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The vivid detail that companies turn up is a boon for investors trying to figure out how likely homeowners are to pay their obligations. → Read More
If you borrowed to buy your home, chances are TheNumber knows a good deal about you. → Read More
Deutsche Bank AG, the German lender seeking to overhaul how it manages risks, made a bet on U.S. inflation that puts the firm on course to lose as much as $60 million, people familiar with the matter said. → Read More
A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. → Read More
A federal jury in Hartford, Connecticut returned mixed verdicts in a fraud trial involving three former mortgage-bond traders who had worked for Nomura Holdings Inc. The case drew broad attention because of the unusual questions it raised: When is it all right to deceive a customer, and when is it not? How big does a lie have to be to be a fraud? Is it OK to lie if you assume your customer… → Read More
A former Nomura Holdings Inc. trader was found guilty of conspiring to lie to clients about mortgage-bond prices, while another was cleared of all charges in a verdict that highlights the challenge of policing fraud in the market. → Read More
Deutsche Bank AG is giving Marcus Schenck, co-head of the newly combined investment bank and trading business, responsibility for overseeing clients in a reorganization that will see the bank focus on corporate customers, according to a copy of a memo seen by Bloomberg. → Read More
Two of the biggest online consumer lenders don’t always check whether borrowers are lying to them, and if they find errors in an application, they may still approve the loan. → Read More
There may be trouble ahead for the debt fueling America’s car addiction. → Read More
Subprime auto bonds issued in 2015 are by one key measure on track to become the worst performing in the history of car-loan securitizations, according to Fitch Ratings. → Read More
Since the 2008 financial crisis, the Federal Reserve has kept rates low to encourage companies and consumers to borrow more and spur economic growth. As of the first quarter of this year, household borrowings have surged to a record $12.73 trillion, and the percentage of debt that is overdue has risen for two consecutive quarters. Much of the gains since 2012 have come from student loans, auto… → Read More
America’s Overdue Consumer Debt Rises To $13 Trillion → Read More
After bingeing on credit for a half decade, U.S. consumers may finally be feeling the hangover. → Read More
Deutsche Bank AG chief John Cryan urged regulators in Europe to reject the same kind of heavy-handed rules for banks’ mortgage holdings that have been adopted by their American counterparts. → Read More
Fewer subprime borrowers are paying off their auto loans early, a possible sign that consumers with weaker credit scores are struggling more, according to a report by Wells Fargo & Co. researchers. → Read More
Santander Consumer USA Holdings Inc., one of the biggest subprime auto finance companies, verified income on just 8 percent of borrowers whose loans it recently bundled into bonds, according to Moody’s Investors Service. → Read More
Consumer credit scores may end up being a lousy predictor of U.S. borrowers’ ability to repay their car loans, according to UBS strategists, citing flaws in the scores similar to those that emerged during last decade’s housing bubble. → Read More
A new product that would allow investors to short U.S. home loans may kickstart the growth of an infant mortgage-bond market if some money managers have their way. → Read More
U.S. prosecutors are investigating one of Wall Street’s darkest markets, focusing on hedge funds suspected of inflating the value of debt securities in their portfolios to juice the fees they collect. → Read More
Borrower fraud in U.S. auto loans is surging, and may approach levels seen in mortgages during last decade’s housing bubble, according to a startup firm that helps lenders sniff out bogus borrowers. → Read More