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Banks and companies that use artificial intelligence to make loans agree with regulators that it should be tested for fairness. But they also say traditional loans could be just as biased.
February 14
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The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.
July 29
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Avant Loans Funding Trust 2021-REV1 is a $200 million note offering backed by loans underwritten through its Avant platform. The $500 million OneMain Financial Issuance Trust 2021-1 is the first deal of the year for OneMain, which has previously issued 23 consumer loan securitizations and five auto-loan ABS deals.
May 17
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Some worry the Senate’s rejection of the OCC rule hampers efforts to clarify legal standards for banks selling loans to fintechs.
May 12
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The bonds backed by the primarily non-prime unsecured receivables have preliminary ratings of BBB (low) from DBRS Morningstar and BBB- from Kroll Bond Rating Agency.
May 10 -
Deals, trends and research in structured finance and asset-backed securities for the week of April 30-May 6
May 6
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Goeasy would join the likes of Canadian non-prime lender Fairstone Financial Inc., which sold its inaugural ABS transaction in 2019. Also that year, Home Capital Group Inc. priced the first deal pooling non-prime Canadian home loans since 2007.
May 5 -
Defaults and delinquencies are below pre-pandemic levels for online consumer loans held in securitization pools, but Fitch is concerned normalization may be shortlived as expanded unemployment benefits and other stimulus support programs draw to a close.
May 4
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Deals, trends and research in structured finance and asset-backed securities for the week of April 23-29
April 29
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The subprime consumer lender will also collateralize loans from its newly launched secured-loan platform in its second securitization of 2021.
April 26
