Performance of student loan ABS declined in the second quarter. And a moratorium on payments for federally backed student loans is set to expire at the end of August.
Complaints to the CFPB about mortgages decreased in the second quarter, with gripes tied to originations slowing faster than servicing issues. Mr. Cooper remained the mortgage company with the most complaints. (Includes two data charts.)
The head of the Consumer Data Industry Association said in an interview that the rapidly rising complaint count is due to “exogenous” factors. The trend will continue, he said, short of policy action to fix the issue.
Kaitlyn Cherry, licensing director and corporate counsel at Guild Mortgage, called for the creation of a temporary authority sponsorship acceptance period, among other improvements.