Post Tagged with: "DBRS"

DBRS Highlights New Asset-Level Data in Auto ABS Transactions

DBRS Highlights New Asset-Level Data in Auto ABS Transactions

October 18, 2017 at 12:30 pm 0 comments

Independent rating agency DBRS detailed an in-depth look at new asset-level data provided within its database of publicly issued auto ABS transactions — and the risks associated with these pools — in a report released this month. Starting in November 2016, lenders issuing public auto ABS transactions were required toRead More

Exeter Plans Switch to Public ABS Issuances

Exeter Plans Switch to Public ABS Issuances

October 11, 2017 at 10:30 am 0 comments

Exeter Finance Corp. has not yet made the switch to public asset-backed securities, despite the fact that the lender now has a Securities and Exchange Commission-approved shelf. Exeter issued its third ABS transaction of the year late last month, which is still designated a rule 144A transaction, according to aRead More

Ford Credit Canada Preps Floorplan Securitization

Ford Credit Canada Preps Floorplan Securitization

July 17, 2017 at 12:27 pm 1 comment

Ford Credit Canada has issued its first floorplan securitization since 2013, and ratings agency DBRS expects the new issuance will perform similarly well despite a slowing auto market. The $460 million securitization is backed by floorplan receivables on an inventory of Canadian vehicles at Ford dealerships. DBRS notes the issuance’s strengthRead More

Westlake Financial Services greets guests at its 2017 NADA booth.

Westlake Issues Its Largest Auto Securitization at $750M

March 22, 2017 at 12:27 pm 1 comment

Westlake Financial Services issued its largest securitization to date, backed by $750 million in mostly nonprime auto loans, according to the company and the presale note from DBRS ratings. Loans in the pool have an average size of $11,071, average terms of 48 months, and average Fico of 599, according to theRead More

More Auto Finance Growth Forecasted by DBRS

More Auto Finance Growth Forecasted by DBRS

June 1, 2015 at 2:18 pm 1 comment

In the wake of record auto lending and leasing last quarter, a new forecast published today has even more healthy growth in store for the auto finance sector. DBRS released a review of the asset-backed securitization market today, and in it the credit rating agency touted auto finance’s bright future: Growth inRead More

After Executive Exits, Exeter Restructures Its Operations

After Executive Exits, Exeter Restructures Its Operations

April 6, 2015 at 4:44 pm 0 comments

Exeter Finance Corp.’s January rollout of a new origination platform has reshaped the subprime lender by enabling it to offer quicker loan decisions. The shift marked an overhaul of Exeter’s corporate structure to a centralized model — from the branch network upon which the company was founded back in 2006.Read More

Exeter Builds Servicing Facility With Room To Grow

Exeter Builds Servicing Facility With Room To Grow

August 29, 2014 at 10:30 am 1 comment

Exeter Finance Corp. opened a new servicing center June 23, at a time of origination — and delinquency — growth for the Irving, Texas-based nonprime lender. The two-level, 50,000-square-foot facility, with capacity for nearly 500 employees, houses 90 people so far. With an open floorplan and picture windows, the servicingRead More

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