Posted by Ken R on November 03, 2009 at 10:17:17:
In Reply to: Can I collect late fees if I've sold the paper? posted by Rich on October 30, 2009 at 12:31:48:
How would that even be practical? Unless we negotiate for full
recourse on the portfolios we buy, the seller is totally out of the
transaction from that point on. Would you also expect to share in the
PD premiums as well? There are real costs associated with servicing
and there are real costs to any complicated sharing that requires
writing checks to anyone else. If it adds, which it will, $10.00 to the
cost to write and mail that check, most late fees become not worth
collecting.