Avant Expands into Auto Lending with New Refinance Product
The online consumer lender Avant is expanding into auto lending.
Consumer ABS
Supreme Court Throws Curveball in Big Case for Online Lenders
The Supreme Court on Monday asked the Obama administration to express its views in a case that has raised doubts about the business model used by many online lenders.
Reality Check for Marketplace Lenders
Social Finance's launch of a hedge fund to buy its loans should set off alarm bells among online lending cheerleaders in venture capital and stock markets; it also points the way to a long-term future for best-of-breed alternative lenders.
Mounting Fears in Subprime Auto Lending Recall ’90s-Era Bubble
The increasingly troubled sector often draws comparisons to the subprime mortgage market of the 2000s. But the more apt analogue is the auto-lending sector of the 1990s.
One Player Noticeably Absent from Citi-Prosper ABS Deal
No surprise, Moodys Investors Service has not been asked to rate Citigroups latest securitization of unsecured consumer loans originated by Prosper Marketplace.
CFPB Takes Action to Shut Down Student Debt Relief Scam
The Consumer Financial Protection Bureau asked a federal court Tuesday to shut down a California company accused of running a student debt relief scam that allegedly charged borrowers millions in illegal fees.
Prosper, HomeAdvisor Announce Deal on Home Improvement Loans
Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.
Late Payments on Subprime Auto Loans Surpass Crisis Levels
Late payments on subprime auto loans packaged into bonds have eclipsed 2009 recessionary levels and are now at a level not seen in nearly two decades, according to Fitch Ratings.
World Omni, Prestige Add Over $1B to Auto ABS Pipeline
World Omni Financial Corp. and Prestige Financial Services added a combined $1.17 billion of securities backed by auto loans to the new issue pipeline this week.
Automatic Student Loan Defaults Is Unfair Practice, CFPB Says
The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies.
Synchrony Sets $547M Credit Card Receivables Deal
Synchrony Financial has mapped out a public offering of $547.9 million in notes backed by credit card receivables, in the latest of 23 series it has outstanding through the Synchrony Credit Card Master Trust.
OneMain Back for Seconds with 2016-2 $444.5M Receivables ABS
One month after closing its debut consumer-loan securitization of 2016, OneMain Financial is returning with a second offering of $444.5 million in non-prime and subprime personal loans originated through its branch network.
Ford Plans Initial $952M Lease Securitization for 2016
Ford Motor Credit Co. is out with its first auto lease securitization of 2016, according to Fitch Ratings. The pool is backed 48,082 leases totaling $1.12 billion, a level consistent with Fords two previous deals completed in 2015.
Subprime Auto Loans Aren’t Looming Crisis: Report
Car loans in the U.S. are soaring, but don't expect a crash any time soon.
LendKey Hires Ex-Treasury Official as Credit Risk Chief
LendKey, which manages online lending programs for banks and credit unions, has named Salil Mehta to senior vice president of credit risk and analytics.
Mercedes Benz Returns to U.S. Market with Lease Securitization
Mercedes-Benz is offering its first auto lease-backed securities of the year, according to Standard & Poors.
CFPB Takes First Step Toward Regulating Marketplace Lenders
The Consumer Financial Protection Bureau's announcement Monday that it is accepting complaints about marketplace lenders is a sure sign it is moving toward regulating the burgeoning industry.
Conn’s Returns to ABS Market with $564M Subprime Deal
Conns Appliances is returning to the securitization market for the first time shedding $1.4 billion of delinquent and defaulted loans in September 2015 via an unrated transaction.
California Republic Ups Credit Quality of Latest Auto ABS
California Republic Bancorp.s first auto loan securitization of the year pools loans of slightly better credit quality, according to Standard & Poors which is rating the deal.
Borrowers Stretch Further as Auto Lending Remains Hot: Report
Auto lenders continue to defy warnings about growing risks in the market.
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