Rifco Expands Warehouse Facility Despite Slowing Originations

Rifco National Auto Finance renewed and expanded a securitization warehouse facility with Schedule 1 Charter Bank last week. Though Rifco’s utilization limit was bumped up to $40 million from $30 million, the Canadian lender plans to keep originations in the $120-million range, as stated in its 2019 objectives. “Rifco pursues growth within constraints of profitability […]

Looming Tariff Threat to Lessen New-Vehicle Sales, ABS Volume

MIAMI — Auto ABS is experiencing strong performance this year, but President Donald Trump’s trade war and tariff threat on imported auto parts are expected to prompt a downturn in securitization volume, Jamie Feehely, managing director of securitization at National Bank, said during ABS East last month. “There are no securitizations done that are 100% […]

U.S.-Canada Trade Agreement to Bring Some Relief to Auto Industry

The automotive industry is breathing a sigh of partial relief today as details about a potential trade agreement with Canada trickle out that would exempt U.S. neighbors to the north and south from steep import tariffs. A new U.S.-Mexico-Canada trade agreement exempts the neighboring countries should President Donald Trump impose a 25% tariffs on auto […]
  • William Hoffman
  • October 1, 2018
  • Asia, Risk