Banking

Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history.

But several still remain on watch for potential downgrades as the ratings agency assesses the near-term impact on marketplace lenders as federal support for consumers could be nearing an end.

The coronavirus relief law allows forbearance plans for up to a year on federally backed mortgages, but House Democrats say homeowners have had difficulty getting relief.

he report concluded that the industry should fare well compared with its peers, but that loans to mid-sized European companies remained vulnerable to fall-out from Covid-19.

Bankers Healthcare Group, affiliated with Pinnacle Financial, is launching into securitization to branch out from its primary strategy of selling its medical-professional loans to community banks.

Bankers had asserted in April that they could handle a slump in oil prices tied to the coronavirus pandemic. Continued volatility, combined with declining collateral values and a rise in bankruptcies for exploration companies, is denting their confidence.

The trustee is piloting a distributed-ledger program that can automate much of the interaction between originators, servicers and MBS investors.

Credit Acceptance Corp.'s second securitization of 2020 has a higher loss rate than the first deal due to COVID-19 worries, as well as rising loss levels in the lender's recent-vintage securitizations.

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.