Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
On January 24, the CFPB published a report titled “Cash-Out Refinances and Paydown Behavior of Non-mortgage Debt Balances,” which examined the use of proceeds by borrowers who obtained cash-out refinancing between 2014 and...more
Senator Elizabeth Warren is scheduled to be the keynote speaker today for “National Student Debt Day,” an event in Washington, D.C. for “student loan activists from around the country.” The event is sponsored by Young...more
The CFPB and the U.S. Departments of Education and the Treasury have released a Joint Statement of Principles on Student Loan Servicing, accompanied by a CFPB report. In the CFPB’s press release announcing the publications,...more
Late last week, the student loan refinancing bill introduced by Senator Warren (D-MA) came up 4 votes short of the 60 needed to end debate and prevent a filibuster. If enacted, S. 2292, the Bank on Students Emergency Loan...more
Private student loan lenders and servicers who met last week with CFPB Director Cordray, Education Secretary Arne Duncan, and Acting Deputy Treasury Secretary Mary Miller got the “memo” that the regulators think they should...more
As we predicted at last week’s meeting of the National Council of Higher Education Resources’ Private Student Loan Committee, the CFPB field hearing held last Wednesday in Miami was devoted to student loan affordability. In...more