The recent increase in mortgage delinquencies and foreclosures has brought significant attention to the costs of foreclosure to homeowners, communities, and mortgage industry participants. Although the impact of foreclosure on homeowners and communities is apparent, some confusion still exists about the impact on industry participants, particularly lenders, servicers, and investors. Foreclosure is a lengthy and extremely costly process and, generally, a losing financial proposition for lenders and investors. The MBA has released a paper detailing these costs (see link below).
|Issues Update |
|Date || |
|5/28/2008 ||MBA Policy Paper: Lenders' Cost of Foreclosure |
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