Consumer lending

The executives were hired for their focus on loan origination, portfolio management and securitization.

Foursight's first deal of 2019 has a rising 36.6% share of subprime borrowers from its lower-tier loan programs.

The CFPB issued a final rule late Thursday to delay the compliance date for mandatory underwriting provisions of the 2017 payday lending rule.

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession.

A decline in average FICO and recent loss levels in AmeriCredit's securitizations prompts Moody's to project slightly higher credit losses in the new transaction compared to previous rated deals.

The collateral will include $147.3 million in well-seasoned loans that were part of HESAA’s 2009 issuance, as well as up to $155 million in new loans that the trust will originate through an Oct. 31, 2020 prefunding and recycling period for the next academic calendar year.

S&P Global Ratings reports that cumulative loss levels on collateralized portfolios of subprime auto loans fell to 7.11% in March, compared to 8.67% in February. That figure was also down from 7.61% in March 2018, and the lowest since 2016.

Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.

A Davis & Gilbert poll of market participants showed more expect delinquencies over the next one to two years, likely requiring credit enhancement in future deals.

The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws.

S&P Global Ratings forecasts lower losses in subprime lender American Credit Acceptance's next auto-loan securitization, citing the inclusion of performing loans transferred from a recently called deal.

Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech.

The official told lawmakers Thursday that the research underlying the bureau's 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans.

The portion of Americans with a car loan climbed to 35% last year from just 20% in 1999, the New York Fed said in a blog post. Auto loans first overtook mortgages in 2013 and have pulled further ahead every year since.

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.

Santander Drive Auto Receivables Trust 2019-2 has a lower average FICO (600) and lighter seasoning (two months) compared to SDART 2019-1.

The Atlanta company reported a first-quarter revenue increase of 22%, and it has established a more aggressive target for the full year.

The long-awaited proposal includes safe harbors to protect collectors from getting sued, but would restrict phone collection attempts and allow borrowers to opt out of receiving other communications.

Securitized loans originated outside the Qualified-Mortgage rule's parameters have looser underwriting guidelines than mainstream loans do today, but are more tightly underwritten than past subprime or alternative-A products, according to DBRS.

DT Auto Owner Trust 2019-2 will issue five classes of notes, collateralized by $550 million in auto loans issued through company-owned "buy here-pay here" dealerships.