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Mortgage servicing issues include a wide array of policy interactions across governmental agencies and other industries (e.g. insurance). Though it is often considered a highly procedural and compliance-based endeavor, servicing operations are affected by both economic and physical threats to assets. Hot topic issues include natural disaster response, flood insurance policy, and servicing government loans.
RESOURCE: Visit our Coronavirus Resource Center for information resources from the health/disease control agencies, recommended business continuity plans, relevant information from financial regulatory agencies, as well as guidance on how companies should communicate with employees, their customers and the public.
Consumer Resources (Added 11/10): MBA, along with a broad coalition of financial services stakeholders - including mortgage servicers, trade associations, housing counseling agencies, governmental agencies, and think tanks - launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act or other forms of mortgage payment relief. Get the ads.