Are Servicers Ready for When Forbearance Ends?

HousingWire, July 23, 2020–Robyn A. Friedman
With the Mortgage Bankers Association reporting that 7.8% of all mortgage loans were in forbearance as of July 12 – translating into 3.9 million homeowners – and delinquencies expected to rise due to job losses and the expiration of government stimulus programs, are servicers capable of handling the increased call volume and responding to the needs of their customers? And what will happen when the moratorium on foreclosures ends and servicers are faced with an onslaught of workout requests?