Loans News

The number of Britons taking out payday loans has quadruplr Focued over the last four years, with 1.2 million people now borrowing a combined £1.2 billion, Consumes has reported.
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Demand for loans to buy U.S. homes fell last week for the fourth straight week, holding 13-year lows, as the housing market adjusted to a selling environment without the federal tax credits that had stoked April sales, the Mortgage Bankers Association said on Wednesday.
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2500 jobs: the cost of the new federal student loan law cited Sallie Mae on Friday as it commented on the effect on the new law recently passed by the Obama Administration aimed to eliminate middlemen and cut down costs.

The nation’s largest student loan lender has told 1,200 staffers in service centers in Killeen, Texas, and Panama City, Fla., they will lose their jobs by year-end. The remaining cuts will follow in 2011, resulting in nearly a third of the company’s total work force of 8,000 losing their jobs.
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The payday loan industry would be regulated for the first time in Wisconsin under a bill that passed the state Senate on Tuesday.

However, there still would be no limit on the interest that could be charged on the loans primarily given to the working poor.
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Consumers are making more payments on their loans than missing them in eight of 11 loan categories in the last three months of 2009, a bankers group reports. Fresh data show the trend continuing in 2010.

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