Only a quarter of respondents living in medium-risk flood areas who participated in Fannie Mae’s Flood Survey were familiar with government-backed flood insurance plans, what they cover, and—more specifically—what they don’t cover.
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Servicers’ Attention to Small Pool of At-Risk Borrowers Negatively Impacts Satisfaction
At-risk customers, those that J.D. Power defines currently behind in their mortgage payments or concerned about keeping current during the next year, represent only 15 percent of the survey respondent pool. This small group has been the center of regulatory and other government agencies such as the Consumer Financial Protection Bureau (CFPB), Fannie Mae, and Freddie Mac.
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