Phoenix

Will Servicers Be the Next Victim of the Housing Crunch? 

Reuters’ Al Yoon hits it out of the park today on the trouble that likely lies ahead for many of the nation’s servicing shops, both large and small: “If they are not careful, servicers may be the next in line” to follow dozens of failed mortgage lenders, said Rick Smith, chief executive officer of Marix Servicing LLC in Phoenix, Arizona. “They are not getting more loans, but need twice as many people. How long can you operate at a negative cost of service?”