Banking

Early-stage delinquencies were up slightly in both prime and subprime auto ABS pools, according to the agency's report for January.

A back-office blunder is leaving the financial behemoth faced with the prospect of becoming one of the biggest creditors to the troubled cosmetics empire.

While the Mortgage Bankers Association hailed the move, some experts say it could negatively impact housing inventory.

Citigroup unexpectedly lost a legal battle to recover half a billion dollars it sent Revlon lenders, after the embarrassing blunder forced it to answer to regulators and tighten its internal controls.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 5-11

Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter.

The eight-year-old finance company closed on its fourth overall securitization, in what was its largest ABS bond issuance to date.

Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.

The biggest U.S. banks reduced the portion of their collective balance sheets they’re dedicating to loans to a new low, extending a trend that’s seen the largest lenders put less and less of their firepower behind everyday borrowers.

The rise in sales comes as risk premiums for new transactions have tightened to pre-pandemic levels, marking a stark turnaround in a sector with heavy exposure to company bankruptcies caused by the lockdowns.