Banking

WFLOOR 2025-1's annualized monthly yield, which averaged 20% since 2018, has been consistently higher than most other dealer floorplan trusts that Moody's rates.

Top SBA lenders are warning about the impact of a prolonged shutdown. NewtekOne skipped providing fourth-quarter guidance after its CEO said the situation was too cloudy to forecast.

Late-stage mortgage delinquencies hit the highest level since January 2020 in September, a new report from VantageScore found.

This is PowerPay's second 144A transaction, which has a 90-day prefunded period, initially funded with $132.9 million in deposits.

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.

In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.

The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.

A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.

Equifax will hold costs for scores from FICO rival Vantagescore through 2027 and offer other incentives meant to drive adoption of the alternative metric.

The class A notes, which KBRA assigns a AAA rating, and which have the bulk of the outstanding note balance, $259.3 million, benefits from an enhancement level of 61.10%.

Goldman Sachs and Obra Capital are providing loan funding, and the Crescent Auto Finance acquisition brings a technology platform and loan portfolio.

Through a new program, mortgage resellers will be able to calculate and distribute credit scores directly to customers, reducing their reliance on credit bureaus.

College sophomores are applying for jobs before they've even taken a finance class. Goldman Sachs CEO David Solomon says he dislikes the process, but doesn't have the power to change it.

The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.

The Consumer Financial Protection Bureau received pointed pushback from banks in their public comments on a proposed rule that would slash the number of nonbanks being supervised in four key markets.

The company's advisers are sounding out lenders for new financing, which could be structured as a so-called debtor-in-possession loan to fund continuing operations if it begins the Chapter 11 process.

Banks are bracing for hundreds of millions of dollars in losses, while investors who piled into asset-backed bonds sold by the company as recently as June have seen the prices of their securities plunge.