CFPB Examines Mortgage Servicers’ Response to Pandemic

On May 16, 2022, the CFPB published a metrics report examining mortgage servicer’s responses to the COVID-19 pandemic. The data, collected across 16 large servicers from May through December 2021, show that homeowners are facing challenges connected to working with their mortgage servicers. CFPB Director Rohit Chopra marks that the CFPB will be closely monitoring mortgage servicer performance to ensure that they are meeting their obligations under the law.

Key findings from the report include: