“While many mortgage servicers are successfully assisting borrowers to avoid foreclosure, today's report highlights that some servicers are lagging their peers and are less well-equipped to assist borrowers who have exited pandemic housing protections,” said Rohit Chopra, CFPB Director.
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GAO: Keep an Eye on Nonbank Servicers
Nonbank servicers are now servicing nearly a quarter of all residential mortgage loans in the country.
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