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Mortgage Delinquency Rate Falls Again
The mortgage delinquency rate continued its robust decline, falling for the 11th straight quarter, according to TransUnion's latest mortgage report.
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Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy. more »
Dallas officials are supporting a lender called Community Loan Center of Dallas that is designed to allow participants an alternative to the payday lending industry that the city has long battled and heavily criticized. more »
WASHINGTON — The Department of Justice and the Federal Deposit Insurance Corp. have agreed to launch preliminary investigations into Operation Choke Point. more »
Markind Law Group, a Cherry Hill, N.J. debt collection law firm, has won a court ruling in a case brought by a consumer who argued an arbitration provision included in his sales contract for a Ford Fiesta couldn't be enforced by the firm. more »
A legal association's ethics committee on Wednesday issued an opinion finding that a growing practice by local prosecutors of allowing debt collection agencies to send demand letters - that suggest they came from the prosecutor - violates rules of professional conduct. more »
Hospitals are expected to save $5.7 billion in bad debt and charity care costs this year because of the Act. more »
BUMPY RIDE: Subprime auto lending is "not for the faint of heart" because of its "high margins and higher losses," Capital One CEO Richard Fairbank said.
For many months, subprime auto lenders have been insisting that the industry's boom will not be a precursor to the kind of collapse that knocked out the subprime mortgage business. more »
Two Native American tribes have dropped their federal lawsuit against the state of New York that claimed its' campaign against payday lenders violated their rights as sovereign tribes. more »
Soaring student loans and the reluctance of Millennials to own houses and cars threaten to define the entire generation and put them behind - as a whole - throughout their lives, a chief economist at Equifax said. more »
R.I.P.? Overdrafts are "probably not going to be a growth area" for Zions, CEO Harris Simmons (left) said. Customers Bancorp, whose CEO, Jay Sidhu calls overdrafts "nuisance fees," says it has a high-tech alternative.
Regulators are turning up the heat on overdraft fees and, increasingly, so are banks. more »
The Consumer Financial Protection Bureau issued a report Tuesday highlighting illegal actions uncovered from supervising the student loan servicing market. more »
Overall, U.S. residential properties - including single-family homes, condominiums and townhouses - sold at an estimated annual pace of 4.4 million in September. more »

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