Reining in foreclosure timelines: Avoiding the high costs of delays

December 2010
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Reining in foreclosure timelines: Avoiding the high costs of delays

At a glance

Millions of loans are currently stalled in loss mitigation and foreclosure, which is exacting a hefty price tag on mortgage servicers.

While mortgage servicers are reeling from expenses related to foreclosure affidavit defects, a more costly threat is poised to batter the industry: extended foreclosure timelines. Millions of loans are currently stalled in loss mitigation and foreclosure. These delays could inflict a hefty price tag on the industry based on the expenses associated with a protracted foreclosure timeline.