Out from Pleasantville, we have outsourcing and mortgage brokers replacing the good old days of the neighborhood banker.
And, servicers.
That bean counter pressure again. Mortgage companies came to believe that not only the origination, but the servicing, keeping track of the taxes and insurance, cashing the checks, doing the accounting, allocating the payments between principal [...]

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My sources tell me that debt collectors are hurting because falling home prices and tighter home lending standards are resulting in few refinances:  fewer refinances mean fewer judgment liens are paid off, and debt collectors suffer.  Funny how connected the world is.
If you liked that post, then try these…Man Sued By FIA Card Services In [...]

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I met a shopper at the checkout stand
Who said: A vast and empty tower of glass
Stands in the city. Near it, on the sand,
Half ignored, a shattered sign that neon-shown,
With bright promise of an easy payment plan,
Tells that its founders well our passions read
Which yet survive, stamped on this lifeless thing,
The hand that signed the [...]

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Many years ago, a colleague was in a meeting with an elderly woman, who needed to file bankruptcy. He meticulously and thoroughly discussed the process of filing bankruptcy with her, and thought he had covered everything. Then, as she was walking out the door, she stopped and said, “Okay, but I don’t want [...]

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Recently, I read an article published by bankrate.com which included significant misinformation about consumer bankruptcy. The article erroneously reports that a Chapter 13 personal reorganization bankruptcy appears on one’s credit report for a period of 7 years from the date the case is completed. It warns that someone who successfully completes a Chapter [...]

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