Credit Performance | Auto Finance News

Ally’s Doug Timmerman named Auto Finance Executive of the Year

Auto Finance News is pleased to announce Doug Timmerman, Ally Financial’s president of auto, as the inaugural Auto Finance Executive of the Year. Timmerman first joined Ally — then General Motors Acceptance Co. — back in 1986 and is now at the helm of an $80 billion auto portfolio. Under Timmerman’s leadership, Ally broke a […]

Testing the resiliency of auto ABS

The auto asset-backed securities market continues to attract investors — even from overseas. While market headwinds brought on by lengthening loan terms, trade disagreements and a potential economic downturn test the market’s resilience, closer examination of the auto ABS structure proves the strength of these bonds in the face of adversity. In fact, investor appetite […]

Tightening credit standards to slow auto growth

Tightening lending standards from auto finance companies, interest rates and rising vehicle prices are poised to reduce total outstandings about 5% through 2020 and 2021, according to Moody’s Analytics U.S. Consumer Credit Outlook. In fact, finance companies have stiffened underwriting guidelines due to deterioration in credit performance, which has allowed banks and credit unions to […]

Serious delinquencies improve for young borrowers

Serious delinquencies — auto loans 90 days or more past due — for borrowers aged 18 to 29 years dropped 38 basis points to 3.8% year over year, marking this age group’s lowest delinquency level since 2Q15, according to the New York Federal Reserve’s third-quarter Report on Household Debt and Credit. Though this age group’s […]

You’re welcome: The Fed gifts a strong auto finance sector

Apparently, Halloween is the new Christmas in auto finance. Yesterday, the Federal Reserve gifted the industry a 25-basis-point interest rate cut, the third time the Fed has cut rates this year. The central bank’s benchmark rate now stands at 1.5% to 1.75%. A present like that doesn’t even need gift wrapping. “We believe monetary policy […]

State of the subprime auto lending market

Working in the subprime auto lending market, the tendency is to focus on the threats and opportunities that are directly in front of us. We zone in on our specific subprime auto portfolios and do our best to obtain the highest risk-adjusted returns. Ultimately, it is easy to get stuck in the weeds rather than […]
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