Mortgage bankers are experiencing a dramatic increase in new servicing hires and loss mitigation staff in order to handle the tidal wave of delinquencies sweeping the nation.

Speaking at SourceMedia's Best Practices in Loss Mitigation Conference in Dallas, Stephanie Lowe, vice president for special servicing and loss mitigation for GMAC Financial Services, said her company has added more than 500 employees and developed a technology system in-house to deal with bulk decisions.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.