Like other card issuers, the Stamford, Conn., company expects current trends — soft loan demand but strong credit quality — to reverse later this year as the economy emerges from the pandemic-induced recession.
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Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter.
February 11
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The company purchased $1.1 trillion of single-family mortgages and $83 billion of multifamily loans during 2020.
February 11
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Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic.
February 10
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The Japanese lender will back $526 million in U.S. dollar-denominated notes with receivables of domestic new- and used-car loans from domestic borrowers.
February 10
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Homeowners still deferring payments on federally backed loans as of Feb. 28 will be permitted to request an additional three months of relief.
February 9
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Vornado, a publicly traded REIT, and CPPIB have invested over $64.2 million in capital improvements to the historic One Park Avenue building since 2014.
February 9
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The eight-year-old finance company closed on its fourth overall securitization, in what was its largest ABS bond issuance to date.
February 9
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Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.
February 9
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The first mortgage securities offering on through its Sequoia trust is also Redwood's largest-sized deal in the past year.
February 8
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Meanwhile at Essent, more loans exited the inventory in January than in December.
February 8
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Acting Director Dave Uejio wrote in a blog post that the Consumer Financial Protection Bureau needs more time to consider rules that were finalized under the Trump administration but have not yet gone into effect.
February 5
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The proposed securitization launches the same week the Federal Reserve lifted a three-year-old enforcement action against the auto lender over its prior risk compliance oversight policies.
February 5
