Collection Industry News

JANUARY 10, 2022

The CFPB discovered that some mortgage lenders violated ECOA by discriminating against African American and female borrowers in the granting of pricing exceptions based on competitive offers. Examiners also discovered that some servicers incorrectly disclosed transaction and payment information in borrowers’ online mortgage loan accounts.

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Consumer Finance Watch

MARCH 27, 2020

NY DFS will consider, among other things, the adequacy of the process established by the Regulated Institution, the thoroughness of the review of the application, and the payment history, creditworthiness and financial resources of the borrower, in assessing whether a regulated institution has engaged in an unsafe or unsound practice.

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Financial Institution Financial services Loans Banks 40

Credit Corp

AUGUST 3, 2020

It’s not in the interest of lenders to allow card holders to drive up balances with no end in sight. Cardholders on these accounts are given a limit that’s unique to them, and it’s based on factors such as creditworthiness, income, and how long you have had an account. What a No Limit Credit Card Really Means.

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Creditworthiness Financial Institution Loans Lender 111

Troutman Sanders

MAY 9, 2023

On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Financial services Student loans Student Loans Loans 52

Better Credit Blog

APRIL 1, 2022

The best personal loans charge low fees and low fixed interest rates, have flexible loan amounts and terms, and have no prepayment penalties. A personal loan could let you access cash for any purpose. Since personal loans are unsecured, you’ll need an excellent credit score to get the best deal. Compare Rates Now.

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Personal loans Loans Lender Student loans 65

Fico Collections

JUNE 30, 2023

Origination is just the initial phase of the long and complex mortgage lifecycle, which begins with a lender qualifying a borrower and then providing the funds used to purchase a new property or refinance an existing property. The lender then holds the mortgage on its balance sheet or sells the mortgage on the secondary market to investors.

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Lender Loans Banks Creditworthiness 96

Troutman Sanders

JUNE 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). For more information, click here. On June 16, the U.S.

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Financial services Student loans Student Loans Financial Institution 52