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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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Weltman, Weinberg & Reis Expands Real Estate Default Group Leadership

10 February 2011

Bank of America Suing Collection Agencies in Foreclosure Mess

4 February 2011

S&P/Experian Indices Show Rise in Mortgage Defaults

22 December 2010

Foreclosure Homes Account for 25 Percent of All Q3 2010 Residential Sales: RealtyTrac

2 December 2010

National Home Loan Delinquencies Experience Largest Quarterly Decline Since Fourth Quarter of 2006

22 November 2010

Mortgage Servicers Under the Congressional Microscope

18 November 2010

Consumers Are Paying Less on Monthly Payments than Three Years Ago: Experian

12 November 2010

New York Fed Q3 Report on Household Debt and Credit Shows Continued Decline in Consumer Debt

9 November 2010

Foreclosure Gate and Robo-Signing Leaves ARM Industry Vulnerable

5 November 2010

TransUnion: Mortgage Delinquency Roll Rates Peaked in Summer of 2009

2 November 2010

NCCI Expands into Property Inspection/Occupancy Verification Service

27 October 2010

S&P/Experian Index Shows Default Rates Decline Across All Credit Lines

20 October 2010

Global Debt Registry Response to Obama Administration's Call for a Solution to Mortgage Industry Crisis

19 October 2010

Executive Change: Harvest Strategy Group Announces Senior Officer Appointments

13 October 2010

Strategic Mortgage Defaults and the Broader ARM Impact

11 October 2010

Executive Change: Audra Agen to NCCI as National Account Manager

23 September 2010

Home Foreclosure Activity Increases 4 Percent In August: RealtyTrac

16 September 2010

Executive Change: Weltman, Weinberg & Reis Co. Welcomes Dave Zbozen to Real Estate Default Group

15 September 2010

Texas AG Charges Home Loan Servicer With Violating Debt Collection Laws

31 August 2010

New York Collection Attorneys Secure Court Victory for Creditor

23 August 2010

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