Bank of Montreal | Auto Finance News | Auto Finance News

Bank of Montreal Issues First-Ever Auto ABS

After 200 years in business, Bank of Montreal will issue its first-ever retail auto securitization, valued at more than $654 million. The transaction — Canadian Pacer Auto Receivables Trust 2017-1 — is backed by prime retail installment auto loan contracts with an average weighted Fico score of 752 and a weighted average seasoning of 22 months, according […]

Bank of Montreal Auto Chief Advocates for Shorter Loan Terms

This March will mark one year since Bank of Montreal (BMO) raised rates on longer-term loans, and Head of Retail Lending Raymond O’Kane has no plans to temper his message in 2015, despite some lost business. “My plan going forward is to become more aggressive and more vocal, I’m not backing off at all,” O’Kane […]

Judge in Condor Case Says Outside Counsel Has Conflicts with Wells Fargo

The judge in the Condor Capital Corp. case brought by the N.Y. State Department of Finance raised concerns that the law firm representing the state agency, Friedman Kaplan Seiler & Adelman, has a conflict of interest because it represents Wells Fargo and Bank of Montreal. Both those banks are members of Condor’s lending syndicate. Subprime auto lender Condor […]