Banking

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

The $5 billion financing package may also include around $1 billion of secured debt that would be sold to investors, as well as about $1.7 billion in letters of credit that would be split among participating banks

As apps like Uber and Lyft gain more traction, the need for new cars ⁠— and loans ⁠— is expected to diminish.

Kroll Bond Rating Agency has tracked rising levels of annualized net losses in marketplace-loan securitizations except for, ironically, the riskiest pools it tracks from unsecured subprime lenders: both losses and delinquencies for subprime lenders' outstanding securitizations have fallen from September 2018 levels.

The company has rolled out an online platform for firms considering marketplace loans as an asset class.

Barely noticed in a corner of the financial markets, leveraged loans originally worth about $40 billion are staging their own private meltdown.

The industry had welcomed the Consumer Financial Protection Bureau plan allowing debt collectors to use electronic communication, but some worry about the effect of a court decision concerning email correspondence.

The transaction is the first securitization sponsored by the auto finance company since S&P Global downgraded four classes of subordinate notes in prior transactions due to higher-than-expected losses.

Arivo Acceptance, a two-year-old specialty-finance auto lender, is launching its debut securitization of subprime and non-prime loans for new and used cars, trucks and SUVs.

Freddie Mac's test of artificial intelligence to make lending decisions could be a significant turning point in broadening the use of the technology.

About 10% of the collateral pool consists of prime loans with extended term loans of 78 months excluded from World Omni's prime securitization platform.

The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.

Jelena McWilliams told community bankers that policymakers should be a resource for banks trying to adopt new technology.

In the pool of 46,070 vehicles in the $1 billion pool or 59,863 in the $1.3 billion pool, none are equipped with diesel engines that were at the center of Volkswagen’s worldwide emissions scandal in 2015.

A hearing on legislative proposals exposed a sharp partisan divide over a regulatory plan to restrict the frequency of collection calls.

Digital-first lenders more than doubled their market share in the last four years, according to a report by Experian.

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.

Digital loan underwriting has taken the lion's share of the volume of unsecured consumer lending, a sector with plenty of room for growth, according to DBRS.

Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.