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  • CFPB fines Experian $3 million for lying about consumers' credit scores

    Experian, one of the nation’s three major credit reporting bureaus, misled consumers by telling them that the credit scores they purchased from the company were the same ones that lenders used to make credit decisions, the Consumer Financial Protection Bureau said Thursday. And for that deception, the CFPB is fining Experian $3 million. Click the headline for the full story.

Investments The Ticker

PennyMac may de-REIT

Rumors have been floating around the market that PennyMac, a fast growing correspondent lender and investor in Mortgage Servicing Rights, might “de-REIT” itself.

But a spokesman gave us this guidance, based on comments made during a past earnings conference call: “The REIT structure is optimal for capital generation and pass-through of investment income to shareholders.” PennyMac will release 4Q earnings in February… 

 

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