P-to-P Lender Prosper Names USAA Executive CFO
Prosper Marketplace has tapped a USAA executive to be its next chief financial officer.
Consumer ABS
Why Lending Club is Changing its Business Model
The marketplace lender hopes that its new fee structure will help thwart a legal challenge.
SEC’s Piwowar Takes on “One-Size-Fits-All” Risk Retention
The Securities and Exchange Commissioner took to the podium in the convention center of the Aria Resort & Casino to express to attendees his admiration for the economic benefits of securitization and his disagreement with the risk-retention regulatory regime that has enveloped it.
ABS Vegas: Limits Seen for Marketplace Lending
Panelists and attendees at the ABS Vegas 2016 conference conveyed varying levels of doubt about at the prospects for securities backed by consumer and small-business loans originated through online lending platforms like Lending Club, Prosper and Funding Circle.
NewOak Adds Expertise in Regulatory Compliance for Auto Lending
NewOak named Jonna Boyle as a director in Credit Services LLC, a consultancy that specializes in providing credit and regulatory compliance for commercial and consumer loan products.
Lending Club Tweaks Business Model in Effort to Thwart Legal Challenges
Lending Club announced Friday that it is making changes to its contractual relationship with the bank that issues its loans. The move is designed to protect San Francisco-based Lending Club against legal challenges to its business model.
Navient Preps 1st FFELP Securitization of 2016
Navient is marketing $1.1 billion of bonds backed by federally guaranteed student loans, according to Moodys Investors Service.
Capital One Adds Former Amazon Exec to Its Board
Capital One Financial in McLean, Va., has added Amazon's former chief information security officer to its board of directors.
RCI Bank Issues Another 109.3M French Auto ABS
DBRS assigned AAA ratings to 109.3 million ($120.9 million) of notes issued from RCI Banques Cars Alliance Auto Loans France Master.
Marketplace Lending’s Big Investors Grow Anxious
The go-go days of marketplace lending have screeched to a halt in recent weeks, as anxiety spreads among the big-money investors who fueled the sector's rapid growth.
SoFi, DRB Launch High-End Student Loan ABS Deals
A pair of private student loan securitizations featuring pools with high-end borrowers in the post-graduate medical, legal and professional fields went to market on Wednesday.
More Subprime Borrowers Are Falling Behind on Their Auto Loans
More borrowers with spotty credit are failing to make monthly car payments on time, a troubling sign for investors who have snapped up billions of dollars of securities backed by risky auto debt.
Delinquencies Fall in EU Auto ABS Receivables
The Fitch European Auto ABS delinquency indices for both early (30+ days) and late (60+) delinquencies fell to 0.69% and 0.34% respectively, the lowest point in the last 11 years for each.
Get to Know Your Marketplace Lenders.
The terms "peer-to-peer" and "marketplace" lending are often used interchangeably to define all manner of loans made through the Internet. The reality, though, is that aside from lacking storefronts, the many firms now operating in this arena have little in common with one another. Here's a guide to help tell them apart.
Few Auto Lenders Follow Ford Credit’s Lead on Reg AB II
Ford Motor Credit went the extra mile in complying with Regulation AB II, but it turns out that other auto lenders dont have to.
Ford, Ally, Toyota Add Over $3B to Prime Auto ABS Pipeline
Toyota Motor Credit is prepping a $1.25 billion offering of securities backed by prime auto loans.
Scalia’s Death is a Setback for Online Lenders
The burgeoning industry has been hoping the Supreme Court will overturn a problematic lower-court ruling, but the unexpected passing of Justice Antonin Scalia makes this less likely.
Scalia’s Death Is a Setback for Online Lenders in Key Court Fight
The burgeoning industry has been hoping the Supreme Court will overturn a problematic lower-court ruling, but the unexpected passing of a conservative stalwart makes that outcome less likely.
Lower-Risk Collateral Highlight GM’s $1B Lease Trust
GM Financials first auto lease securitization of 2016 is a $1 billion transaction that tilts toward higher average customer credit scores and more shorter-term contracts compared to previous GM lease ABS issues.
Honda Markets 1st 2016 ABS with $1.03B Offering
The notes are backed by Hondas typically strong collateral in prime loans with high-quality credit borrowers (average FICO of 761) and lengthy seasoning (13.61 months), and supported by a hard credit enhancement of 2.75%. But the new securitization continues a recent trend in Honda ABS issuance that includes more long-term loans in excess of 60 months.
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