REO & Field Services.(Brief Article)

As evidence piles up that the economy is finally getting on track, we can stop worrying about foreclosure and REO problems, right? Wrong. Most people in the mortgage servicing industry probably got the right answer to that question ven as economic statistics suggest a rebound may be taking hold, the job market remains weak and expectations are that the rate of home price appreciation has slowed.

That adds up to a potential increase in the number of properties that will come back to a lender through foreclosure, deeds-in-lieu and other circumstances. Delinquency rates are hardly at an alarming level, but the growth in nontraditional mortgage products and the increasing frequency of underwriting exceptions mean there are probably more wobbly loans out there than might have been the case in the past. Until recently, the number of loans in foreclosure was at a record high, ...