

13 June 2008

Mortgage Loan Delinquency Rates Rise For Fifth Straight Quarter: TransUnion

11 June 2008

Economic News Shows People Losing Homes and Jobs in Record Numbers

6 June 2008

Minnesota Bill to Defer Foreclosure Sales Waits on Gov.?s Signature

29 May 2008

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