The captive finance arm of General Motors has been pulling back on leasing, but it still expects to be negatively impacted by falling used car prices for the remainder of the year.
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Fino 1 is backed by collections on more than €5.34 billion in bad loans originated by the Italian banking giant. Most were issued between 2010-2017.
November 28
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Citing the dim financial outlook for a business it entered just six years ago, the Wayzata, Minn., company will stop making auto loans on Dec. 1.
November 27
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The Show Me State passed legislation enabling residential and commercial PACE financing in 2010; however, Renovate America only started funding assessments through the Missouri Clean Energy District three months ago, in August 2017.
November 27
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CFPB Deputy Director Leandra English filed a lawsuit late Sunday against the Trump administration challenging OMB Director Mick Mulvaney's appointment. The CFPB's general counsel has sided with President Trump, however.
November 26
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The €309 million Orbita Funding 2017-1 plc follows a 2016 transaction by the venerable British bank.
November 26
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The prime consumer loans backing the $330M CLUB Credit Trust 2017-P2 transaction include a greater percentage of higher-FICO borrowers.
November 26
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For now, performance continues to improve, but the percentage of borrowers of traditional private student loans seeking temporary payment relief rose to 2.5% from 2.0% as a result of Hurricanes Harvey and Irma.
November 22
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The deal will relaunch with a weighted average spread (4.22%) and excess spread (2.86%) well above the three-month industry average for issued U.S. CLOs.
November 22
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The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.
November 21
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Collateral for the deal, which is structured as a master trust, can reach €30B of loans originated by the bank's building-savings affiliate, its retail operations and its private-bank unit.
November 21
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The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.
November 21
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The move convinced Kroll Bond Rating Agency to upgrade $95 million of securities, some of which had been under review for a possible downgrade for over a year; Kroll affirmed the ratings of another $63 million of bonds.
November 20
