January 25, 2013 at 16:00 PM EST
Banks To Specialty Mortgage Servicers: Take My Loans
Most big mortgage lenders seem to have gotten the same memo: Your bedside manner stinks. For that and other reasons, the biggest banks continue to sell off the portions of their portfolios requiring them to service mortgage loans, especially loans for which the borrowers are under stress. On the receiving end are independent mortgage servicers, specialists in dealing with mortgage customers -- and with problem loans in particular. Bank of America
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