Credit Performance | Auto Finance News

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 […]

Exeter Finance Files for IPO, Expects to Raise $100M

Subprime lender Exeter Finance Corp. filed for an initial public offering to gain a larger marketshare in the “fragmented” auto finance industry, the company said in a Jan. 8 regulatory filing with the U.S. Securities and Exchange Commission. Blackstone-backed Exeter expects to raise $100 million in the IPO, the filing notes, though the timing of […]

GM Financial Issues $1.25B Securitization to Jumpstart 2019

GM Financial has kicked off 2019 auto asset-backed securitization activity with a $1.25 billion deal issued last week, according to presale reports. Although analysts anticipate macroeconomic headwinds, such as interest rate stresses, to hit the industry this year, Fitch Ratings Agency said in its presale report that losses in GM Financial’s 2016 and 2017 managed […]

Fitch Forecasts Subprime Auto ABS to Weaken in 2019

While prime auto lease and loan asset-backed securitizations are projected to remain stable, Fitch Ratings Agency expects the outlook for subprime auto ABS to weaken. In a 2019 consumer lending outlook, Fitch’s Senior Director of ABS Ian Rasmussen said subprime auto asset-backed securities are more vulnerable due to weaker borrower profiles and industry headwinds inflated […]

2019 Survival Guide: How Lenders Are Planning for the Year Ahead

From the January issue: 2018 was a strong year for auto finance as delinquency rates dropped, the economy grew, and consumer demand remained high. However, the new year finds lenders and analysts bracing for an economic slowdown. But that’s not the only worry. New-car purchases are lagging, according to Manheim’s November data, which has new-vehicle sales […]

Auto Finance News’ Top 5 Stories of 2018

It was an interesting year. Early in 2018, Fiat Chrysler Automobiles said it would form a captive unit. The end of the year saw the arrest of Renault-Nissan-Mitsubishi alliance head Carlos Ghosn. And there was plenty of news in between. What follows are AFN editors’ picks for top five stories of 2018: Fiat Chrysler Automobiles […]

Experian Integrates Alternative Credit Criteria, Increasing Lending Pool

Experian’s plan to integrate telecom and utility bill payments into credit profiles should help lenders originate loans to a broader pool of consumers, according to Greg Wright, Experian’s consumer bureau chief product officer. “Lenders can actually see [consumers’] true creditworthiness and what their real financial behavior is,” Wright told AFN. Early testing and analysis showed […]
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