Select Portfolio Servicing Selling Personal Homeowner Information

MFI-Miami Has Busted Select Portfolio Servicing Selling Personal Homeowner Information To Shady Personal Loan Peddlers

select portfolio servicing selling

MFI-Miami has busted another mortgage servicer selling your private information to shady entities. This time, we have busted Select Portfolio Servicing selling homeowner’s private loan information to shady predatory lenders peddling personal loans.

The discovery happened by accident like it did last year when we busted Caliber Home Loans for doing the same thing. However, the good news is this company is not run by a kiddie porn peddler and peeping tom.

Last week, we received a solicitation letter offering our client, “Keith” a personal loan of $67,000. The letter was from American Direct Financial in California.

Although, you had to look closely at the disclaimer on the bottom of the fake check for $67,000 they attached in order to figure out the letter came from American Direct Financial.

Read more at MFI-Miami

Personal Loan Debt Outpacing Student Loan And Credit Card Debt

Personal Loan Debt Growing By 11% Annually And Is Outpacing Student Loan And Credit Card Debt

personal loan

Personal loan debt is the fastest-growing debt category in the country. It is outpacing student loans or credit cards by double digits.

Personal loan debt now exceeds $300 billion. Credit reporting agency Experian states this is an 11% yearly increase.

Personal loans can help consolidate credit card debt or make funds available for major projects like home remodeling effort. However, personal loans do differ in some key ways from other types of credit you might use.

Read more at MFI-Miami