Expert Mortgage Assistance Blog


Categories

While both Short Sale and Foreclosure are regarded as default management in mortgage and are both fundamentally similar, short sale and foreclosure have their own vices and virtues. Lenders must take prudent decisions and factor in their fiscal benefits while opting among these default management services. Short sale as a mortgage default process is a win-win strategy for both a lender and the homeowner where the former gets to recover a part of their investments…

Following the 2008 financial crisis, the U.S. mortgage industry saw an unprecedented spike in mortgage defaults, bringing default mortgage servicing under heavy scrutiny. Since then, default servicing in mortgage has also been subjected to various government-mandated programs such as HAMP and HARP, industry regulations, settlements, procedure updates, and more. These have resulted in a messed-up mortgage landscape marked by inefficient processes, disparate systems, and high operational overheads, thus hitting the bottom line of the lenders…