- CFPB Tweaks Forward Mortgage Disclosure Rules
Reverse Mortgage Daily 20 Jan 2015
The Consumer Financial Protection Bureau's (CFPB's) new forward mortgage disclosure rules have been finalized and will go into effect on Aug. 1.
- Big Data Underwriting for Payday Loans
New York Times 19 Jan 2015
ZestFinance, founded in 2009, practices big data-style underwriting for loans known as ZestCash. The company was founded after Douglas Merrill, former Google CIO and current ZestFinance CEO, studied ...
- Looser Credit for Home Buyers
New York Times 18 Jan 2015
An analysis by the Urban Institute's Housing Finance Policy Center indicates that FHA-backed loans will be more attractive to the most creditworthy borrowers when insurance premiums on the loans drop ...
- Homeowners Billed for Houses Lost in Foreclosure
Boston Globe 18 Jan 2015
Thousands of people nationwide are finding themselves on the hook for "mortgage deficiencies," or tens of thousands to hundreds of thousands of dollars related to the homes they lost in ...
- Poll: Utahns Favor Limits on Payday Loans
Utah Policy Daily 15 Jan 2015
Payday loans are likely to re-surface as a legislative target this year in Utah, where a December survey has found that most of the state's residents believe tighter control of the industry is ...
- Chattanooga Seeks to Limit Payday Lending and Title Pawns
Chattanooga Times Free Press 13 Jan 2015
The Chattanooga-Hamilton County Regional Planning Commission in Tennessee on Jan. 12 unanimously approved a proposed zoning amendment that would prevent alternative financing businesses, including ...
- Credit Counselor Has Ties to High-Interest Lenders
Wall Street Journal 13 Jan 2015
Howard S. Dvorkin, founder and former president of Consolidated Credit Counseling Services Inc., also owns interests in businesses that provide services to payday lenders, a Wall Street Journal ...
- Troubling Sale of Corinthian Colleges Set to Close Today (January 12)
Public Citizen: Consumer Law & Policy Blog 12 Jan 2015
The sale of Corinthian Colleges (the for-profit college chain that operates Everest, WyoTech, and Heald) to the student loan debt collector ECMC is poised to close today. The deal has raised serious concerns about the fate of Corinthian students and whether the new entity represents a true reform for student borrowers.
- Miss a Car Payment? N.J. Bill Would Ban Remote Kill Switch
South Jersey Times (NJ) 12 Jan 2015
New Jersey Assemblymen Paul Moriarty and Angel Fuentes have sponsored a measure that would ban the use of "kill-switch" remote shut-down technology that car dealers or loan lenders use to enforce ...
- Expanding Consumer Protection in Auto Finance
Center for American Progress 12 Jan 2015
Eighty-five percent of new-car purchases and 54 percent of used-car purchases in the United States involve financing, but not always through banks or credit unions.