Finance

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates.

The company is lending less and issuing smaller securitizations this year, but investors keep flocking to the subprime lender's paper.

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.

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

A bipartisan coalition of AGs and officials representing 25 states sent a letter to Education Secretary Betsy DeVos today urging the department to reject what they said was a campaign to dismantle state oversight of the industry.

The second liens, which accompany CMBS first mortgages, range in size from $500,000 to $5 million, a segment of the market that is not well served by either banks or debt funds.

Deserve is offering unsecured cards to young adults who do not have traditional credit scores. The Silicon Valley startup uses a proprietary algorithm that analyzes bank account activity to evaluate the likelihood that borrowers will repay.

The company, formerly known as Colony American, completed three previous transactions, the last one in 2016, before rules requiring sponsors to keep “skin in the game” of their deals took effect.

The U.S. Second Circuit ruled that Momentive Performance Materials should use what's known a a "market rates" formula to determine the appropriate payout for a series of replacement notes issued to bondholders.

Veros is based in California but recently expanded on the East Coast, resulting in a dip in credit performance; Kroll capped its rating in the senior notes of the $165 million deal at single A.

After issuing only a single prime auto lease securitization in 2016, Ford Motor Credit's trust has returned to its traditional twice-annual schedule it followed from 2010-2015.

Capital Auto Receivables Asset Trust has just 3.3% of the pool comprised of manufacturer subsidized loans, down from 9.9% in Ally's prior CARAT deal in July 2016.

With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier.

While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.

Fitch and KBRA have slightly lower estimates for cumulative net losses for 2017-3, allowing the marketplace lender to offer slightly lower credit enhancement on the senior notes; concerns remain about poorly performing legacy loans.

Called Structured Agency Credit Risk Securitized Participation Interests, the new securities are backed by mortgage loans, and are not general obligations of the government-sponsored enterprise.

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

Coping with merging two securitization platforms and the integration of GE Capital's former fleet lease and management business, the Canadian lessor has seen 30-plus and 60-plus delinquencies more than triple.

Many of the prime jumbo loans backing the transaction, JP Morgan 2017-4, were contributed by originators with limited history in that product, according to DBRS.