Banking

The legislation, which the chamber passed Thursday, would ban collectors from making threatening statements to military service members and prevent credit bureaus from including debt arising from certain medical procedures.

Raising the capital gains tax and code changes could have more of an impact on the public debt market than rising interest rates, according to a panelist at the Urban Land Institute's Spring event.

Some worry the Senate’s rejection of the OCC rule hampers efforts to clarify legal standards for banks selling loans to fintechs.

If the lender's trust opts to upsize its second bond offering of 2021, the $2 billion-plus transaction would be Santander's biggest in the post-crisis era.

The total number of loans in this category dropped 11 basis points from week to week according to the Mortgage Bankers Association. Meanwhile, the amount of unpaid balance in forbearance dropped almost 23% since the start of the year, a separate report from Black Knight found.

The bonds backed by the primarily non-prime unsecured receivables have preliminary ratings of BBB (low) from DBRS Morningstar and BBB- from Kroll Bond Rating Agency.

More opportunistic borrowers may come as investors continue to pour money into U.S. leveraged loan funds, which have seen the longest positive streak since 19 weeks between February and June 2018.

Deals, trends and research in structured finance and asset-backed securities for the week of April 30-May 6

The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.

Goeasy would join the likes of Canadian non-prime lender Fairstone Financial Inc., which sold its inaugural ABS transaction in 2019. Also that year, Home Capital Group Inc. priced the first deal pooling non-prime Canadian home loans since 2007.