Consumer lending

Black Knight’s product is designed to assist mortgage lenders in performing due diligence while also preventing heightened risk of foreclosure losses.

U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.15-21

Declining month-over-month delinquency levels and the rollout of COVID-19 vaccinations potentially give hope to more normalized economic activity.

Federal relief efforts have minimized loan losses so far, but risks remain in credit card, auto and business lending. Many borrowers will need another lifeline to stay afloat until the economy rebounds, CEO Jamie Dimon says.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.7-14

The online installment lender is the latest consumer-focused tech company to see its stock price soar on the first day of trading.

The subprime auto lender, which specialized in post-bankrutpcy loans, has a greater share of direct-channel loans (typically refis) compared to its lone 2020 asset-backed offering.

Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.

The deal between San Francisco-based lender and Social Capital Hedosophia Holdings Corp. V is latest example of a closely held firm going public by merging with a special purpose acquisition company.

Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 31-Jan.7

The largest U.S. shopping center became delinquent on its debt last year after its owner Triple Five Group began skipping mortgage payments, citing hardships from the COVID-19 pandemic.

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

Seven states and the District of Columbia want to invalidate a new federal rule that threatens to hinder states’ power to cap interest rates on consumer loans.

While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.

Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.

With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.

The agency said Omni Financial in Las Vegas illegally required service members to designate a portion of their paychecks to repay loans, depriving of them of other payment options.

Several consumer advocacy organizations have urged the Office of the Comptroller of the Currency to deny the online lender's application for a national bank charter, citing concerns about its lending and debt-collection practices.