General World News

Regulation, forbearance leaves mortgage servicers in a bind

The COVID-19 pandemic has caused historic, unprecedented challenges for mortgage servicers. Forbearance deadlines get pushed back seemingly in perpetuity, and an unproven, inconsistent technology infrastructure has the potential to result in a series of foreclosure and loss mitigation crises.

This was one contention made during a panel featuring leaders in the mortgage servicing profession held at HW Annual in Frisco, Texas this week.

“We are talking about a large number of forbearance exits, between 15,000-to-20,000 a day,” said Karthik Kumar, global head of mortgage practice at TCS. “CFPB has given clear guidance saying [servicers must be] proactive, and details ⇒

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