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34. Does the restriction on selling charged-off consumer debt to debt buyers include owner-occupied residential mortgages?

FAQ Question

34. Does the restriction on selling charged-off consumer debt to debt buyers include owner-occupied residential mortgages?

FAQ Answer

Yes. Question PM21 ask whether an Applicant sells its charged-off consumer or small business debt to debt buyers. An Applicant that sells its charged-off consumer debt – including owner-occupied residential mortgages – or small business debt to debt buyers is ineligible for CDFI Certification.