Home Mortgages in the United States

Mortgage Default Processing Services

Some mortgage loan lenders and servicers have in-house mortgage default processing service departments, while others outsource this function to law firms that offer internal mortgage default processing services or have relationships with third-party providers of mortgage default processing services. In general, in the United States, the outsourced mortgage default processing services market primarily consists of the back-office operations of approximately 350 local and regional law firms, and a few multi-state third-party providers. Mortgage lending and mortgage loan servicing firms demand high service levels from their counsel and the providers of mortgage default processing services, with their primary concerns being the efficiency and accuracy by which counsel and the provider of processing services can complete the file and the precision with which loss mitigation efforts are pursued.
Accordingly, mortgage default processing service firms compete on the basis of efficiency by which they can process files and the quality of their mortgage default processing services.

Resources

See Also

• Affordable Home Mortgages
• Home Loan Banks
• Home Office Protection Law
• Federal Home Loan Banks
• Chattel Mortgages
• Home Mortgage Disclosure Act Of 1975
• Mortgage

Further Reading

• Information about Home Mortgages in the Gale Encyclopedia of American Law.