Officials in three large U.S. states Illinois, New York and California are simultaneously taking initial steps aimed at taming the largely unregulated realm of online small-business lending.
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Caliber Home Loans is marketing a residential mortgage-backed securitization mainly backed by nonprime loans, called COLT 2016-1 Mortgage Loan Trust.
June 10 -
State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.
June 10
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Loan market participants are in an uproar over the announcement by the European Parliament this Monday that it is considering quadruple the amount of skin that originators of asset-backed securities must have in the game.
June 10 -
Spruce Finance, Inc., a newly formed financier of residential energy-efficiency and solar panel installations, is issuing its first securitization of home improvement loans originated through both its predecessor companies and Fannie Mae.
June 10 -
Underwriting league tables for asset-baked securities for the year through June 10, 2016.
June 9
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Marketplace lenders have unveiled a number of self-regulatory plans over the last year in an attempt to stave off government intervention. But a top official at the Federal Trade Commission said Thursday that what has been done so far is not sufficient to protect borrowers.
June 9
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Duke Energy Florida has launched a $1.3 billion offering of bonds backed by fees it will charge to recover costs associated with the retirement of its Crystal River Unit 3 nuclear power plant
June 9 -
Fearing that housing finance reform has fallen off the congressional priority list, bank and housing trade groups sent a letter to Federal Housing Finance Agency Director Mel Watt on Wednesday to draw attention to the issue.
June 9 -
Two new auto loan pools being issued this week by Foursight Capital and DriveTime Auto Group provide evidence of subprime auto lendings ongoing market momentum.
June 8 -
Growth in air travel is slowing, but investors are still snapping up bonds backed by leases on passenger jets.
June 8 -
LendingClub abruptly adjourned its annual shareholder meeting Tuesday, saying it wasn't ready to address investors after a leadership shakeup last month. It also overhauled criteria for the consumer loans it arranges online.
June 7
