American Honda Finance Corp. | Auto Finance News | Page 7 | Auto Finance News - Part 7

CFPB, DOJ Investigating American Honda Finance

The Consumer Financial Protection Bureau and the Department of Justice have authorized enforcement actions against American Honda Finance Corp., alleging discrimination in automobile loan pricing, the captive revealed in a Securities and Exchange filing Tuesday. The move comes on the heels of a similar CFPB-DOJ action against Toyota Motor Credit Corp. last week. AHFC originally […]

Dealers’ Payments Remain ‘In Transit’

What’s the turnaround on loan applications today? The short answer: it depends. Dealers should expect a 48-hour turnaround for payments on contracts without errors, according to Open Dealer Exchange. But some lenders, such as Honda Financial Services, can keep dealers waiting as long as five to seven days, according to Automotive News. Mercedes-Benz Financial Services, […]

Honda Preps New ABS

American Honda Finance Corp. is coming to market again with another $1 billion securitization. The transaction, consisting of prime auto loan receivables, is Honda’s third offering of the year and is expected to close Aug. 20, according to a pre-sale report by Standard & Poor’s. RBS, Barclays, and Wells Fargo Securities are underwriters for the […]

Honda, Porsche Price ABS Deals

American Honda Finance Corp. issued $1 billion in securities in its second securitization of the year. The deal brings Honda’s year-to-date issuance to $2.5 billion, and props up industrywide ABS volume to $19 billion. Bank of America Merrill Lynch, Citigroup, and Morgan Stanley are underwriters for the deal. The transaction is backed by 57,000 contracts on Hondas (86%) and Acuras […]
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