The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts.
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More consumers were late in paying two major types of loans in the latest figures from the American Bankers Association, but it appears to be a relatively isolated problem.
April 11
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Caliber Home Loans settled a grievance with the Massachusetts attorney general over allegations of providing distressed borrowers with unaffordable loan modifications.
April 11
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Losses on Conn’s consumer loans are stabilizing, and the electronics and appliance store chain sees an opportunity to reduce the level of credit enhancement for its latest securitization.
April 11
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The $746.2 million PFP 2019-1's biggest exposure by property type is to multifamily, but the single largest asset is a $71 million portion of a mortgage on a Dallas office building.
April 10
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The online lender's recent completion of a $700 million securitization provided Jonathan Ebinger at BlueRun Ventures an opportunity to reflect on what he has learned about the power of alternative data.
April 10
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Assured Guaranty indicated it is interested in reaching a deal on PREPA bonds rather than continuing its quest for a PREPA receiver.
April 10
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The $479 million Progress Residential 2019-SFR2 Trust is backed by 2,459 single-family residences, 2,452 of which were previously securitized in Progress 2016-SFR2.
April 9
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Non-qualified mortgage-backed securities record issuance in the first quarter puts it on pace to top full-year volume predictions, according to Keefe, Bruyette & Woods.
April 9
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The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.
April 8
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The San Francisco fintech, which uses artificial intelligence to make consumer credit decisions, has raised an additional $50 million. It also announced new partnerships with lenders and plans for a credit card.
April 8
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The moves are part of an ongoing effort by the Seattle bank to largely exit mortgage lending.
April 8
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The senior notes to be issued in the $867 million transaction also amortize more quickly, reducing investor exposure to a potential decline in the valuation of the assets.
April 8
