Banking

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

Similar to the sponsor's prior transaction, however, the collateral includes a large portion of loans underwritten using bank statements to verify borrower income: 49%.

Rep. Emanuel Cleaver, D-Mo., released a survey of lending practices that he said point to practices such as forced arbitration clauses and extracting a customer’s credit score to determine creditworthiness.

MountainView Financial Solutions is brokering a more than $3 billion package of Fannie Mae and government mortgage servicing rights originated primarily through third-party origination channels.

Partly for this reason, Kroll expects losses on the transaction, PMIT 2018-2, to reach just 12.4% over the life of the deal, down from 13.4% for the previous transaction.

The division, created after Sunflower hired lenders away from other banks, will focus on asset-based lending to middle-market companies and investors.

The investors initially won the right to sue as a group in 2015 before an appeals court reversed the ruling; the $13 billion lawsuit can now proceed as a class action.

Westlake increased the size of all eight classes of notes by at least 37% as investor demand surges for subprime ABS paper

Judges say a CashCall loan may have fit the state’s definition of an “unconscionable” interest rate.

It bothered Jeannie Tarkenton, founder of Funding University, that too many kids from lower-income families didn't graduate because they lacked just a few thousand dollars and couldn't get a loan.

Wells Fargo & Co. is considering whether to jump-start its shrinking student-lending business by catering to borrowers holding U.S. government loans.

The bureau is expected to choose an option that could trigger court challenges after a judge yet again refused to halt the rule’s compliance date.

Westlake's $800 million offering features increased exposure to loans sourced through a relationship with Ally Bank; CAC's $398 million deal is notable for having less seasoned collateral.

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.

The online small-business lender was aided by loan growth, wider margins and stable credit trends. Its shares surged by 25% after second-quarter earnings were announced.

Conn’s has increased the credit enhancement on its latest consumer loan securitization to account for rising losses on its managed portfolio, according to rating agency presale reports.

Toyota Financial Services has promoted a company insider to replace Mike Groff, who is retiring at the end of this month.

If President Trump’s tariffs on steel and other products stay in place long, big U.S. importers would be hurt and pass on the pain to their midsize and small-business suppliers — which are the bread and butter of commercial lending.

Loans backing the $1.2 billion AmeriCredit Automobile Receivables Trust 2018-2 have the highest weighted average FICO score in the history of the platform.

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.