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Mortgage rates rise to just short of 7%

US mortgage rates rose for the third week in a row but stayed just under the 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie…
Press Release

Dudley Resources – Your Funding Source for Debtor Payments and Settlements

Welcome to Dudley Resources, a leading asset recovery solutions provider specializing in unlocking maximum value for various assets. Our comprehensive services cater to businesses dealing with debtor companies or surplus inventory. With over 40 years of industry experience, we have…
Editorial News

CFPB Explores AI’s Impact on Consumers’ Relationships With Financial Institutions

A key pillar of the relationship between consumers and their financial institutions is effective customer service. We consumers expect that the financial institutions we trust to hold our money will provide us with prompt and responsive assistance when we ask…
Bankruptcy News

US bank regulators announce sweeping proposals on capital rules

WASHINGTON (Reuters) – U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate…
Legal News

Mortgage Delinquency Rate Reaches Historic Low in May

CoreLogic report attributes healthy mortgage performance to strong job market. A new report from CoreLogic found the overall delinquency rate for U.S. mortgages dropped to a record low of 2.6%, down from 2.7% in May 2022 and 2.8% in April…
Educational News

Biden administration forgives $39 billion in student debt for more than 800,000 borrowers

The Biden administration announced Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers. The relief is a result of fixes to the student loan system’s income-driven repayment plans. Under those repayment plans, borrowers get any remaining debt canceled by the government…
Government News

CFPB, European Commission Announce Cooperation to Strengthen Consumer Financial Protection

On July 17, 2023, US Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and Commissioner for Justice and Consumer Protection of the European Commission (EC) Didier Reynders published a joint statement announcing the beginning of an informal dialogue to take place at…
Editorial News

U.S. mortgage rates rise to 6.81%, highest level this year, Freddie Mac says

NEW YORK, July 6 (Reuters) – U.S. 30-year mortgage rates rose to an average of 6.81% this week, the highest level of 2023, according to Freddie Mac’s mortgage market survey. Mortgage rates have risen sharply in tandem with the Federal…
Bankruptcy News

‘Crushing’ debt crisis spells development disaster for billions: UN chie

According to a new report by the UN Global Crisis Response Group, entitled A World of Debt, a total of 52 countries – almost 40 per cent of the developing world – are in “serious debt trouble”, Mr. Guterres said, backing calls for…
Legal News

Biden signs debt limit bill, avoiding U.S. default

WASHINGTON, June 3 (Reuters) – President Joe Biden on Saturday signed a bill that suspends the U.S. government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default with just two days to spare. The House of Representatives…