Banking

Marlette sharply reduced the share of sub-700 FICO borrowers, while also tightening a trigger tied to cumulative loss rates to enhance investor protections.

The deal comes a year after the captive finance company began excluding low-FICO loans from its primary auto loan ABS platform.

It's the first time any of the rating agencies has assigned an AAA for any securitization of consumer loans by a marketplace lender.

Margaret Keane discussed Synchrony's investments in technology, including how the card issuer plans to use customer data to help retailers create targeted ads, during an appearance Tuesday in New York,

The Federal Trade Commission, which issued a formal complaint against SoFi, is urging other lenders to review their advertisements for false claims about the benefits of refinancing.

Sales of older vehicles are on the rise and prices are headed back up, so there's more collateral available and it is also performing better.

The Federal Reserve is getting more concerned about risks from the leveraged loan market, with a key official saying it's now taking a "closer look" at whether banks are chasing deals without adequately protecting themselves against losses.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

Both S&P and Moody's have cut expected losses on $732 million deal, yet credit enhancement on the senior tranches is unchanged from the prior deal.

The credit quality of loans backing the Cailfornia-based lender's $183 million securitization is better than that of its inaugural deal, which was only rated 'A' by Kroll.

The $286.4 million deal is an important test for Upgrade, which has raised $142 million of equity over the past two years but has yet to turn a profit.

ODX will pursue deals with banks that want to use the New York lender’s technology to offer online small-business loans.

Citigroup spent years reeling in customers with promotional rates, many of which have expired or soon will. The bank thinks it can keep a large number of those customers and make more money off of them.

The California-based CDFI has a growing portfolio of renewal loans from prior borrowers eligible for higher credit limits.

The bureau says it lacks explicit authority to conduct routine supervision of lenders’ compliance with service member protections, but the decision has sparked pushback from the Defense Department and groups representing military personnel.

The fifth SDART deal of the year benefits from the same improvement in credit quality as other recent transactions from the platform.

The transaction's note size is to be determined, but is backed by €750M in lease-backed receivables, compared to €1.5 billion in VW's most recent German lease ABS in May.

The deal benefits from lower credit enhancement requirements after pooling higher FICOs and more seasoned contracts; but residual values continue to decline for the German automaker.

Consumer Portfolio Services' fourth auto-loan securitization of the year has a 3.97% share of loans previously assigned to CPS asset-backed portfolios, compared to an 11.97% share in its last transaction.

Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.