I think what newbiz is inquiring about is trustee work (he calls a foreclosure company). Per statutes for most states, lenders cannot foreclose on their loans. they must use the services of a trustee. Sometimes a lawyer, sometime not. Fees that trustees charge are also limited to what the laws allow. The are countless trustees in the state of California. Some are quite large and handle foreclosures in multiple states, and some are small mom and pop shops that just get a few files a month. Usually, the small start-ups are run by ex-employees of larger trustee firms, who try to branch out on their own. You can get more info on the website for the United Trustees Association. (formerly the CA Trustees Assoc.) Most if not all large lenders have their own in-house trustee to handle their foreclosured loans. Just another money making dept for lenders. Ironic that they even make money on their own defaulted loans. Go figure. Porkman
