The number of grievances about evictions and federal student loans declined between January 2020 and May 2021. Nonetheless, the Consumer Financial Protection Bureau warned financial firms that poor customer service can undermine government efforts to provide aid.

The self-employed professionals posted slightly weaker credit fundamentals, as they were more severely affected by the pandemic due to business closures.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

Issuers of leveraged loans appear ready to use SOFR, the popular alternative to LIBOR, putting leveraged loans a step ahead of the market.

A congressional resolution that invalidates the regulation issued last fall by the Office of the Comptroller of the Currency would help regulators crack down on so-called rent-a-bank schemes that promote predatory lending, the president said before signing the measure.

Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.

Morgan Stanley is starting afresh, with a $765.3 million CMBS deal issued through its MSC 2021 trust that comprises 43 loans secured by 60 properties and originated in April 2021 or later, as the vaccination rate gained momentum and Covid infection rate declined.

Approaching the market with its third and largest deal this year, non-QM originator and issuer Angel Oak Home Loans LLC (AOHL) plans to issue $303 million in asset-backed securities following the recent completion of its initial public offering.

The change makes it easier for borrowers exiting forbearance to get access to home retention options that might otherwise be out of reach due to skyrocketing home prices.

Kikoff, whose investors include Golden State Warriors' star Stephen Curry, provides applicants with a no-fee $500 revolving line of credit they can use to purchase personal finance books and courses from its online store. The company then reports this payment activity to some credit bureaus.

Six online lenders and the National Community Reinvestment Coalition have asked the Consumer Financial Protection Bureau for clarity on whether disparate-impact rules apply to lending decisions made by machines.

Democrats are pushing for a public-sector alternative to the three main credit bureaus, but Republicans argue that the government is ill-equipped to safely handle consumer data and produce accurate reports.