Consumer lending

To help determine certain forms of credit enhancement and loss triggers, LendingPoint 2021-B is tightening its definition of what a charged-off account is.

The trust excludes loans from about six states with active legislation addressing the exporting of usury rates to out-of-state borrowers.

Known as MOHELA 2021-3, the trust will issue a mix of fixed- and floating-rate notes from a capital structure with three tranches, or note classes.

Subprime borrowers whose credit scores have risen since they bought their cars are increasingly looking for a better deal. Credit unions and small banks are seizing the opportunity, often with the help of fintechs.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

Credit performance to LL ABS deals has been better than expected, as financial support to borrowers made exxtra cash available to pay down on other obligations.

Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.

The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.

The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.

The Detroit company, one of the nation's largest car lenders, enjoyed a surge in profits during the second quarter, largely due to strong consumer demand for vehicles. But how long will the good times last?