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Auto Finance News // Ballooning Losses at Honor Finance Spark KBRA Downgrade Warning - Press Mention - 06/08/2018
Asset-Backed Alert // Lawyers Eye Student-Loan Servicers - Press Mention - 03/16/2018
Bloomberg // Subprime Auto Bonds Caught in Vise of Rising Costs, Bad Loans - Press Mention - 03/14/2018
Auto Finance News // 5 Ways Mobility Will Change the Secondary Market - Press Mention - 02/28/2018
GlobalCapital // HELOCs Poised For Comeback in 2018 - Press Mention - 02/26/2018
Davis & Gilbert LLP Elects One New Partner and Two Counsel - Press Release - 01/04/2018
GlobalCapital // Fed Sounds Alarm on Marketplace Lending - Press Mention - 11/13/2017
Structured Credit Investor // Pre-Emptive Lawsuits Envisaged - Press Mention - 11/03/2017
Global Capital // Is Anyone Taking Consumer Credit Risk Seriously? - Press Mention - 10/31/2017
Structured Creditor Investor // Legal Issues Weigh on Earnest Acquisition - Press Mention - 10/30/2017
SubPrime // Davis & Gilbert Experts Find 4 Signs of Subprime Auto ABS Market Vulnerability - Press Mention - 10/20/2017
Bloomberg Law // Legal Challenges Tied to Subprime - Auto Bonds Are Possible: Wells Fargo - Press Mention - 10/17/2017
Global Capital // Subprime Auto ABS Credit Enhancements Spark Debate - Press Mention - 10/13/2017
Auto Finance News // Lawyer Claims ABS Structures Show Signs of Weakness, Despite Ratings - Press Mention - 10/12/2017
Business Wire // Closer Look at Credit Enhancements in Subprime Auto ABS Market Shows Signs of Vulnerability - Press Mention - 10/10/2017
ValueWalk // Financial Institution Lawsuits Against Equifax Tempt Consumer Backlash - Press Mention - 10/10/2017
Asset-Backed Alert // Trustees Build Cases Against Auto Lenders - Press Mention - 10/06/2017
S&P Global Market Intelligence // Wells Fargo's Latest Scandal Raises Specter of Board Removal - Press Mention - 08/07/2017
S&P Global Market Intelligence // Mortgage Settlements Surpass $158B, Lawsuits Could Persist for Years to Come - Press Mention - 08/07/2017
Auto Finance News // 6 Compliance Topics Lenders Need to Watch - Press Mention - 08/01/2017
Inside the Consumer Financial Protection Bureau // Compliance Pros Fret Arbitration Rule Will Fuel Litigation - Press Mention - 07/31/2017
Asset-Backed Alert // Lehman Estate Targets Mortgage Originators - Press Mention - 07/28/2017
Inside MBS & ABS // CFPB Arbitration Rule Could Fuel Litigation, Impair Securitization Market Liquidity - Press Mention - 07/21/2017
ValueWalk // The Dark Side of Automation: Impact on Subprime Auto Borrowers - Press Mention - 07/11/2017
Insolvency, Creditors’ Rights & Financial Products Alert >> Oh, the Indemnity! Claims for Reimbursement May Follow RMBS Litigation Settlements - Alert - 06/19/2017
The statute of limitations may have expired on new claims for repurchase or fraud based on alleged loan defects in pre-financial crisis subprime RMBS deals, but a settlement or litigation award paid out by a defendant may mark the beginning of a new six-year limitations period for the defendant to seek reimbursement or contribution from other deal parties. However, there are procedural, substantive, and practical challenges to maintaining these claims that may limit their effectiveness.
