Federal Reserve: Auto Financing During and After the Great Recession
Auto Financing during and after the Great Recession Ralf R. Meisenzahl 1 More than half of auto financing is originated by non-bank finance companies that typically rely on short-term funding markets for their own financing. During the recent financial crisis, disruptions in these short-term financing markets reduced the availability of auto credit to consumers, which…
CFPB: Certify Your Service | Guides to Public Service Loan Forgiveness
If you’re a teacher, member of the military, first responder, government employee, or work in another area of public service and have student loan debt, you may be eligible for the Public Service Loan Forgiveness (PSLF) program. STAY ON TRACK Check out these tips to certify your service and make sure you’re on track for Public…
CFPB: Certify Your Service and Stay on Track for Public Service Loan Forgiveness
We often hear from people working hard in public service who are struggling to stay on track with their student loans. Public service employees may be eligible to have their loans forgiven through the Public Service Loan Forgiveness (PSLF) program. After these borrowers make ten years’ worth of qualifying payments (120 payments), the PSLF program…
ABA: Mortgage Borrowers Want Both Technology and In-Person Services
Survey also found down payment, student debt preventing home purchases WASHINGTON — A majority of Americans (60 percent) agree that while they use online resources for research, they prefer to apply for a mortgage in person, according to a new survey from the American Bankers Association. Seventeen percent said they would prefer to apply for…
FHFA: 2016 Report to Congress Released Including Exams of Freddie, Fannie & FHLBs
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its 2016 Report to Congress. The statutorily-required report provides information about FHFA’s 2016 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of Fannie Mae…
SBA: One Month Left to Apply for Disaster Loans in MO, AR and TN
SACRAMENTO, Calif. – Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West today reminded small nonfarm businesses in 11 Missouri counties and neighboring Arkansas and Tennessee counties of the July 10, 2017, deadline to apply for an SBA federal disaster loan for economic injury. These low-interest loans are to offset economic losses because…
CFPB: It’s Not Too Late to Spring Clean Your Finances
Spring cleaning isn’t just for decluttering your home. You can take advantage of the changing seasons to clean up your finances and make sure you know where you stand. These steps can help you clean up your financial life as you work towards your goals. Here’s a few ways to get started spring cleaning your…
CFPB: How to Understand Special Promotional Financing Offers on Credit Cards
CREDIT CARD TERMS By Gail Hillebrand How do you tell the difference between a zero interest and deferred, or “no” interest credit card offer? Look for the “if.” Zero interest offers use language like “0% intro APR on purchases for 12 months.” Deferred interest offers use language like “No interest if paid in full…