Banking

The electric car maker was able to offer less credit enhancement on the senior tranche of notes to be issued because residual value accounts for less of the collateral than its prior deal.

The transaction has a senior-note tranche with a double-A rating from DBRs, and is being arranged by Banco Santander.

Many banks remain wary of student loans given the government's dominance in the market, but some fintechs see untapped potential.

This marketplace lender's third securitization of the year again features fewer 60-month loans, slightly higher FICOs and lower coupons.

A joint venture between the REIT and two Chinese investors obtained a $364 million five-year, fixed-rate loan on the portfolio from Column Financial.

Democrats on the House Financial Services Committee are expected to shine a spotlight on Trump-appointed regulators, but that light might shine brightest on one agency in particular.

The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials.

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

It’s a trend that bears watching, particularly for holders of the riskiest securities issued in subprime auto securitizations, according to S&P Global Ratings.

The amount of debt owed by businesses and the valuations of corporations are elevated, creating a growing source of concern, the Federal Reserve said Wednesday.

Seth Frotman oversaw the $1.5 trillion student loan market for the Trump administration. Now he's starting his own watchdog group to do what he says the government won't, and he's poaching former colleagues to do it.

The $175 million deal is backed by loans with an average balance of $2,365; fewer of them are "renewal loans" to existing borrowers who qualify to borrow more because of previous on-time payments.

Kathy Kraninger, who may get a confirmation vote as early as this week, has suggested a similar vision to that of the agency’s current acting chief. But some see signs she could bring a different approach to the job.

Cracks may be visible in U.S. leveraged loans, but investor concerns about credit are "somewhat overblown," according to JPMorgan Chase.

The Massachusetts senator said the government’s findings bolster allegations that the servicer steered borrowers into expensive student loan forbearance plans.

The effort to raise the threshold for transactions excused from appraisal requirements responds to concerns that the current threshold is outpaced by real estate prices.

The agency alleges the subprime auto lender violated consumer finance laws by misrepresenting the level of guaranteed insurance protection.

The rating agency is now considering lowering its BBB rating on the class B notes. The rating agency also downgraded the class C notes issued in the deal, for a second time, to CC from CCC+.

Subprime originations are climbing in multiple consumer loan categories, including mortgages, but the increase is much smaller in the home loan sector than it is in other markets, according to TransUnion.

Citigroup CEO Michael Corbat added to the chorus of bankers offering warnings about credit risks that loom outside of the banking industry.