Consumer lending

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.

Navient Corp. is returning to all fixed-rate collateral for its next securitization of refinanced private student loans issued via its Earnest affiliate to high-earning college graduate professionals.

The surge in originations during the first quarter more than offset a decline in demand for new leases.

Kroll has again downgraded the subordinate note classes for Honor Automobile Trust Securitization 2016-1, with total losses expected to build to $7 million to $8 million.

The $350 million GLS Auto Receivables Trust 2019-2 transaction is being issued on the heels of the lender's record $453.2M 1Q volume in originations.

A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws.

For the first time, the marketplace lender d/b/a Best Egg is securitizing loans from High Yield Prime borrowers who don't qualify for its prime loan products.

Democratic presidential candidate Elizabeth Warren proposed eliminating student-loan debt for an estimated 42 million Americans with a wealth tax

SLM Corp. wants to "target the people our competitors are targeting and bring on their federal balances" CFO Steven McGarry said during an earnings call.

Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.

In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to accept such payments.

Two deals Exeter completed in 2018 are performing worse than Moody's expected so its looking for additional losses on this deal; S&P sees losses in the same range as four prior deals.

Freddie Mac's latest nonperforming mortgage auction will include one pool targeted to smaller investors like nonprofit organizations.

More consumers were late in paying two major types of loans in the latest figures from the American Bankers Association, but it appears to be a relatively isolated problem.