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Arivo Acceptance secures warehouse facility with JPMorgan Chase

Subprime lender Arivo Acceptance has secured an expandable $200 million warehouse line of credit with JPMorgan Chase, Steve Pachella, chief financial officer, told Auto Finance News. The warehouse facility comes on the heels of an inaugural $166 million securitization — the Sandy, Utah-based lender's entire book of business — last month. “Obviously JPMorgan is one […]

OneMain Financial’s stock outperforms Ally, Santander in 3Q

Investors eyeing auto finance stocks are turning to OneMain Finacial (OMF), which had the highest share performance during the third quarter, outpacing Ally Financial and Santander Consumer USA (SCUSA), according to a research report released this week by JPMorgan.   OneMain Financial’s third quarter share performance reached 15.2%, compared with Ally Financial at 7.6%, and Santander […]

TFS to add second revolving securitization

MIAMI — Toyota Financial Services is gearing up to issue a second revolving retail asset-backed securitization, Director of Secured Funding Adam Stam told Auto Finance News. The revolving program, which debuted this year, should reach $2.5 billion in outstanding prime auto loans by 2020, he added. TFS issued the first transaction in its inaugural Toyota […]

Westlake Financial’s ABS volume to top $3b by yearend 

MIAMI — Westlake Financial Services is on track to issue $3.4 billion in asset-backed securitizations by the end of the fourth quarter, a 13.3% increase year over year, company Treasury Director Franka Bicolli told Auto Finance News.  “Usually we issue the third securitization in August,” Bicolli said. “This year we have increases with different warehouse […]

Fair eyes new debt funding

Fair is in discussion with a "major global financial institution" for as much as $500 million of debt funding, Co-Founder Georg Bauer told Auto Finance News. To date, the 3-year-old vehicle subscription company has raised $1.5 billion in funding over nine rounds. "Once this [funding] is closed, we are picking up our work with the […]
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