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Volume 25 - Number 12

June 9, 2014

Auto Finance ‘Larger Participant’ Rule in the Works, CFPB Confirms

The CFPB officially made it clear again that it will propose a rule to define “larger participants of a market for auto lending,” according to the agency’s recently updated semi-annual rulemaking agenda. The bureau is also now in the process of finalizing a rule defining larger participants in the international money transfer market, after having previously defined larger participants in the consumer debt collection, credit reporting and student loan servicing markets. Elsewhere, the CFPB is...

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

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