Consumer lending

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.

Losses on Conn’s consumer loans are stabilizing, and the electronics and appliance store chain sees an opportunity to reduce the level of credit enhancement for its latest securitization.

The San Francisco fintech, which uses artificial intelligence to make consumer credit decisions, has raised an additional $50 million. It also announced new partnerships with lenders and plans for a credit card.

The regional direct lender caters to very risky and highly leveraged borrowers (507 FICO, 163.95% LTV), but is offering relatively little credit enhancement compared to its peers.

The lawmakers are questioning the agency about its oversight of student loan servicers involved in a federal loan forgiveness program.

The proposed rollback of underwriting requirements for small-dollar lenders could redefine a legal doctrine that governs rules affecting other companies as well.

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.

Susan Ehrlich, the fintech lender's new chief, discusses what she learned working at Amazon and Simple and how her firm is approaching consumer loans differently.

In a unanimous ruling, the court placed new limits on the ability of consumers to sue law firms that handle foreclosures on behalf of mortgage servicers.

Unusually, all of the loans in the $374 million transaction were purchased from a single originator, Impac Mortgage.

The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts.

The company spun out of DriveTime is paying for the privilege, however; it's offering 50.3% credit enhancement on the senior notes of the $338 million deal rated by Kroll.

The company controlled by Emerald Development Managers has already ceased originating; S&P has notes from a 2016 securitization on watch and Kroll is monitoring the situation.

Seven years after James Gutierrez left Oportun Financial and started a competitor, the acrimony sparked by the divorce is coming into public view.

The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.

While S&P expects higher net losses to over a five-year span, Kroll believes stricter reinvestment criteria for the extended revolving period can reduce them.

The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.

The $1 billion DRIVE 2019-2 is backed by loans with slightly weaker credit metrics than the lender's prior deal, forcing it to increase credit enhancement.

The Atlanta company, which reported fourth-quarter results Tuesday, said that the lending partnership with American Express will launch in Atlanta, Chicago, Dallas, Los Angeles and Dallas within the next 60 days.