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Volume 2017 - Number 44

November 17, 2017

Cleveland Fed Calls ‘Peer-to-Peer’ Loans ‘Predatory’ As Marketplace Issuance Continues to Grow

So-called peer-to-peer loans ďresemble predatory loans in terms of the segment of the consumer market they serve and their impact on consumersí finances,Ē according to a study published last week by the Federal Reserve Bank of Cleveland. The warning comes as issuance of ABS and MBS from marketplace lenders continues to grow, with growing acceptance from rating services and investors.

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.
I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.
Not bad, but he needs to take his time making additional changes.
We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!

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