The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the third quarter of 2024. The OCC Mortgage Metrics Report, Third Quarter 2024 showed that 97.4 percent of mortgages included in the report were current and performing at the end of the quarter, a slight increase from 97.3 percent one year earlier.
Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights describing a range of unlawful activities identified by CFPB examiners across student loan markets. The report covers violations related to student loan refinancing, private lending and servicing, debt collection, and federal loan servicing.
Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on trends in the residential mortgage lending market. 2023 showed a significant decline in mortgage lending activities, with loan applications and originations dropping by about a third from 2022. The decline was more prominent in refinancing activity than home purchase, with single-family refinance originations down nearly two-thirds from 2022. Median total loan costs also jumped significantly in 2023, with a higher percentage of borrowers reported having paid discount points than any other year since tracking of the data began.
Any chancery you might be impacted by the Delaware Personal Data Privacy Act (DPDPA)?(See what we did there?) Impacted companies need to gear up and prepare for compliance as the DPDPA becomes effective on January 1, 2025. The article that follows explains who is covered by the law and provides details about the requirements those businesses need to be aware of.
Economic shifts have a profound impact on debt settlements, influencing the strategies and outcomes for lenders across the financial landscape. As market dynamics evolve, lenders must adapt to emerging economic trends to optimize debt recovery efforts effectively. The interplay between financial technology advancements and regulatory changes further complicates the debt settlement process.
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