Consumers’ financial vulnerability hits record high: Report
The share of American households considered "financially vulnerable" rose to 17%, the highest level since at least 2018, according to the nonprofit Financial Health Network.
Student loan debt
More consumers are in delinquency as student loans sour
Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.
After weak quarter, Sallie Mae foresees big beautiful future
The student loan giant fell far short of Wall Street's expectations, but its leaders say President Trump's "Big Beautiful Bill" is likely to bring it billions of dollars in new business.
Kentucky Higher Education Student Loan Corp to raise $95.3 million in ABS
All the notes have credit enhancement totaling 28.3% of the pool balance, rating agencies said.
Student loan relief may shrink the education-debt bond market
Older bank-owned loans, part of the Federal Family Education Loan Program, are repackaged into bonds that trade in the asset-backed securities market.
Navient to cancel almost 70,000 student loans
The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.
To curb student debt, let borrowers declare bankruptcy
In no other industry would a debt-financed investment that's the equivalent of going to medical school be considered the same as a film-studies degree.
‘I’m a budget nerd’: How new FHA chief is confronting pandemic
Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.
![“We will step up and do whatever we can to make sure that we ensure market stability,” said FHA Commissioner Dana Wade. “But we know [the pandemic will] ... pass and we're going to have a strong, vibrant economy when it does."](https://vip.arizent.com/ab/wp-content/uploads/sites/4/2020/08/wade-dana-bl-081720.jpg?w=364)
Household debt falls for first time since 2014
Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.
Navient sponsors $807M SLABS offering of Earnest-unit refinancings
The fixed-rate loans from Earnest involve refinancings to advanced degree professionals who have greater financial means to make payments despite the economic disruption caused by the COVID-19 pandemic.
By
Glen Fest
CFPB, Education Dept. sign MOU on student loan complaints
The two agencies said they will exchange student loan complaint data after their information-sharing efforts had been in limbo for over two years.
CFPB sued for allegedly failing to supervise student loan servicers
Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.
Another day, another Capitol Hill grilling for CFPB’s Kraninger
In her second day of congressional testimony, Kathy Kraninger took heat from Senate Democrats for weighing in on constitutional questions about her agency and for her enforcement track record.
Campaign 2020 puts an asset class in the crosshairs
The idea of forgiving student debt has gained traction in the Democratic presidential debates. Undiscussed so far: the significant impact any program could have on the roughly $175 billion of securities backed by student loans.
By
Glen Fest
Warren proposes scrapping student debt for millions in 2020 plan
Democratic presidential candidate Elizabeth Warren proposed eliminating student-loan debt for an estimated 42 million Americans with a wealth tax
Senate Dems press CFPB on student loan forgiveness
The lawmakers are questioning the agency about its oversight of student loan servicers involved in a federal loan forgiveness program.
Takeaways from Trump budget: CFPB reform, FHA fees and student loans
The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.
Household debt hit another all-time high. Is it poised to level off?
While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.
By
Alan Kline
CommonBond gets $750 million in lending funds from top banks
Barclays, BMO, Citibank, Goldman Sachs and ING contributed to the online student lender, which last year made over $1 billion in loans.
Student loan debt sets record, doubling since recession
U.S. student loan debt outstanding reached a record $1.465 trillion last month and one particular set of borrowers is having a hard time paying back their loans.
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