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“Our analysis of credit reports provides yet another indicator that, due to a strong labor market and emergency programs during the pandemic, household financial distress reduced over the last two years,” said CFPB Director Rohit Chopra.

A new repayment plan will allow mortgage servicers to offer homeowners impacted by COVID-19 up to five years to repay past-due property charges.

ATTOM data has found that Mid-Atlantic states, California, and Illinois were more vulnerable to housing market declines in the third quarter.