Banking

The $426.2 million COLT 2017-2 is backed entirely by loans originated by Caliber, an affiliate of private equity firm Lone Star Funds. There are no loans originated by Sterling Bank & Trust, which accounted for 22% of the collateral for the prior deal.

The credit quality of the collateral is lower, by several metrics, than that of Exeter's prior deal; however, S&P Global expects cumulative net losses to be in the same range, from 20.1%-21.1%.

Ford Motor Credit, GM Financial and Fifth Third Bancorp are marketing a combined $3.4 billion in prime auto loan and lease asset-backed securities, according to presale reports published Thursday.

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.

An artificial intelligence model predicted creditworthiness more accurately than traditional models in an experiment conducted by the auto lender. The technology someday could be used to find hidden gems among loan applicants — emphasis on the someday.

As Republicans policymakers pursue efforts to revamp the Consumer Financial Protection Bureau and replace its leadership, state agencies are already preparing to fill any vacuum that might ensue if the CFPB steps back.

Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital.

Scott Powell will lead the auto lender while continuing to serve as CEO of Santander Holdings, the U.S. division of the Spanish banking giant Banco Santander.

More than 20% of the pool is comprised of well-seasoned subprime auto loans previously securitized in American Credit Acceptance's asset-backed deals in 2012-2014.

The commitments were the residue of restrictions that were placed on Ally in the wake of government bailouts in 2008 and 2009.

A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

Balances 90 days past due are noticeably higher in 2017, new N.Y. Fed data shows. Though the trend has a lot to do with positives like economic expansion and easier access to credit, officials say it deserves careful attention.

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules.

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

Both lenders are on their third auto-loan securitization of the year, with little variance from previous credit enhancement or expected loss levels.

So-called transitional lending has traditionally been kept on balance sheet; but it’s become attractive to bundle the loans for transactions called (take a deep breath) commercial real estate collateralized loan obligations. Can investors stomach the features these deals sported before the crisis?

JPMorgan Chase is among four banks sued by a trustee for investors in the debt of Millennium Health LLC, alleging the lenders failed to inform them of a federal probe into the billing practices of the borrower.

Insurers are seeing modest gains in market share as banks, facing increased scrutiny from regulators, lightly tap the brakes.

A new loan origination platform uses predictive scoring allowing Prosper to expand its risk appetite to more sub-700 FICO borrowers