Office Space For Lease

Mortgage delinquencies and mortgage foreclosures are slowing down significantly.

The banks and their largest national and regional mortgage field servicing firms are seeing huge changes. Most of the lower-level Order Mills are seeing much less work. Lower-level Order Mills are disappearing … and without paying their workers.

The largest national and regional mortgage field service firms are cutting temporary workers and some of their regular staff. Company mergers are happening as their mortgage business slows. Some of these firms will be leasing their unused office space. Safeguard Properties purchased Bank of American Field Services at the top of the cycle of mortgage delinquencies and mortgage foreclosures … they missed the change of trend … they paid too much for the servicing operation. The good old days are gone for all of the large national and regional mortgage field service firms.

Bank of America stock keeps pushing higher as they get rid of bad loans. Loan performance improved, with the number of first mortgage loans that are 60 or more days delinquent falling 19 percent quarter-over-quarter and 57 percent year-over-year.

The mortgage delinquencies and mortgage foreclosures cycle has ups and downs. The cycle is in a down mode right now. Mortgage mortgage delinquencies and mortgage foreclosures are trending back to the “normal”. That means big cuts in mortgage field service jobs. The good old days are gone … at least for right now. They will be back in 10 years … just wait! The mortgage segment is dead for right now!