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CFPB gives mortgage servicers third degree

The Consumer Financial Protection Bureau (CFPB) is fulfilling its promise to scrutinize mortgage servicers, and some servicers are riding the forbearance exit wave better than others.

In a new report, which drew on data from 16 mortgage servicers from December 2020 to April 2021, the CFPB found a marked increase in the share of borrowers exiting forbearance and becoming delinquent without any loss mitigation in place. The report also showed that some servicers are keeping up with the high call volume, while others are struggling to do so, causing higher wait times for some borrowers.

In a statement, the CFPB’s acting director, details ⇒

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