Sentence examples for collected mortgage from inspiring English sources
Jumana Bauwens, a Bank of America spokeswoman, said that the company had at some point collected mortgage payments for 17 properties whose owners were fined.
State and federal investigations into foreclosure practices found widespread examples of hasty foreclosures, forged signatures and lost paperwork among the companies that collected mortgage payments and monitored homeowner compliance.
Servicers merely collect mortgage bills for a fee.
WASHINGTON — The newly established Consumer Financial Protection Bureau proposed tighter rules on Thursday for mortgage service companies, which collect mortgage payments from homeowners on the lender's behalf.
Mortgage servicers are the firms that collect mortgage payments and manage contributions held in escrow for taxes and insurance, among other duties.
Meanwhile, servicers, whom investors pay to collect mortgage payments from borrowers, often have no incentive to help borrowers find the ultimate holder of a loan, Mr. DelliBovi said.
Several brokers and analysts said the company had not bought the loan simply to collect mortgage payments because the low returns would not have justified the risk.
They possess all the details of the loans, they collect mortgage payments, and their employees interact with borrowers when they fall on hard times.
FINANCIAL TIMES Ocwen Picks Up a Mortgage Lender | Ocwen Financial, which collects mortgage payments, is moving into the business of originating mortgages, after agreeing to pay $750 million to acquire Homeward Residential Holdings, The Wall Street Journal reports.
Many mortgage servicers — lenders and private companies that collect mortgage payments on behalf of investors — have been reluctant to modify at-risk loans, even though the alternative is to foreclose on thousands of homeowners.
Litton Loan Servicing, a Houston company that collects mortgage payments for 400,000 mortgages, many of them subprime, said that in some cases it would be willing to freeze the borrowers' interest rates for up to two years.
