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MOHELA, a student loan servicer, is under scrutiny for incompetence and servicing failures affecting over 40% of borrowers since September 2023. Calls for investigation by CFPB and state AGs have been made due to alleged mismanagement. NYCB faces criticism for mishandling Signature's failure, leading to a significant drop in stock value.
Cutting interest rates will not help $NYCB. Fade STIR! These guys paid the wrong price for Signature and then botched the booking of the loans either hiding their bad acquisition price or just being bad at booking/pricng stuff. The 10K delay stinks of an accounting firm…
For those that are critical of my criticism of the carnival barkers on Fin TV... watch this ($NYCB -30% this morning) https://t.co/Zhu32NctlV No process, no modelling, no process... but plenty of hubris. Just pure pablum. @KeithMcCullough @dougkass https://t.co/Bu2kSZYdk4
Mess at NYCB existed before Signature failed. Sleepy NYC community bank. But allowing Signature to fail was a huge error. SBNY should have been put into conservatorship and sold whole. That was the least cost resolution. Now @FDICgov must sell assets nobody wants....