Banking

Nissan’s deal is backed by loans and will be sized at $1 billion or $1.3 billion, depending on demand. Hyundai Capital’s $1 billion transaction is backed by leases ranging from 24 to 48 months.

The legislation, introduced by Rep. Patrick McHenry, R-N.C., would essentially reverse a court ruling that marketplace lenders say has blocked them from helping more consumers access credit.

The online small-business lender is enjoying a payoff from its year-old push to cut costs and tighten underwriting standards. It is also set to announce another lending agreement with a major bank this year, its CEO said Tuesday.

Nearly 52% of the pool in the captive-finance company's first 2018 vehicle-lease securitization involves contracts for popular crossover models like the Chevrolet Equinox, the GMC Acadia and Cadillac XT5.

The three offerings push the first-quarter volume of subprime auto loan asset-backeds past $5 billion, an indication of unwavering demand for the risky asset class.

The Los Angeles-based distressed-debt specialist has $20.5 billion in dry powder, including over $8.8 billion in uncommitted capital stored in a dormant opportunities fund.

If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.

Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged.

The Federal Housing Finance Agency said Friday it will give commenters more time to weigh in on a potential update to the credit scoring requirements for Fannie Mae and Freddie Mac.

Over 94% of the collateral pool consists of diesel-engine vehicles, even though diesel cars have had waning interest among French drivers in the past decade.

The deal was launched shortly after SoFi announced that Anthony Noto, the chief operating officer of Twitter, will join as CEO. It also benefits from higher credit enhancement.

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.

The online lender to small businesses is expanding its business deeper into traditional banks’ territory with larger loans.

Social Finance has acquired the engineering and product teams of mortgage startup Clara Lending, bolstering the financial technology company's offerings beyond student-loan refinancing, according to people familiar with the matter.

The single-B rated company is facing a large cash requirement as it ramps up production of its Model 3; but leases backed by electric vehicles pose additional risks for investors in asset-backeds.

The credit quality of the collateral appears to have improved, but investor protections have also decreased; as a result, Kroll is only assigning an 'A' to the senior tranche of notes.

David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself.

StreetShares seeks to tap into the loyalties of military veterans, bringing together borrowers and savers through an online platform.

The deal is the first vehicle loan securitization for the London affiliate of South Africa's FirstRand Group since November 2016.

Refi loans that the servicing behemoth is making through Earnest do not require the same amount of seasoning as new in-school loans, and so can be securitized much sooner.