GM Financial Increases Credit Quality in Latest Securitization

Credit quality in General Motors Financial Co. securitization pools has been steadily climbing, according to a presale report by Moody’s Investors Service. GM’s latest ABS issuance — GM Financial Consumer Automobile Receivables Trust 2017-3  — is a $1 billion transaction backed prime retail installment auto loans, according to the report. “The credit quality of the collateral […]
  • Huixin Deng
  • September 28, 2017

USAA Continues to Drop APR, Latest ABS Shows

USAA Federal Saving Bank released its first prime retail issuance of 2017 last week with weighted average APR of 4.0% — the lowest of any recent USAA transaction, according to a presale report by Moody’s Investors Service. The USAA Auto Owner Trust 2017-1 is a $486 million transaction backed by prime retail installment auto loan […]
  • Huixin Deng
  • September 13, 2017

Gateway One Reins In Securitization Program for ‘Predictable’ Profits, President Says

Gateway One Lending & Finance has scaled back its securitization program, as it looks to bolster loan quality and secure more predictable profits, President Todd Pierson told Auto Finance News. “[The secondary] market has changed considerably,” Pierson said. “It’s been somewhat unpredictable for Gateway and [parent company] TCF Bank from an earnings standpoint, and we’ve […]
  • William Hoffman
  • July 10, 2017

Expected Loss for HDFS $302MM ABS Low Despite High Credit Losses

The cumulative net loss expectation for Harley-Davidson Financial Services’ latest asset-backed securitization is low — 1.5% — regardless of a spike in HDFS credit losses, because the pool is “substantially stronger” than any previous transaction, according to analysts.
  • Natalie Mattila
  • June 23, 2016

Rising Subprime ABS Losses ‘Vary’ by Lender, Moody’s Says

Net loss rates are increasing in the subprime-backed ABS sector, according to report from Moody’s Investor Services released yesterday. However, “much of the overall performance deterioration is a result of an increased number of ABS transactions from smaller lenders that cater to “deep” subprime borrowers who have particularly weak credit.” Low losses on loan originations […]
  • Larissa Padden
  • April 7, 2016

Santander Comes to Market for a Second Time This Year

Santander Consumer USA has come to market for a second time this year, with a $1.06 billion dollar issuance, backed by “subprime quality” retail installment auto loan contracts, according to a presale report from Moody’s Investor Services. Loans in the trust have a weighted average Fico of 600, an average original term of 72 months, […]
  • Larissa Padden
  • February 9, 2016

Santander Adds to Deep Subprime Pipeline

Santander Consumer USA (SC) came to market with its first securitization transaction for the year, a $752.2 million offering backed by deep subprime auto loans, according to a Moody’s presale report released Thursday. The share of loans in the 73 to 75 month range in the transaction — dubbed Drive Auto Receivables (DRIVE) Trust 2016-A […]
  • Auto Finance News
  • January 19, 2016

Ripple Effect: VW Diesel Scandal May Hurt ABS, Analysts Say

Volkswagen Credit dealer floorplan securitizations will likely suffer higher-than-expected losses, in the wake of Volkswagen’s admission of cheating in diesel emissions tests in the U.S. and Germany, according to a recent research report from Moody’s Investor Services. Per an Environmental Protection Agency mandate, VW has stopped sales of new and used vehicles equipped with the affected diesel engines, […]
  • Larissa Padden
  • October 5, 2015

Ally Adds $1 Billion to Securitization Pipeline

Ally Bank has issued its first securitization transaction for the year, a $1 billion offering backed by prime auto loans, according to a presale report from Moody’s Investor Services. The loans in the Ally Auto Receivables Trust 2015-1 (AART 2015-1) have a weighted average Fico of 746, a weighted average seasoning of 13 months, and […]
  • Larissa Padden
  • July 14, 2015

Wall Street Takes Sanguine View of Auto Finance

Auto finance growth appears poised to slow, investors said today. The auto industry is on a high note today, but there’s not much left in the market — whether in the form of macroeconomic factors or auto industry tailwinds — to take the auto finance sector “to the next level,” analysts said at the American […]
  • JJ Hornblass
  • May 28, 2015
Page 1 of 212