Post Tagged with: "Moody’s Investors Service"

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USAA Continues to Drop APR, Latest ABS Shows

September 13, 2017 at 10:45 am 0 comments

USAA Federal Saving Bank released its first prime retail issuance of 2017 last week with weighted average APR of 4.0% — the lowest of any recent USAA transaction, according to a presale report by Moody’s Investors Service. The USAA Auto Owner Trust 2017-1 is a $486 million transaction backed byRead More

Gateway One Reins In Securitization Program for ‘Predictable’ Profits, President Says

Gateway One Reins In Securitization Program for ‘Predictable’ Profits, President Says

July 10, 2017 at 11:00 am 0 comments

Gateway One Lending & Finance has scaled back its securitization program, as it looks to bolster loan quality and secure more predictable profits, President Todd Pierson told Auto Finance News. “[The secondary] market has changed considerably,” Pierson said. “It’s been somewhat unpredictable for Gateway and [parent company] TCF Bank fromRead More

Expected Loss for HDFS $302MM ABS Low Despite High Credit Losses

Expected Loss for HDFS $302MM ABS Low Despite High Credit Losses

June 23, 2016 at 1:46 pm 0 comments

The cumulative net loss expectation for Harley-Davidson Financial Services’ latest asset-backed securitization is low — 1.5% — regardless of a spike in HDFS credit losses, because the pool is “substantially stronger” than any previous transaction, according to analysts.

Rising Subprime ABS Losses ‘Vary’ by Lender, Moody’s Says

Rising Subprime ABS Losses ‘Vary’ by Lender, Moody’s Says

April 7, 2016 at 12:04 pm 1 comment

Net loss rates are increasing in the subprime-backed ABS sector, according to report from Moody’s Investor Services released yesterday. However, “much of the overall performance deterioration is a result of an increased number of ABS transactions from smaller lenders that cater to “deep” subprime borrowers who have particularly weak credit.”Read More

Santander Comes to Market for a Second Time This Year

Santander Comes to Market for a Second Time This Year

February 9, 2016 at 12:55 pm 1 comment

Santander Consumer USA has come to market for a second time this year, with a $1.06 billion dollar issuance, backed by “subprime quality” retail installment auto loan contracts, according to a presale report from Moody’s Investor Services. Loans in the trust have a weighted average Fico of 600, an averageRead More

Santander Adds to Deep Subprime Pipeline

Santander Adds to Deep Subprime Pipeline

January 19, 2016 at 12:11 pm 2 comments

Santander Consumer USA (SC) came to market with its first securitization transaction for the year, a $752.2 million offering backed by deep subprime auto loans, according to a Moody’s presale report released Thursday. The share of loans in the 73 to 75 month range in the transaction — dubbed DriveRead More

Ripple Effect: VW Diesel Scandal May Hurt ABS, Analysts Say

Ripple Effect: VW Diesel Scandal May Hurt ABS, Analysts Say

October 5, 2015 at 11:45 am 0 comments

Volkswagen Credit dealer floorplan securitizations will likely suffer higher-than-expected losses, in the wake of Volkswagen’s admission of cheating in diesel emissions tests in the U.S. and Germany, according to a recent research report from Moody’s Investor Services. Per an Environmental Protection Agency mandate, VW has stopped sales of new and used vehicles equippedRead More

Ally Adds $1 Billion to Securitization Pipeline

Ally Adds $1 Billion to Securitization Pipeline

July 14, 2015 at 12:30 pm 0 comments

Ally Bank has issued its first securitization transaction for the year, a $1 billion offering backed by prime auto loans, according to a presale report from Moody’s Investor Services. The loans in the Ally Auto Receivables Trust 2015-1 (AART 2015-1) have a weighted average Fico of 746, a weighted averageRead More

Wall Street Takes Sanguine View of Auto Finance

Wall Street Takes Sanguine View of Auto Finance

May 28, 2015 at 10:00 am 0 comments

Auto finance growth appears poised to slow, investors said today. The auto industry is on a high note today, but there’s not much left in the market — whether in the form of macroeconomic factors or auto industry tailwinds — to take the auto finance sector “to the next level,”Read More

Home Equity Loans to Finance Autos: Still Only a Memory

Home Equity Loans to Finance Autos: Still Only a Memory

May 14, 2015 at 11:28 am 0 comments

Don’t expect consumers to go back to using a home equity line of credit to finance their auto purchase anytime soon, with the possible exception of some high-end luxury buyers. Before the last recession, so-called HELOCs were quite common, dealers said. When the housing bubble burst, HELOCs dropped out ofRead More

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