ABA this week joined a coalition of housing and financial trade groups in a letter urging the Federal Housing Administration to change its current underwriting policy on student loan debt, noting that current requirements “may be disqualifying otherwise creditworthy borrowers” from qualifying for FHA financing.
Browsing: Student loans
The American Bankers Association wrote to Senate Armed Services Committee Chairman Jim Inhofe (R-Okla.) today to oppose two private student loan amendments included in the House version of the National Defense Authorization Act that the association noted were “financially infeasible and could lead banks to exit the private student loan market.”
Employers will be able to make tax-free contributions to their employees’ student debt, according to one provision of the recently enacted CARES Act.
The Alternative Reference Rates Committee today issued a consultation on draft fallback language for variable-rate private student loans that reference the U.S. dollar London Interbank Offer Rate.
Violations of Regulation X–including the failure of some mortgage servicers to provide certain loss mitigation notices, providing incomplete notices or not providing notices within the time required–are among the examiner observations included in the Consumer Financial Protection Bureau latest “Supervisory Highlights” report.
Outstanding household debt increased by 0.7% in the third quarter of 2019, rising by $92 billion to land at $13.95 trillion, the Federal Reserve Bank of New York reported today.
A conversation with Greg Carmichael, chairman, president and CEO of Fifth Third Bank.
Greg Carmichael entered the banking industry as a mid-career technology executive, and that’s shaped his perspective on the challenges facing banks today.
The Federal Reserve and FDIC today issued an advisory on voluntary private education loan rehabilitation programs to alert banks to an amendment to the Fair Credit Reporting Act that was included in the S. 2155 regulatory reform law.
About 20 percent of the decline in young adult homeownership rates — accounting for roughly 400,000 non-homeowners — can be attributed to rising student loan debts, according to new research published yesterday by the Federal Reserve.