Friday, April 30, 2010

Servicing Companies stand to gain more by controlling the outcome

In addition to putting borrowers into default at will, they make vast untold sums of money before the property is foreclosed.

And once they target you, they cannot be stopped. That unlocks a wealth of money-making opportunities. The real money, as many servicing companies are discovering, is in the very lucrative business of targeting the most vulnerable borrowers and squeezing every last penny out of them before throwing them out in the street.

Servicing, the collecting and distributing of mortgage payments, is the land of opportunity.

But even more important, by controlling servicing, they have the ability to actually control the exact number of defaults within specific pools by simply pushing people into default.
Predatory Mortgage Servicing Fraud – First of a Series | RISMedia