Banking

Fears of widespread credit losses have largely subsided, but demand for new commercial real estate loans remains lackluster because many companies are sitting on so much cash they don’t need to borrow. Meanwhile, competition from private equity groups and other nonbank lenders is escalating.

Meanwhile, National MI has been increasing its new insurance written by slightly widening its credit standards.

The deal for the Salt Lake City-based home improvement lender, which Home Depot tried to acquire more than a decade ago, is part of a larger effort by Regions Financial to diversify its home lending business.

But March's overall late payment rate was 1.3 percentage points higher than one year ago, while the 90-day-plus rate was 2.3 percentage points higher.

The four-week high in forbearance exits also helped drive the considerable drop in plans, according to Black Knight.

A pool of subprime auto loans, new and used, and approved with a heavily automated, technology driven and multi-step process underpin a $559 million deal.

After a colossally “brutal” period in the beginning of the COVID-19 outbreak last year, a recent report from Kroll Bond Rating Agency noted that business development corporations mostly rebounded by year-end 2020 to bring a sense of renewed optimism into the alternative-lending space.

Investment Management Corp. of Ontario is investing $400 million to a customized portfolio, with the goal of capitalizing on Are’s all-weather approach, taking advantage of opportunistic dislocations and market inefficiencies. The remaining $100 million will be allocated to the flagship Ares Pathfinder fund.

For the first time since the pandemic began, the share of borrowers who are 30 days or more late on their payment is below 5%, Black Knight found.

Carvana Auto Receivables Trust 2021-N2 is the used-car retailer's ninth securitization since 2019, and the third to include a pool exclusively made of non-prime loans.