Finance

Ford Motor promoted veteran executive Joy Falotico to lead the Ford Credit lending unit, making her the first woman to run the operation that provides financing to auto buyers and dealers worldwide.

Colony Starwood Homes has sold a portfolio of 1,675 nonperforming loans, as it winds down its business in the space.

Moody’s Investors Service has assigned provisional ratings to five classes of notes in STORM 2016-II B.V., a €1.15 billion pooling of 5,729 30-year home loans to consumers in The Netherlands. The sizes of the Euro-denominated notes are to be determined.

World Omni is braving the August hear to bring $941.49 million of notes backed by auto loans to market.

High investor demand for collateralized loan obligation paper is squeezing spreads to their tightest levels in more than a year, even as improving monthly CLO issuance has reached its highest level of 2016.

Former Mortgage Guaranty Insurance Co. Chairman and Chief Executive William Lacy Jr. died Sunday from respiratory failure. He was 71.

Equifax and TransUnion have stopped offering traditional credit reports, replacing them with the more expensive trended credit reports that Fannie Mae plans to start using but that other investors don't

Fitch has taken a slightly dimmer view of Midland Loan Services’ ability to workout distressed commercial mortgages.

In a report published Thursday, Moody’s Investors Service warned that loans backed by shopping centers are an increasing cause of concern for mortgage bond investors and provided some criteria for evaluating the long-term viability of regional malls.

Ocwen Financial Corp.'s loan servicing subsidiary has reached a settlement with the Washington State Department of Financial Institutions' consumer services division over the servicer's practice of using unlicensed offshore companies.

Ygrene Energy Fund has appointed three finance veterans to manage growth, issue securitizations and support capital raises as the company expands to meet demand from institutional markets.

Nat Hoopes, executive director of a trade group that represents the chief executives of Wall Street banks, is making the jump to fintech.

The weaker collateral pools in recent-vintage subprime auto loan pools are leading to rising delinquencies and portfolio losses, with July's annualized net losses climbing 17% month-over-month, and 28% year-over-year.

Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.

Lending Club hired a pair of Wall Street executives to strengthen relationships with investors after many pulled back from buying the loans it arranges online during a tumultuous second quarter.

NorthStar Education Finance, a Delaware non-profit, is marketing $90 million of bonds backed by private loans to medical and law students.

The Federal Housing Finance Agency is seeking to make it easier for Federal Home Loan Banks to accept certain kinds of collateral for advances.

Santander Consumer USA Holdings again delayed its second-quarter results and financial statement due to ongoing discussions with federal regulators about accounting issues.

Despite headwinds working against the mortgage insurance industry, this business could be the catalyst for bringing private capital back to the mortgage market.