X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Forbearance word from wooden letters. Source: Adobe Stock

In-house mortgage loan servicing is an important revenue source for credit unions and an excellent way to provide the exceptional member service required to earn loyalty. Mortgage servicers must comply with changing regulatory requirements while meeting members’ needs. Mortgage servicing software and web applications help credit union servicers meet forbearance-related servicing requirements.

As credit unions move into 2022, they must develop new processes and programs to assist members impacted by the COVID-19 pandemic. Since the disease struck in early 2020, 9.3 million mortgages were in forbearance at some point, allowing homeowners to pause their mortgage payments for up to 18 months. Most people have exited forbearance, but 1.4 million homeowners were still in forbearance as of Sept. 26, 2021.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Dig Deeper

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.