The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.

After a selloff toward the end of 2022 when it sought to reduce liquidity risk, the company resumed purchases of whole loans last quarter.

GoodLeap 2023-2 has loans with fewer 25-year terms and higher FICO scores generally. Together, they'll have lower expected loss rates than those with longer terms and lower FICO scores.

GMALT 2023-2 offers note holders several advantages from a credit perspective, according to Fitch, including strong residual value realizations on the cars being financed.

The Federal Reserve chair said he holds himself accountable for ensuring proper regulatory and supervisory changes are enacted in response to recent bank failures.

Actual shipping vessel usage dropped to less than 70% during the COVID-19 pandemic, but its utilization rate only slipped to 98.4% during the pandemic.

Meanwhile, the average purchase loan amount surged to its highest level in 2023, showing signs of continued demand amid limited inventory.

Although the company reported a loss, executives expressed confidence in its funding and liquidity.

Underlying loans fell into higher credit tiers this time around, a result of ongoing tightening in the sponsor company's origination strategies.

At the embattled Republic First Bancorp, elevated legal, professional and audit fees also contributed to a nearly $10 million in first-quarter loss but CEO Thomas Geisel reports signs of progress moving past "legacy headwinds."

Housing costs increased at the slowest pace in over a decade nationwide, even while monthly growth now exceeds its pre-pandemic level.

The neobank expects to turn a profit by the end of the year, but faces challenges as it copes with the government's pause on federal student loan repayment and with the difficulty of selling technology services to other businesses.