Consumer ABS

The number of borrowers behind on private student loan payments rose slightly in the fourth quarter of 2015, but the overall trend is for continued improvement, according to Fitch Ratings.

Germany’s Bank11 fr Privatkunden und Handel GmbH (Bank11) is securitizing €550 million in auto-loan backed securities in a series of two classes of notes through its Revocar ABS platform.

The online consumer lender Avant is expanding into auto lending.

The Supreme Court on Monday asked the Obama administration to express its views in a case that has raised doubts about the business model used by many online lenders.

Social Finance's launch of a hedge fund to buy its loans should set off alarm bells among online lending cheerleaders in venture capital and stock markets; it also points the way to a long-term future for best-of-breed alternative lenders.

The increasingly troubled sector often draws comparisons to the subprime mortgage market of the 2000s. But the more apt analogue is the auto-lending sector of the 1990s.

No surprise, Moody’s Investors Service has not been asked to rate Citigroup’s latest securitization of unsecured consumer loans originated by Prosper Marketplace.

The Consumer Financial Protection Bureau asked a federal court Tuesday to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.

Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.

Late payments on subprime auto loans packaged into bonds have eclipsed 2009 recessionary levels and are now at a level not seen in nearly two decades, according to Fitch Ratings.