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The Covid 19 pandemic has caught lenders unaware in many ways. Unwarranted delays in processes and strained relationships with borrowers, are the two most common things that lenders have to grapple with as a fallout of the crisis. To top it, the interest rate cuts prompted a deluge of loan requests and lenders are unable to cater to them because of shortage of manpower. This article will throw light on the most critical mistakes made…

The Covid-19 era has hit the mortgage industry on all sides – operations, finance, foreclosures, customer service, and more. The growing instances of unemployment, fewer income opportunities, and rising costs of living have impacted millions of lives, including mortgage borrowers. As the financial scenario across the U.S. deteriorates, borrowers find it exceedingly difficult to make timely mortgage payments, and lenders are getting a rising number of mortgage loss mitigation requests. Lenders are forced to come…