GreenSky exploring potential sale after earnings disappoint
The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.
Commercial lending
Online lenders make case for cash-flow data while acknowledging pitfalls
Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.
JPMorgan Chase ends business loan partnership with OnDeck
The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.
Einhorn bets against U.S. high yield, investment grade debt
“Rating agencies have been complacent and allowed debt/Ebitda and debt/equity ratios to deteriorate without a corresponding reduction in credit ratings,” Einhorn said in the July 25 letter.
Warren warns consumer, corporate debt could cause next crisis
The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.
Upgrade reduces prime-loan collateral in new master-trust issuance
The marketplace lender is marketing its third deal of 2019, and second issuance of notes through a newly formed master trust backed by unsecured consumer loans.
By
Glen Fest
Consumer lender Oportun lays groundwork for IPO
In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.
Ford more exposed to longer-term contracts in $1.1B lease ABS
The $1.11 billion Ford Credit Auto Lease Trust (FCALT) 2019-B has 20.2% of the securitization value tied to leases with terms over 36 months – up from 14.4% in FCALT 2019-A. It's the largest percentage for a Ford lease ABS deal since 2014.
By
Glen Fest
Tariffs present little risk to John Deere ABS performance, says Moody’s
China has few alternatives to replace its dependence on the U.S. market for soybeans, its major U.S. agricultural export, according to Moody’s.
By
Glen Fest
Nissan mulls another upsizing in next $1B U.S. auto lease securitization
For the first time, the captive-finance lender has also opted to add SOFR-based benchmark rate "fallback" plans into one of its deals, which would stand in for one-month Libor should the London interbank offered rate becomes unavailable in 2021.
By
Glen Fest
Life insurers’ upped mortgage investments risky in case of downturn
Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their portfolios in the event of a real estate downturn, a Fitch Ratings report said.
Fighting words: The marketplace lending debate heats up
MPL securitizations have yet to face a credit-cycle test. The discussion over how they will handle one is intensifying.
By
Glen Fest
Santander Consumer will pay $60M to remain a Fiat Chrysler partner
The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.
Banks exposed to possible loan market tumult, BIS says
Banks may be exposed to a shakeout in the $1.3 trillion leveraged-loan market even though they mostly own the safest portions of debt, according to the Bank for International Settlements.
Which fintechs are best positioned to handle a recession?
In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.
California on verge of capping rates on installment loans
The legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders.
Investcorp expands into direct lending with CMIP acquisition
The global alternative asset manager is buying a majority stake in the investment advisory of CM Finance, which lends and makes equity investments in middle-market companies.
By
Glen Fest
Loss projections curbed in Marlette’s next MPL securitization
Kroll Bond Rating Agency is projecting lower net losses on Marlette Funding’s next online unsecured consumer-loan securitization pool because of slightly improved credit metrics.
By
Glen Fest
ABS platforms have varying risks to growing truck collateral exposure
A DBRS report states rising concentrations of light-duty truck collateral adds risks to vehicle securitization portfolios, but risk may differ among ABS types.
By
Eliana Perez
‘The risk isn’t in the banks’: Fed’s Powell on leveraged lending
Federal Reserve Chairman Jerome Powell says the agency is closely monitoring leveraged lending risks, but suggests further regulations on banks aren’t warranted.
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