The mortgage industry has forever been a profitable one for banks and lenders. Although it faced occasional challenges, it was able to navigate the roadblocks quicker than most other sectors. However, the Covid-19 pandemic presented itself as an unprecedented crisis for the industry, exploiting its unguarded soft spots and bringing business to a complete halt. The pandemic has caused unexpected spikes in mortgage delinquencies, altered the home purchase scenario, created income losses for homebuyers and…
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