Due Diligence Reduces Foreclosure delays

Nemeroff, Evan
November 2011
Mortgage Servicing News;Nov2011, Vol. 15 Issue 11, p17
The article reports on the significance of due diligence in mitigating foreclosure delays in the U.S. mortgage industry. It notes the necessity for lender-servicers to maintain proper documents before issuing a foreclosure notice. It points out that inaccurate paperwork results to lengthy default process. However, it observes that not all banks maintain the right documents and records pertaining to ownership resulting to longer court cases and more delinquent loans.


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