A tidal wave of distressed homeowners is coming

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The backlog of loans in forbearance threatens to overwhelm mortgage servicers.

“There is a tidal wave of distressed homeowners who will need help,” Dave Uejio, the CFPB’s acting director, said in a statement. “Servicers who put struggling families first have nothing to fear from our oversight, but we will hold accountable those who cause harm to homeowners and families…”

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