From HW Magazine
Servicers respond to shifting demands of property preservation
After years of historic default and foreclosure activity, servicers are finally able to see past the wreckage that devastated their portfolios during the housing crash. With one in 10 mortgages entering default between 2007 and 2010, these firms had no choice but to call on outside help to manage a tidal wave of REO properties and the field services work required to keep those assets from deteriorating before they could be sold back into the market. It was a challenging time to be in the real estate business.