Finance

The Obama administration and an independent federal banking agency are advising the Supreme Court not to review a lower-court ruling that has roiled the marketplace lending sector and caused consternation throughout much of the consumer finance industry.

Federal Housing Finance Agency Director Mel Watt sounded alarm bells Tuesday about Home Loan Banks' reliance on short-term funding in the form of discount notes.

The due-diligence firms that vet loans before securitization are erring on the side of caution when assessing the risk to investors of liability from the new consumer mortgage disclosure rules.

A surge of bankruptcies and a trio of distressed exchanges so far in May show that speculative-grade corporate liquidity remains under pressure heading into the summer, according to Moody's.

In a report published Tuesday, Wells said that retailer loans held by collateralized loan obligations are performing as well, if not better, than most of other loans in CLO portfolios, outside of the oil and gas industries. In addition, only 8% of retail loans in CLOs are trading under $80.

The Synchrony Credit Card Master Note Trust is issuing a $650.6 million notes offering including $547 million in Class A and Class B notes to be issued with 27% and 20% credit enhancement, respectively. That mirrors, to the dollar, its previous private-label credit card securitization in March.

Before we write off marketplace lending, let's remember: we are still at the relative beginning of this journey. There will be some bumps in the road, as there are for new companies in any field. Innovation takes time and so does building a great company.

Renovate America is marketing another $305.3 million of bonds backed by Property Assessed Clean Energy bonds financing energy efficiency renovations for California homeowners.

New Residential is marketing another $301 million securitization of re-performing mortgage loans, according to Moody's Investors Service.

A committee convened by the Federal Reserve to examine potential replacements for widely used interbank offered rate benchmarks has published its interim conclusions, identifying two potential alternatives.

Real estate investment trust Colony Starwood Homes is issuing its first securitization of single-family rental homes since it was created out of the merger of Colony American Homes (CAH) and Starwood Waypoint Residential Trust (SWAY) last January. Colony Starwood Homes 2016-1 is backed by a single $538 million loan secured by the investor-owner mortgages in 3,566 homes.

One of the country's largest online lenders is cutting jobs and shelving expansion plans in response to investors' rapid retreat from the beleaguered sector.

BPCE Group, France’s second-largest bank, is pooling together €5 billion (U.S.$5.6 billion) worth of personal consumer loans into a securitization portfolio, including a mix of auto, cash, home improvement and debt consolidation loans.

Now that it has the green light to expand its role in multifamily housing, Freddie Mac is looking to at more ways to shift the credit risk on apartment building mortgages that it insures.

American Honda and Ally Financial each filed for new securitization offerings Wednesday, with Honda launching its second ABS of 2016 with a $1.28 billion portfolio comprised of its typical low-interest, high credit-quality loans.

The $874.8 million in notes is backed by 4,053 individual loans by borrowers with blemished credit, but with rehabbed loans that have an average seasoning of 102 months. The borrowers have been current for at least the last 24 months.

SoFi Lending, the marketplace lender that specializes in refinancing student loans to borrowers in post-graduate medical, legal and professional fields, has baked some additional investor protections into its latest securitization.

GMF Floorplan Owner Revolving Trust 2016-1, totaling $592.47 million, is only the second-ever securitization of dealer financing receivables through the GFORT vehicle, founded in 2013.

After a nightmarish week, Lending Club now finds itself contemplating emergency maneuvers that would have been unimaginable at the start of the month.