The veterans of this business can remember when market conditions were ""normal""--when REOs ran in the neighborhood of 150,000 a year, delinquency rates were just around 4 percent, and you only needed a credit score of 620 to qualify for a prime mortgage loan.
But the housing finance industry in the United States, and default servicing especially, has changed. From a slew of new regulatory mandates to an altered public perception of debt obligations, for professionals dealing with delinquent borrowers and distressed assets, business has evolved into something far from customary.
Read more in DS News' ""digital archives"":http://digital.dsnews.com/i/163440.
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