The mortgage servicing industry has not yet resolved these bad loans.

FORBES: Have All the Bad Loans Already Been Foreclosed?

And if the mortgage servicing industry has not fully dealt with those bad loans, it also means the housing market has not fully absorbed the impact of those bad loans.

FORBES: Have All The Bad Loans Already Been Foreclosed?

The Which report that was published earlier this year didn't paint a rosy picture at all about gas servicing, the gas servicing industry, and in fact said that Corgi should sharpen its claws.

BBC: Frontline Scotland graphic

"It is important we support medium-size companies, together with programs from national development banks, so they can access credit and be suppliers to Pemex, and make sure over the next few years that we develop a strong oil-servicing industry in Mexico that can grow and be regionally competitive, " he said.

WSJ: Mexico Sees Energy as Key to Reset Economy

"It is important we support medium-size companies, together with programs from national development banks, so they can access credit and be suppliers to Pemex, and make sure over the next few years that we develop a strong oil-servicing industry in Mexico that can grow and be regionally competitive, " he said, speaking in English.

WSJ: Mexico Sees Energy as Key to Reset Economy

They want to create their own business servicing the legal industry.

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That spurred numerous regulators that weren't focused on mortgage-servicing issues in the past to scrutinize the industry.

WSJ: Servicers Face More Rules

In 2010 Ocwen disrupted the industry with its Shared Appreciation Modification model, a creative solution for servicing loans that are underwater.

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While most residential-mortgage-loan servicing is concentrated among a few banks, Nationstar is a nonbank servicer, and has said it believes the industry is shifting toward nonbank servicers as banks seek to exit from the business, which can be volatile and capital-intensive.

WSJ: Nationstar to Buy $10.4 Billion in Mortgage-Servicing Rights from BofA