Estimated reading time: 0 minutes, 27 seconds

CFPB Warns 'Lagging' Mortgage Servicers

The Consumer Financial Protection Bureau has called out mortgage servicers that it sees as poorly performing compared to their industry peers.

CFPBAccording to a new CFPB report, some outlying mortgage servicers’ call centers averaged 10 minute hold times and 30% call abandonment rates.

CFPB Director Rohit Chopra said in a statement, “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.”

Read the full announcement from CFPB. 

Read 358 times
Rate this item
(0 votes)


click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.