Student loans

Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers.

Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.

The CFPB's acting director announced new political hires and more plans to overhaul the agency in an email Wednesday.

The Tennessee community bank garnered a triple-A from two credit rating agencies for its inaugural securitization this month of loans refinancing the debt of borrowers with advanced degrees and high-paying jobs.

Gill, who spent 14 years at Goldman, will fill a role that has been vacant since last summer at SoFi.

Southeast Bank's Education Loan Finance division joins SoFi, Navient and Laurel Road in originating and securitizing the refinanced student loans of advanced-degree professionals.

Explosive growth in student lending was putting pressure on the capital ratios of the company, formerly Darien Rowayton Bank; a securitization got a big chunk of servicing strips off its books.

Are American college students using their student loan dollars wisely? A LendEDU study explored how those funds are spent.

Fifth Third and First Republic are among the investors in the company’s $50 million equity round.

Medical residents are considered to be good credits but have less free cash flow than fully practicing doctors; the loans did not have a big impact on overall credit metrics of the $900 million deal.

The fintech lender's latest offering of $234 million bonds were priced at a 27-basis-point improvement from its previous deal; cheaper funding will allow it to better compete for borrowers in a rising rate environment.

Department of Education Secretary Betsy DeVos says the companies hired by the government to service its own loans should only be subject to federal oversight.

The Education Department reportedly has plans to shield student loan servicers from state regulators, but the Conference of State Banking Supervisors isn't ready to cede its authority.

So far, consumers have not had much voice in the discussion of a suitable replacement for the benchmark rate; lenders and servicers want to limit any harm, and their liability.

Social Finance has acquired the engineering and product teams of mortgage startup Clara Lending, bolstering the financial technology company's offerings beyond student-loan refinancing, according to people familiar with the matter.

Refi loans that the servicing behemoth is making through Earnest do not require the same amount of seasoning as new in-school loans, and so can be securitized much sooner.

Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.

The nation's largest private student lender plans to use $30 million of its anticipated tax-cut windfall to speed up its diversification plan and strengthen its digital capabilities.

At the end of September, the share of loans in MeasureOne’s private student loan database in forbearance was 2.88% of the outstanding balance, up 26.81% on the year.

The two Democratic lawmakers sent a letter Monday to the four largest servicing companies asking them to address borrower complaints.