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CFPB headquarters. CFPB headquarters. (Source: Shutterstock)

The CFPB said Thursday that the agency expects mortgage servicers to assist millions of homeowners as pandemic protections end and will closely monitor efforts to help borrowers remain in their homes.

“There is a tidal wave of distressed homeowners who will need help from their mortgage servicers in the coming months,” Acting CFPB Director Dave Uejio said, as the agency released its expectations for servicers. “Responsible servicers should be preparing now. There is no time to waste, and no excuse for inaction.”

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David Baumann

Credit Union Times

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