To avoid a pileup at the end of the year due to the operational challenges caused by the pandemic, state regulators have called on loan originators to renew their licenses early.
Debt collectors will finally be allowed to use modern communication technology (emails and text messages) in tracking down late payors. Consumers can opt out if they want.
The CFPB issues no-action letter to Bank of America; lawsuit against Driver Loan; SMART Payment Plan settles with the CFPB; New York Department of Financial Services outlined expectations for financial institutions to man-age climate change risks.
The calculus is straightforward: With that much capital tied up in equity, it’s difficult to see how the GSEs could generate adequate returns to attract investors.
The result was that nonbanks at the end of September accounted for 49.1% of the top-50 market, a measurement that includes a substantial volume of subservicing.
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