That's
the estimated number of borrowers eligible to refinance their debt, according to a new report from Credible.
That's
the estimated number of borrowers eligible to refinance their debt, according to a new report from Credible.
Not exact matches
We
estimate a total increase
of 27,755 hours
of burden for graduate and professional student PLUS
borrowers at public institutions (18,503 hours for the collection and submission
of documentation
of extenuating circumstances or to obtain an endorser who does not have an adverse credit history plus an additional 6,325 hours
of enhanced counseling for
borrowers with extenuating circumstances and an additional 2,927 hours
of enhanced counseling for the
borrowers who receive a loan after obtaining an endorser who does not have an adverse credit history) under OMB Control
Number 1845 - 0129.
We
estimate a total increase
of 50,391 hours
of burden for graduate and professional PLUS
borrowers at private non-profit institutions (33,594 hours for the collection and submission
of documentation
of existing extenuating circumstances or to obtain an endorser who does not have an adverse credit history plus an additional 10,712 hours
of enhanced counseling for
borrowers who received a loan after demonstrating that extenuating circumstances exist and an additional 6,085 hours
of enhanced counseling for the
borrowers who received a loan after obtaining an endorser who does not have an adverse credit history) under OMB Control
Number 1845 - 0129.
We
estimate a total increase
of 18,340 hours
of burden for parent PLUS
borrowers at private for - profit institutions (10,480 hours for the collection and submission
of documentation
of extenuating circumstances or to obtain an endorser who does not have an adverse credit history, plus an additional 5,709 hours
of enhanced counseling for parent
borrowers who qualify for a loan after demonstrating extenuating circumstances, and an additional 2,151 hours
of enhanced counseling for the parent
borrowers who received a loan after obtaining an endorser who does not have an adverse credit history) under OMB Control
Number 1845 - 0129.
We
estimate a total increase
of 3,640 hours
of burden for graduate and professional student
borrowers at foreign institutions (2,426 hours for the collection and submission
of documentation
of extenuating circumstances, or to obtain an endorser who does not have an adverse credit history, plus an additional 753 hours
of enhanced counseling for
borrowers who qualify for a loan after demonstrating that extenuating circumstances exist, and an additional 461 hours
of enhanced counseling for the
borrowers who receive a loan after obtaining an endorser who does not have an adverse credit history) under OMB Control
Number 1845 - 0129.
We
estimate a total increase
of 16,477 hours
of burden for graduate and professional student PLUS
borrowers at private for - profit institutions (10,984 hours for the collection and submission
of documentation
of existing extenuating circumstances or to obtain an endorser who does not have an adverse credit history, plus an additional 3,804 hours
of enhanced counseling for
borrowers who qualify for a loan after demonstrating that extenuating circumstances exist, and an additional 1,689 hours
of enhanced counseling for the
borrowers who receive a loan after obtaining an endorser who does not have an adverse Start Printed Page 63329credit history) under OMB Control
Number 1845 - 0129.
General: Since the publication
of the NPRM, we have continued to examine available data and have based our revised burden calculation on the actual
number of borrowers with adverse credit histories who documented extenuating circumstances, and the actual
number of borrowers with adverse credit histories who obtained an endorser who does not have an adverse credit history during the period
of March 23, 2013, through February 26, 2014, instead
of basing our burden
estimate on derived
numbers.
(2) From the group
of borrowers identified under paragraph (d)(1)
of this section, the data manager identifies a sample that is large enough to derive an
estimate, acceptable at a 95 percent confidence level with a plus or minus 5 percent confidence interval, for use in determining the
number of borrowers who should be excluded from the calculation
of the program cohort default rate due to improper loan servicing or collection.
Now, that
number is growing exponentially now as the program is rolling out, but there is still not a lot
of people — they
estimate that almost 50 %
of borrowers qualify for some type
of program.
As discussed more fully in the section - by - section analysis
of § 1026.2 (a)(3) above, under current regulations, the receipt
of the following information by the creditor or mortgage broker constitutes receipt
of an «application»: (1)
Borrower's name; (2) borrower's monthly income; (3) borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the c
Borrower's name; (2)
borrower's monthly income; (3) borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the c
borrower's monthly income; (3)
borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the c
borrower's social security
number to obtain a credit report; (4) the property address; (5) an
estimate of the value
of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the creditor.
As discussed more fully in the section - by - section analysis
of § 1026.2 (a)(3), under current regulations, the receipt
of the following information by the creditor or mortgage broker constitutes receipt
of an «application»: (1)
Borrower's name; (2) borrower's monthly income; (3) borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the c
Borrower's name; (2)
borrower's monthly income; (3) borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the c
borrower's monthly income; (3)
borrower's social security number to obtain a credit report; (4) the property address; (5) an estimate of the value of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the c
borrower's social security
number to obtain a credit report; (4) the property address; (5) an
estimate of the value
of the property; (6) mortgage loan amount sought; and (7) any other information deemed necessary by the creditor.