Monthly Archives January 2016

Provident weighs up move into insurance

#x201c;The lowest hanging fruit will be things we already offer such as instalment loans or car finance. Potentially we could source other products from third parties to offer as well.#x201d; The consumer finance company has built the Vanquis business rapidly since its launch in 2003, and the division is now Provident#x2019;s most profitable. Its doorstep […]

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This movie is too big to fail

Nominated for four Golden Globes and already the winner of Best Screenplay from the Kansas City Film Critics Circle Awards, “The Big Short” is well on its way to the Oscars short list. “The Big Short” is basically the betting against subprime loans that were all about to fail in 2007 in the US mortgage […]

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UK Economy to Slow Down Despite Increase in Bank Lending

During the second and third quarter of FY15, the UK economy grew slower than expected. This fact strengthens the stance of Bank of England to keep the interest rates low, despite the rate hike from US Federal Reserve. The low growth is expected to continue in the starting quarters of FY16. Business Finance News analyzes […]

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Moody’s downgrades Ditech’s SQ assessments and ends review

US Residential Mortgage Servicer Assessment Actions New York, December 21, 2015 — Moodys Investors Service (Moodys) has downgraded Ditech Financial LLCs (Ditech), formerly known as Green Tree Servicing LLC, servicer quality (SQ) assessments as a primary servicer of subprime residential mortgage loans to SQ3+ from SQ2-, as a primary servicer of second lien residential mortgage […]

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GM puts the pedal to the metal at Fort Worth finance unit

General Motors is expanding again in Arlington, but not at the plant that builds sport utility vehicles. Instead, hundreds of jobs are being added at GM Financial, the automaker’s Fort Worth-based finance unit, which has taken on a bigger role for the Detroit automaker. In five years, GM has transformed the former AmeriCredit, a subprime […]

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