The case is one of three separate complaints by government authorities that paint Navient as a company more interested in serving its financial interests than the needs of struggling student loan borrowers — a characterization the firm vehemently denies.
Many people do not realize that there are many different credit scores, and not all scores are FICO scores that are typically used by creditors for lending decisions. . Further, not all FICO scores are the same, as there are several versions of the FICO scoring system used by creditors, and the information used to calculate them may not be the same between all lenders.
Happy hump day! We’ve expanded the # of companies we are working with, let’s chat for 5-10 minutes about an easy way we can work together to help them and get more deals closed for you. Looking forward to hear from you soon!
The top three scams for 2016 remain the same from the previous year, with tax (IRS and U.S. Treasury), debt collection and sweepstakes scams leading the way.
If confirmed as secretary, DeVos would be in a position to influence the award of debt collection, servicing and recovery contracts, in addition to the oversight and monitoring of the contracts. She would also have the authority to revise payments and fees to contractors for rehabilitating past-due debt — all of which has Senate Democrats concerned.
HAPPENING TODAY! Join me and other expert panelists from the industry at MasterMinds Expert Panel presented by The Affiliate Network.
In the United States today, debt collection is a $13.7 billion dollar industry with more than 6,000 debt collection firms operating in the United States. Debt collection affects 70 million consumers who have or are contacted about a debt in collection.
The Consumer Financial Protection Bureau surveyed consumers regarding their views and experiences in debt collection and have released a report on their findings.
Research shows that out of a sample of 20 million people, around 7.4 million Americans who don’t have a FICO score today could receive a research score of 620 and above if we weakened the minimum criteria to exclude the deceased or inquiry-only.
Currently on my teaching event for Embrace home loans’ Lunch & Learn Series, here at Greater Baltimore Board of REALTORS®.
Topic: Debunking Credit Myths
Wednesday 01/18
1:30 – 5:30pm @ Boardwalk Plaza Rehoboth Beach, DE
Open Bar and Hors D’oeuvres provided
Registration begins promptly at 1:30pm
WASHINGTON (AP) — Federal regulators have ordered credit-reporting agencies TransUnion and Equifax to pay about $23 million for falsely advertising that the credit scores they sell consumers are the same ones lenders use to make credit decisions.
The Consumer Financial Protection Bureau announced Tuesday that TransUnion and Equifax must pay fines totaling $5.5 million and return about $17.6 million to wronged consumers. The agency also said the two companies lured consumers into payments of $16 or more per month for credit scores and credit-related products.
TransUnion, based in Chicago, and Atlanta-based Equifax Inc. are two of the three major credit-reporting agencies in the U.S. The credit scores they generate are used to determine whether consumers can qualify for a mortgage, a car loan, a cellphone plan and a range of other loans.
Come join me at my teaching event for Embrace Home loans on Debunking Credit Myths. You’ll get an inside look at how credit scores work and what your clients can do to improve their scores. Open to all agents!
Wednesday 01/18
1:30 – 5:30pm @ Boardwalk Plaza Rehoboth Beach, DE
Open Bar and Hors D’oeuvres provided
Registration begins promptly at 1:30pm
