The U.S. Department of Education finds little evidence active-duty servicemembers are being charged unlawfully high interest rates on student loans, and Exeter Finance taps Freddie Mac exec as CFO.
More From Asset Securitization Report
Late student-loan payments are rising. Is a domino effect coming?
The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
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.
North Carolina student loan provider raises $69.2 million in ABS
Credit support to the bonds range from 28.48% to 32.30%. They provide coverage of about 3.0x-3.4x of its base-case net loss in the 'A' stressed, break-even cash flow scenarios.
CFPB wins rare judgment over student loan debt relief firm
A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.
CFPB assesses $100 million-plus in penalties on student loan servicer Navient
The action stems from 2017, when the CFPB filed a lawsuit claiming Navient steered borrowers who might have qualified for income-driven repayment plans into more expensive forbearance instead.
