Penny Mac – not to be confused with a Big Mac – Are they a debt collector?

Ok – We have had Freddie Mac and McDonald’s Big Mac, but now there’s (Penny Mac – Private National Mortgage Acceptance Company).

Apparently, this private company was formed to purchase the recent shaky mortgage loans from other lenders as well as credit card and auto loans, on behalf of private investors.

Now the big question is “Will they be treated a  a mortgage company-servicer, or a debt collector?” for regulatory purposes.


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