Capital Markets | Auto Finance News - Part 5

Borrowers Granted Extensions Four Times More Likely to Repay Loans, KBRA Finds

Despite Honor Finance’s previous unorthodox loan extension practices, new research by Kroll Bond Rating Agency maintains that loan extensions remain a viable loss-mitigation tool for securitization servicers. "In moderation, extensions are a very useful tool — they maximize cash flow to the ABS trust," Brian Ford, senior director of structured finance research at KBRA, told Auto […]

Seasoned Loans Outperform Unseasoned Loans in Subprime Securitizations — Eventually

Fresh research from Kroll Bond Rating Agency shows that, contrary to popular belief, seasoning may not be the most accurate indicator of a subprime loan’s performance. Data from KBRA’s Subprime Auto Loan ABS report published Thursday illustrates that "very seasoned" subprime loans — those with 48 months of payment history — exhibited higher net losses […]

How Frightening Are Subprime Auto Loans?

One of the lasting legacies of the financial crisis is the market’s tendency to take any sign of bad news and frame it in the context of 2008. Collateralized loan obligations, for instance, have been deemed scary because of similarities to the collateralized debt obligations that were riddled with bad mortgages. Now, auto loans are under the microscope. […]

Big Wheels Auto Finance Query Posted Online

Financiers may now electronically submit 2018 results for inclusion in Big Wheels Auto Finance Data: A Ranking of the Nation’s Top Car Financiers. Big Wheels produces the definitive tabulation of automotive lending and leasing activity in the nation. It offers a unique opportunity to include your company’s performance among a ranking of the best of the best in […]

HyreCar Scouts Insurance Options Amid Profit Growth

HyreCar is leveraging its 2018 growth to either reprice or onboard a new insurance provider this year, Chief Executive Joe Furnari, told Auto Finance News. The startup's growth in earnings, operations, and geographic expansion allows more room for negotiations as its insurance renewal date approaches in early April. “We’re coming up on that renewal date,” […]

Fleet Sales to Hit Skids in 2019

While fleet sales grew 7% in 2018, volume will likely remain flat this year, a new Cox Automotive report shows.  "Will fleet sales increase again in 2019? We don’t believe so," Cox wrote in the report. Fleet sales totaled 2.7 million units last year. Commercial fleet volume, up 9% to 743,000 units, was a primary driver […]

Franchise Dealer Originations Inch Higher in Westlake’s Latest Securitization

The ratio of franchise dealer originations in Westlake Financial Services's securitizations is on an upward trajectory, according to a recent DBRS presale report.  In Westlake's most recent securitization, an $800 million transaction slated to close Feb. 20, franchise dealer originations account for 38% of the pool. By comparison, franchise originations hovered at 30% in the […]

Credit Unions Curb Financing for Independent Dealers

With credit unions slowing the pace of originations, about 30% of the independent dealers on CU Direct Lending’s platform pulled out last year, CUDL President and Chief Executive Tony Boutelle told Auto Finance News. "We’ve seen probably 1,000 independent dealers come off our program [in 2018] because our credit unions stopped doing financing for them," […]
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