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CFPB report highlights outliers doing a poor job servicing

The Consumer Financial Protection Bureau (CFPB) published a report this week looking at how servicers fared in the second half of 2021. The report said that on average, servicers improved their call metrics, but that some servicers continue to lag behind in assisting borrowers.

According to the report, which examined data provided from 16 undisclosed servicers, call metrics, including the average time it took for servicers to answer and abandonment rates, varied greatly from servicer to servicer.

From May 2021 to December 2021, servicers reported that the average speed to answer a borrower’s call after it entered details ⇒

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