Corinthian Collapse Renews Calls for Loan Forgiveness
Student advocates and lawmakers are renewing calls for loan forgiveness after Corinthian Colleges announcement Sunday that it will close its remaining campuses. Collection & Credit Risk
Auto Loan Modification, Fraud Targeted in Crackdown
A nationwide and cross-border crackdown on auto sales, including loan modifications, has included 252 enforcement actions. Collection & Credit Risk
Student Loan Refinance Bill Resurfaces
U.S. Sen. Sherrod Brown, D-Ohio, announced his ongoing co-sponsorship of legislation aimed at allowing people with outstanding student loan debt to refinance at the lower interest rates offered to new borrowers. The measure has resurfaced in the 114th Congress. Collection & Credit Risk
Bill Aims to Remove Student Loan Bankruptcy Exemptions
Private student loans would no longer be exempt from protections when borrowers file for bankruptcy, under a bill introduced in the U.S. Senate. Collection & Credit Risk
Lender Easily Sells Subprime Auto Loan Bundle
Despite turmoil in the auto loan market - delinquencies are up, more people are losing their cars to repossession - Santander Consumer USA still had few problems finding buyers last week for a bond deal consisting of auto loans to credit-troubled borrowers. Collection & Credit Risk
FHFA’s Watt Defends Contentious Home Loan Bank Membership Plan
In an interview, FHFA Director Mel Watt said there needs to be greater clarity to ensure some entities aren't taking improper advantage of Federal Home Loan Bank membership. News
NY Fed Team Tackles Student Loan Debt Impact
Student loan debt remains a pressing concern in the U.S. because of high balances and high rates of delinquencies and defaults. The issues have been discussed in recent blog posts by the Federal Reserve Bank of New York’s Liberty Street Economics team. Collection & Credit Risk
State AG Wants Loan Forgiveness from Embattled Corinthian
Massachusetts Attorney General Maura Healey has asked the Department of Education to forgive the school loans of hundreds of students from the state enrolled at Corinthian Colleges Inc., a for-profit company investigated by federal authorities for practices that left many students deeply in debt. Collection & Credit Risk
Former Sallie Mae Execs Open Student Loan Financing Firm
Two former Sallie Mae executives have started a new student loan financing company. Collection & Credit Risk
Seeking answers for struggling student loan borrowers
Thousands of borrowers have told us their stories on how they manage tough times with their student loans. Some students ended up borrowing much more than they expected in order to complete their degree, often because a parent lost a job in the midst of the financial crisis. Others had a tough time finding a [...]
