For the first time, the marketplace lender d/b/a Best Egg is securitizing loans from High Yield Prime borrowers who don't qualify for its prime loan products.

The $505 million Octagon Investment Partners 20-R will close before the assignment of any underlying loans, according to Moody's.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

SLM Corp. wants to "target the people our competitors are targeting and bring on their federal balances" CFO Steven McGarry said during an earnings call.

Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.

A quarterly IACPM survey shows far fewer credit managers planning for widening spreads this spring, staving off concerns for now of deteriorating credit conditions and macroeconomic troubles.

Nearly 67% of the loans in the $309 million loans and repossessed properties backing FASST 2019-HB1 were obtained from a 2017 deal that was recently collapsed.

The manager's Sound Point Euro CLO 1 Funding DAC is the only deal so far in 2019 to be issued for a first-time issuer in the EU region.

In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.

The initial portfolio for the $601.7 million deal features high exposure to lower-rated single-B loans, though that will likely drop when it is fully ramped.

The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.

Investors include New Orleans sports franchise owner Gayle Benson, placing the hotel under local ownership for the first time since it was built in 1976.