Irish Times // US Consumer Debt Deters Big Banks From $1.2tn Car-Loan Market - Press Mention - 05/29/2017
American Banker // Subprime Auto Lenders Put On Notice Over Ties to Shady Dealers - Press Mention - 04/21/2017
Law360.com: Madden Creates More Uncertainty For Marketplace Lenders - Published Article - 04/03/2017
Blueshift Research // Rising Delinquencies the New Normal for Subprime Auto Lending - Press Mention - 03/22/2017
American Banker // Does Latest Surge in Past-Due Car Loans Mean Problem is Here to Stay? - Press Mention - 03/07/2017
Insolvency, Creditors’ Rights & Financial Products Alert >> Claims Against Navient Echo Problems with Subprime Mortgage Loan Servicers - Alert - 02/23/2017
The allegations in the recent CFPB action against Navient are reminiscent of the abusive tactics that the CFPB alleged subprime mortgage servicers employed against struggling borrowers, which ultimately led to record-setting settlements. Unlike mortgage loan servicers that have had an opportunity or were required to adjust their policies and procedures in response to the subprime mortgage era litigation, student loan servicers are just now entering the crosshairs. If, under the Trump Administration, the federal government is viewed as soft on enforcing consumer protections, there is the potential for substantial private litigation. As student loan servicers have not been challenged to date, such litigation may seek to reveal vulnerabilities in their procedures that may be said to have contributed to the mounting student debt crisis. Based on the extensive battery of actions that ensnarled the mortgage industry for years, it appears the student loan servicing industry may be on the verge of following a similar course.
Insolvency, Creditors’ Rights & Financial Products Alert >> Recent Actions Against Navient May Expose Problems Contributing to the Student Loan Debt Crisis - Alert - 01/26/2017
It is uncertain how the Trump administration will deal with the student loan problem. On the one hand, his negative views of the current head of the CFPB and even regulation generally are well documented. But on the other hand, he has proposed more borrower-favorable income-based repayment plans that would allow for earlier extinguishment of debt versus current plans. Further, Trump’s inauguration speech struck a decidedly populist tone that would suggest support for the student loan borrower. Ultimately, even if the CFPB under Trump does not have an interest in pursuing the lawsuit, we may see state attorneys general pick up the charge in actively pursuing claims against student loan servicers.
Structured Creditor Investor // Heavy Burden: Student Loan Servicing Under the Spotlight - Press Mention - 01/25/2017
ValueWalk // Navient Lawsuit and Parallels Student Loans/Subprime Mortgage Crisis - Press Mention - 01/21/2017
ValueWalk // Trouble With Green Energy PACE Loans - Press Mention - 01/19/2017
Banking Exchange // Tick, Tick, Tick for DOJ. With Time Running Out, Feds Ramp Up Mortgage Litigation - Press Mention - 01/07/2017
Davis & Gilbert LLP Elects Five New Partners and One Counsel - Press Release - 01/04/2017
S&P Global Market Intelligence // With Time Running Out, U.S. Government Ramps up Mortgage Litigation - Press Mention - 12/29/2016
Lending Times // Is Auto Lending Headed Down the Same Path as Mortgage Lending? - Press Mention - 12/20/2016
Auto Finance News // New ABS Rule Unlikely to Escalate Disparate Impact Cases, Lawyer Says - Press Mention - 12/19/2016
Insolvency, Creditors’ Rights & Financial Products Alert >> Is Risk Retention in the Future of Marketplace Lending? - Alert - 12/14/2016
The goals of risk retention, including encouraging sound underwriting practices, would seem to have relevance in the marketplace lending context where a lender does not retain the risk of non-payment. However, if President-elect Trump can be taken at his word, the current risk retention rules will be repealed, along with Dodd-Frank, leaving the marketplace lending industry unaffected and reducing the likelihood of any separate risk retention rules for online lenders.
Auto Finance News // Credit Decline May Spur 'Big' Problems, Lawyer Says - Press Mention - 12/14/2016
Auto Finance News // Honor Finance Issues 'Risky' Deep Subprime Auto ABS, Lawyer Says - Press Mention - 12/12/2016
Insolvency, Creditors' Rights & Financial Products Alert >> Marketplace Lending Regulatory Landscape Begins to Take Shape with the OCC’s Plans for a National Charter - Alert - 12/07/2016
The OCC's plan for a fintech national charter alleviates some of the uncertainty felt by marketplace lenders in the wake of Madden v. Midland Funding, LLC. However, in determining whether to seek chartered status, marketplace lenders must weigh the benefits, including the ability to avoid state usury laws, against the regulatory burden that comes with chartered status.
ValueWalk // As Subprime Auto Loan Delinquencies Spike, Parallels And Differences With 2008 Housing Crisis Linger - Press Mention - 12/02/2016
International Financing Review // Strong Interest for Honor's High-Risk Subprime Auto Debut - IFR News - Press Mention - 12/02/2016
