Consumer lending

As apps like Uber and Lyft gain more traction, the need for new cars ⁠— and loans ⁠— is expected to diminish.

Kroll Bond Rating Agency has tracked rising levels of annualized net losses in marketplace-loan securitizations except for, ironically, the riskiest pools it tracks from unsecured subprime lenders: both losses and delinquencies for subprime lenders' outstanding securitizations have fallen from September 2018 levels.

The company has rolled out an online platform for firms considering marketplace loans as an asset class.

The industry had welcomed the Consumer Financial Protection Bureau plan allowing debt collectors to use electronic communication, but some worry about the effect of a court decision concerning email correspondence.

The transaction is the first securitization sponsored by the auto finance company since S&P Global downgraded four classes of subordinate notes in prior transactions due to higher-than-expected losses.

Arivo Acceptance, a two-year-old specialty-finance auto lender, is launching its debut securitization of subprime and non-prime loans for new and used cars, trucks and SUVs.

About 10% of the collateral pool consists of prime loans with extended term loans of 78 months excluded from World Omni's prime securitization platform.

The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.

A hearing on legislative proposals exposed a sharp partisan divide over a regulatory plan to restrict the frequency of collection calls.

Digital-first lenders more than doubled their market share in the last four years, according to a report by Experian.

Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.

A subsidiary of Citizens Financial Group placed first in a recent J.D. Power ranking of car dealer satisfaction with noncaptive auto lenders. However, that group — primarily banks and credit unions — lagged other types of auto lenders.

Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau.

The tech-driven asset management firm announced it had closed a $115 million asset-backed securities deal led by Cantor Fitzgerald, with unsecured consumer loans acquired from Prosper Marketplace.

The LendingPoint 2019-1 trust will market $169.4 million in notes backed by 18,760 loans with a collective balance of $178.3 million.

Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints.

Of the roughly $250 billion severely derogatory outstanding balance, defaulted student loans make up 35%, a New York Fed report found. That’s a new phenomenon.

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.

The decline in the share of "cured" delinquent loans is a potential signal for increased securitization losses in the months to come.