Edwin Groshans

Stop me if you’ve heard this one before. Subprime auto lending has soared since the U.S. mortgage bubble burst back in 2008, and, predictably, default rates have started to follow suit. This week, 90-day auto loan delinquency rates eclipsed 3.8 percent, their highest levels since the...

The U.S. Treasury has issued its first of four reports on the state of financial regulations in the U.S. Tuesday, and the report sheds some light on just how favorably the Trump administration intends to treat the banking sector. The Treasury made a number of recommendations of ways to modify...

The first stage of an important new rule for anyone who uses a financial advisor will officially roll out on Friday. The Department of Labor is moving forward with the first stage of the new fiduciary rule, a federal regulation requiring financial advisors to act in the best interest of their...

It turns out, there are things happening in Washington other than investigations into Russia, healthcare reform and President Donald Trump’s tweets. An under-the-radar Postal Service reform bill would save the country $6.2 billion over the next decade, according to the Congressional Budget...

The auto industry has been suffering from a pricing decline so far in 2017, but slumping prices are not the only issue weighing down the industry in 2017. Credit deterioration and regulatory investigations into the use of GPS systems and kill switches are also issues that could impact auto lending...

As signs continue to point to a deteriorating U.S. auto industry, a report from Moody’s Investor Service revealed one of the nation’s largest subprime auto lenders isn’t even bothering to check its borrowers’ income. Santander Consumer USA Holdings Inc (NYSE: SC), one of the...

Bank investors hoping financial deregulation will open the door for a new golden era of banking in the near future will likely have to be patient and keep expectations in check. Material changes to banking regulations will not be implemented for at least 12 more months, Height Securities analyst...

The latest data on U.S. car prices shows the auto market continues to deteriorate in 2017. Weekly data from Black Book revealed a 20 percent year-over-year decline in used car prices and a 17-percent decline in used truck prices. Year to date, used car and truck prices are both down 17 percent....

Federal Housing Finance Agency director Mel Watt testified in front of the Senate Banking Committee last week and said his top priority regarding Federal National Mortgage Association (OTC: FNMA) and Federal Home Loan Mortgage Corp (OTC: FMCC) is to ensure that they're capitalized enough so...

On Thursday, director of the Federal Housing Finance Agency Mel Watt reportedly testified in front of the Senate Banking Committee calling for Federal National Mortgage Association (OTC: FNMA) and Federal Home Loan Mortgage Association (OTC: FMCC) to begin retaining their earnings rather than...

Hertz Global Holdings, Inc (NYSE: HTZ) is the latest company to comment on the deterioration of the auto market in 2017. According to Hertz, the company’s vehicle depreciation increased by 15 percent in the first quarter of the year. In the company’s earnings presentation, Hertz...

Federal National Mortgage Association (OTC: FNMA) reported net income of $2.77 billion in Q1, falling a bit short of Wall Street expectations. However, the government sponsored entity and its cousin Federal Home Loan Mortgage Corp (OTC: FMCC) delivered yet another quarter of profits, fueling...

Federal National Mortgage Association (OTC: FNMA) and Federal Home Loan Mortgage Corp (OTC: FMCC) investors suffered yet another disappointment Monday when Treasury Secretary Steven Mnuchin clearly stated he never said Fannie and Freddie would be privatized, news that sent shared of the government-...

Evidence continues to mount that the subprime auto lending market has a bumpy road ahead. New data suggests U.S. dealers are struggling to sell automobiles so far in 2017, and subprime lenders are taking notice. CNBC’s Phil LeBeau reports that auto dealers are offering record-high incentives...

Ocwen Financial Corp (NYSE: OCN) shares are down 54.3 percent in the past week after more than 20 states issued cease-and-desist orders against the company related to alleged mismanagement of escrow accounts and the company’s poor financial state; the Consumer Financial Protection Bureau also...