Banking

Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”

The surge in originations during the first quarter more than offset a decline in demand for new leases.

Commercial mortgages placed into special servicing grew last year, but default and foreclosure dollar volume fell as legacy loan resolutions outpaced newly distressed loans, according to Fitch Ratings.

Kroll has again downgraded the subordinate note classes for Honor Automobile Trust Securitization 2016-1, with total losses expected to build to $7 million to $8 million.

The $350 million GLS Auto Receivables Trust 2019-2 transaction is being issued on the heels of the lender's record $453.2M 1Q volume in originations.

A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws.

Previous Freedom Financial securitizations were focused on the lender's controversial subprime consolidated loan originations.

Instead the online lender will refer commercial prospects to two partner companies as it seeks to focus on its core personal lending business.

For the first time, the marketplace lender d/b/a Best Egg is securitizing loans from High Yield Prime borrowers who don't qualify for its prime loan products.

Democratic presidential candidate Elizabeth Warren proposed eliminating student-loan debt for an estimated 42 million Americans with a wealth tax

SLM Corp. wants to "target the people our competitors are targeting and bring on their federal balances" CFO Steven McGarry said during an earnings call.

Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.

A quarterly IACPM survey shows far fewer credit managers planning for widening spreads this spring, staving off concerns for now of deteriorating credit conditions and macroeconomic troubles.

In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.

The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to accept such payments.

Two deals Exeter completed in 2018 are performing worse than Moody's expected so its looking for additional losses on this deal; S&P sees losses in the same range as four prior deals.

Urfer co-founded a business with the banking automation pioneer John Diebold, worked for Chase Manhattan and other major banks, and played an important role in the Nixon administration, phasing out exchange controls.

Freddie Mac's latest nonperforming mortgage auction will include one pool targeted to smaller investors like nonprofit organizations.

More consumers were late in paying two major types of loans in the latest figures from the American Bankers Association, but it appears to be a relatively isolated problem.