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Mortgage Servicers Prep for End of COVID-19 Bailout Programs

U.S. mortgage servicers are readying for a surge in delinquent loans as the government’s bailout programs finally expire in September and early October. So reports CNBC.

Mr cooperBlack Knight estimates that mortgage servicers could be grappling with roughly 15,000 troubled loans per day.

Mr. Cooper CEO Jay Bray said the company was hiring and shifting staff away from originations to prepare for the deluge.

Read the full article from CNBC.

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