capital one | Auto Finance News | Auto Finance News

Chase Auto inks deal with Vroom

Chase Auto has expanded its relationship with online used-car retailer Vroom, in anticipation of an expected 2020 launch of Vroom Financial Services Powered by Chase, a new financing arrangement between the two companies, Mark Roszkowski, Vroom’s chief revenue officer, told Auto Finance News. “The goal is to eventually make the entire financing process completely digital,” Roszkowski […]

Auto issuance drives ABS growth

The auto finance sector is propping up the securitization market, with year-over-year growth climbing 18% through June, according to Kroll Bond Rating Agency’s Midyear 2019 ABS Outlook published last week. Auto securitization volume hit $68.5 billion through June, according to KBRA. “Despite plateauing new-vehicle sales, there has been tremendous year over year growth in auto-related […]

Federal Reserve amends stress test model for auto loan losses

The Federal Reserve has changed the way it calculates estimated auto loan losses in the 2019 Dodd-Frank Act stress test, according to the Supervisory Stress Test Results published last week. Specifically, the Federal Reserve enhanced the probability of default component and the loss-given default component. The report notes that these adjustments change the way certain […]

Avid Acceptance Scores $50M Credit Facility

Avid Acceptance LLC has finalized an asset-backed warehouse facility with Capital One — its second such facility in four months — adding $50 million of liquidity, Chief Financial Officer Curtis Ash told Auto Finance News. The new Capital One credit facility, combined with a JPMorgan Chase facility established in November 2018, furthers the Salt Lake […]

Capital One Auto Originations Decelerate Amid Increased Competition

Capital One Financial Corp.’s auto origination volume fell 5% last year, according to a fourth-quarter earnings report. In an earnings call, Chief Executive Richard Fairbank attributed the deceleration to an increase of competitive intensity in the auto industry. Auto originations fell to $26.2 billion in 2018, compared with $27.7 billion in 2017. Despite Capital One’s […]