When the housing market crashed and the subprime mortgage bubble burst, servicing operations were on the frontline to mitigate lender and investor losses. It was soon discovered, however, through government and private lawsuits, and investigations, that improper servicing practices may have actually contributed to the crisis.

Fast forward to today and the allegations leveled by the Consumer Financial Protection Bureau and private litigants against the nation's largest student loan servicer, Navient Corp., tread similar ground. If the allegations are true, poor servicing practices may be a hidden problem permeating the $1.3 trillion in outstanding student loan debt held by more than 44 million borrowers, contributing to rising delinquency rates.

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