Collection Industry News

JANUARY 25, 2021

The insured creditor and its affiliates do not maintain an escrow account for consumer credit transactions secured by real property or a dwelling, other than: Escrow accounts established after consummation as an accommodation to distressed consumers to assist such consumers in avoiding default or foreclosure, or.

Loans 40

Loans Creditors Credit Unions Credit Unions 40

Better Credit Blog

AUGUST 21, 2020

If you have a 560 credit score, your approval odds for loans are low, and your credit rating is pretty poor. Table of Contents: Is 560 a Good Credit Score? How To Improve a 560 Credit Score. Can You Get a Loan Approval with a 560 Credit Score? Is 560 a Good Credit Score? Foreclosures.

Credit Unions 52

Credit Unions Credit Unions Personal loans Loans 52

Better Credit Blog

DECEMBER 6, 2021

For veterans, active-duty service members and surviving spouses, VA Home Loans can help make buying a home more affordable. There are two main government-backed programs designed to help people circumvent down payments: VA Loans and USDA Loans. These loans require a minimum credit score of 580. Ads by Money.

Lender 63

Lender Loans Government Credit Unions 63

Collection Industry News

MARCH 15, 2021

It has taken actions to collect data on a number of new industries, including debt relief and earned wage access providers, and has filed a cease-and-desist order against a student loan debt relief company charging borrowers exorbitant fees for the false promise of getting their student debt wiped.

Foreclosure 40

Foreclosure Student Loans Student loans Lender 40

Collection Industry News

MAY 18, 2021

In a letter sent to the leaders of the House and Senate , CUNA President/CEO Jim Nussle stated his objections to section 403 of the bill, which would amend the Fair Credit Reporting Act to prohibit credit scoring models from treating certain medical debt information on consumers’ credit report as a negative factor.

Lender 40

Lender Foreclosure Collections Debt collector 40

Credit Corp

OCTOBER 25, 2023

Key takeaways: Credit card consolidation involves combining multiple credit card balances into one. Types of credit card consolidation include credit card consolidation loans, balance transfer credit cards, home equity loans, HELOCs, retirement loans, cash-out auto refinance, family loans, and debt management plans.

Credit Card Debt 52

Credit Card Debt Debt Consolidation Credit Unions Credit Unions 52

Collection Industry News

JULY 6, 2021

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB has the authority to supervise large banks, thrifts, credit unions with assets over $10 billion, and certain nonbanks for compliance with Federal consumer financial law. Examiners found foreclosure issues. important; padding-bottom:1em!important;

Student Loans 40

Student Loans Student loans Foreclosure Loans 40

Better Credit Blog

AUGUST 21, 2020

In the article below, we’ll break down the factors that could be responsible for your 620 credit score, walk through your lending options, and share some surefire strategies for boosting your score. Is 620 a Good Credit Score? How To Improve a 620 Credit Score. Can You Get a Loan with a 620 Credit Score?

Personal loans 59

Personal loans Loans Lender Debt Consolidation 59

Troutman Sanders

MARCH 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. As of March 18, the department intends to issue full loan discharges for borrowers with approved borrower defense claims.

Financial services 52

Financial services Garnishment Student Loans Student loans 52

Credit Corp

APRIL 26, 2024

So, while getting a 1099-C itself doesn’t change your credit at all, you’ve probably already experienced a negative hit to your score. You must also be an applicable financial entity, such as a bank or credit union. Foreclosure election E, Debt relief from probate or similar proceeding F. Bankruptcy Title 11 B.

Repossession 59

Repossession Creditors Bankruptcy Foreclosure 59

Credit Corp

MARCH 25, 2024

USDA and VA home loans traditionally don’t require down payments. Below, we’ll share our expertise to help you learn all about loans and mortgage options. Conventional Mortgage A conventional loan is a mortgage option that’s offered by a private lender instead of the government. How much money do you need to buy a house?

Loans 52

Loans Lender Credit Unions Credit Unions 52

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion concerning consumers’ requests for information regarding their accounts with large banks and credit unions. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions.

Financial services 52

Financial services Student Loans Student loans Credit Unions 52

Troutman Sanders

FEBRUARY 21, 2024

On February 16, the CFPB reported on the first set of results from the newly updated Terms of Credit Card Plans survey. The report alleges that large banks are offering worse credit card terms and interest rates than small banks and credit unions, regardless of credit risk. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Financial Institution 52

Jimerson Firm

JANUARY 16, 2023

The plaintiffs alleged that the defendant sent statements misstating the balance of the loan, falsely represented the amount of the debt in connection with the collection activity, falsely represented that the plaintiffs owed foreclosure fees on the debt, and sent a number of letters alleging overdue payments.

Garnishment 52

Garnishment Foreclosure Banks Consumer Collections 52

Better Credit Blog

SEPTEMBER 30, 2021

Department of Veterans Affairs offers what are called VA Loans to people who currently serve or have served in the armed forces, or their surviving spouses. These loans can save them money and make the home-buying process go a little smoother. VA loans and how they differ from a regular loan. Benefits of a VA loan.

Loans 76

Loans Lender Credit Unions Credit Unions 76

Troutman Sanders

OCTOBER 26, 2020

On October 23, lawmakers in the House of Representatives introduced a bill to exclude Paycheck Protection Program (PPP) loans from regulators’ calculations of the asset size of smaller banks. The legislation would benefit banks and credit unions with assets under $15 billion. For more information, click here.

Financial services 52

Financial services Foreclosure Financial Institution Banks 52

Troutman Sanders

OCTOBER 9, 2023

The FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered students loan forgiveness promises that were not fulfilled. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Third-party Debt Collectors 52

Troutman Sanders

JUNE 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Covered institutions include banks, savings associations, credit unions, and mortgage companies.

Financial services 52

Financial services Student Loans Student loans Financial Institution 52