Packaged by AI, managed by AI
Banks and lenders have made inroads in analytics and automation with machine-learning technology. Will asset management follow suit?
By
Glen Fest
Commercial lending
Kabbage issues $200M in additional notes to 2019-1 ABS series
According to a presale report from Kroll, the additional notes will carry the same ratings and terms on the five counterpart classes of $700 million in outstanding notes.
By
Glen Fest
‘Nobody has working capital’: Ag lenders lament trade war’s impact
So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.
Loan index negative returns again plagued leveraged loans in October
Over 75% of loans reported mark-to-market declines in prices in the secondary market – or 4.7 loans for every loan price that advanced, according to the LSTA.
By
Glen Fest
Mercedes-Benz limits maturity concentrations in new U.S. auto-lease ABS offering
According to presale reports, Mercedes-Benz Auto Lease Trust (MBALT) 2019-B will have only two months over the life of the deal in which there is more than a 5% concentration of expected lease maturities.
By
Glen Fest
Collateral quality dips for new RAC King subprime auto lease ABS
Loss expectations are up slightly for the second retail auto lease securitization of the year for RAC King the parent company of the regional “buy here/pay here” used-car chain American Car Center.
By
Glen Fest
‘We don’t need to be scared by sunshine’: Industry backs CFPB rule
At a forum convened by the CFPB, several bank and fintech executives argued that long-delayed rules required under the Dodd-Frank Act can help fight discrimination and shine a light on unsavory practices in the market for small-business credit.
Pennsylvania regulators hit SoFi with enforcement action
The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.
Global banks hung on $1.5 billion of loans as investors cut risk
Lenders including Barclays and Deutsche Bank have been left holding at least $1.5 billion of leveraged loans that they've struggled to sell over the past several months, according to people with knowledge of the matter.
Opinion: Goldman Sachs is either mad or brilliant on junk bonds
No investor wants to touch the riskiest high-yield debt. The bank’s asset manager says it’s cheap enough that there are opportunities.
J. Crew ‘blockers’ still largely absent from loan agreements
S&P's review of leveraged-loan deals across multiple sectors found only 17% of lenders have provisions that would disallow borrowers from transferring collateral assets to unrestricted subsidiaries outside lender reach.
By
John Hintze
WeWork prefers JPMorgan financing lifeline to rescue by SoftBank
The $5 billion financing package may also include around $1 billion of secured debt that would be sold to investors, as well as about $1.7 billion in letters of credit that would be split among participating banks
Kroll notes mixed year-over-year performance in fintech ABS
Kroll Bond Rating Agency has tracked rising levels of annualized net losses in marketplace-loan securitizations except for, ironically, the riskiest pools it tracks from unsecured subprime lenders: both losses and delinquencies for subprime lenders' outstanding securitizations have fallen from September 2018 levels.
By
John Hintze
LendingClub’s new pitch to institutional investors
The company has rolled out an online platform for firms considering marketplace loans as an asset class.
A $40 billion pile of leveraged loans is battered by big losses
Barely noticed in a corner of the financial markets, leveraged loans originally worth about $40 billion are staging their own private meltdown.
Can Freddie Mac’s embrace of AI pull the industry along?
Freddie Mac's test of artificial intelligence to make lending decisions could be a significant turning point in broadening the use of the technology.
Volkswagen revives U.S. lease ABS platform, sans diesel autos
In the pool of 46,070 vehicles in the $1 billion pool or 59,863 in the $1.3 billion pool, none are equipped with diesel engines that were at the center of Volkswagen’s worldwide emissions scandal in 2015.
By
Glen Fest
Fintech lenders taking more market share from banks, survey finds
Digital-first lenders more than doubled their market share in the last four years, according to a report by Experian.
Report: Marketplace lending growth on furious upswing
Digital loan underwriting has taken the lion's share of the volume of unsecured consumer lending, a sector with plenty of room for growth, according to DBRS.
Upgrade again taps master-trust platform for ‘near-prime’ loan mix
The third issuance from the master trust has a higher average interest rate and greater expected losses than previous pools due to the inclusion of more higher-risk marketplace loans.
By
Glen Fest
Load More
Couldn’t load more articles. Try again.