The Consumer Financial Protection Bureau (CFPB) has published a special edition of Supervisory Highlights detailing the toll the COVID-19 pandemic has had on servicers.
Since March, servicers have faced a number of significant challenges due to having to quickly implement the CARES Act and keep up with evolving guidance. Many servicers reported operational constraints, resource burdens and service interruptions to keep up with forbearance requests.
Read on for details from the CFPB.
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