The online lender founded by Renaud Laplanche contributed half of the collateral for the $226.9 million transaction. It's also retaining a 5% economic interest in the deal.
The installment lender, which bills itself as an alternative to payday lenders, targets underserved communities and operates through a network of retail partners.
Late payments on loans backing commercial mortgage bonds continued falling at the start of the year, due to strong new issuance volume and continued resolutions for precrisis loans by special servicers, according to Fitch Ratings.
Chrysler vehicles dominate Santander's latest pool, reflecting increased originations that CEO Scott Powell believes will maintain the lender's captive-finance status.
In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.
As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.
Executives from Ally Financial and Santander Consumer USA gave rosy outlooks about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals.
Both lenders are boosting originations to borrowers with near-prime loans, though the impact on the overall credit quality of the collateral for their deals is slight.
Now that the noncompete has expired, Navient plans to market private student loans to borrowers in school; the servicing giant is also free from restrictions on marketing refinance loans through Earnest.
The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence.
The collateral for the $550 million transaction is slightly weaker than that of its prior deal, but rating agencies expect cumulative net losses to be in the same range.
More than 45% of collateral for the $254.4 million CPSART 2019-A are either "preferred," "super alpha” or “alpha plus”; that's up from 42.4% of collateral for the prior deal.
Affirm, which for six years has plied its trade as a point-of-sale lender, wants to move deeper into banking by offering a high-rate savings account.
CarMax Superstores' first $1.2B-$1.5B prime loan securitization of 2019 has its lowest concentration to date of passenger vehicles in its nearly 20 years selling notes backed by receivables.
The latest deal from the sponsor's DRIVE platform for deep subprime loans benefits from recent improvements in underwriting; both S&P and Moody's have lowered loss expectations.
Automating the loan application process is a potentially game-changing development that could put more car shoppers in control of which bank or credit union finances their purchase.
The biggest question is whether new CFPB Director Kathy Kraninger will deviate from the pro-industry policies of her predecessor, or bring continuity.
As part of the agreement with HSN, Synchrony has also extended its partnerships with HSN affiliates QVC and the e-commerce site Zulily.
A U.S. District judge in Scranton denied the student lender's motion to dismiss the suit.
U.S. student loan debt outstanding reached a record $1.465 trillion last month and one particular set of borrowers is having a hard time paying back their loans.
Couldn’t load more articles. Try again.
