CFPB issues report on differences between large and small mortgage servicers

This story appeared in Bank Digest.

The Consumer Financial Protection Bureau has released a report examining the differences between large and small mortgage servicers. The report found that smaller servicers, such as community banks and credit unions, play an outsize role in rural areas, that the loans they service are less likely to be sold to Fannie Mae or Freddie Mac or to be government-backed, and that during the financial crisis they experienced lower delinquencies.