by Moe Bedard
Mortgage servicing is at the heart of the foreclosure crisis. Few people understand the role that servicers play as opposed to the institutions that provide loans (banks and lenders). When critical aspects of problems are not well understood the probability that problems will linger on increases exponentially.
Servicers do not merely accept payments from borrowers, they also play a major role in deciding when to foreclose on homes. As intermediaries between the borrower and the institutions that lend money, servicers clearly play a critical role in the solution to the ongoing crisis.
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by Moe Bedard
Many people in the media and our government are trying to figure out why loan modifications are not working and it is really quite simple to figure out. Yet, here we are almost two years into this foreclosure mess and it’s as if we are all stuck on stupid.
One doesn’t have to look further than [...]
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