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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 […]

GM Financial, Hyundai ramp up lease ABS with $1.9B of issuance

General Motors Financial and Hyundai Capital America are driving auto lease ABS volume, bringing a combined $1.9 billion of receivables to market, according to presale reports from S&P Global Ratings.  GMF’s $1 billion deal marks the captive’s third lease securitization this year, boosting its total volume to $3.4 billion in 2019. The collateral pool consists […]

CPS grows originations despite ‘exceedingly competitive’ market, CEO says

Consumer Portfolio Services' originations increased 16.5% in the second quarter, to $250.1 million, despite the fact that the industry is "exceedingly competitive" and "people are growing like crazy," Chief Executive Charles Bradley said during an earnings call yesterday. "That puts pressure on us to eke out our meager growth and our performance amongst these people that […]

Westlake eyes third ABS following $1.2B issuance

On the heels of closing a $1.2 billion asset-backed securitization — its largest-ever — Westlake Financial Services is already planning for another “large” ABS before yearend, Chief Financial Officer Paul Kerwin said in a statement on Thursday. The Los Angeles-based company’s securitization, backed by subprime auto receivables, also marked Westlake’s fifth straight issuance topping $1 […]

China’s auto ABS market tops $4.5B on heels of Geely deal

China’s asset-backed securities market is a growing funding source for auto lenders, as issuance has topped $4.5 billion (RMB31.2 billion) this year, according to data from S&P Global Ratings’ China Securitization Performance Watch report.  “We expect improving debt serviceability, enhanced underwriting and risk control, and securitization’s structural protection to continue to support the robust performance […]

Auto ABS heats up with $4.7B of issuance

A handful of prime and subprime securitizers pumped up ABS volume this week, bringing $4.7 billion of loans and leases to market, according to presale reports from S&P Global Ratings.  Auto ABS volume totaled $61.3 billion as of July 8, up 12.7% year over year, according to data from JPMorgan Securities. On the prime side, […]

Ally Hits ABS Market With Second $1B Transaction

Ally Financial is bringing $1.12 billion in asset-backed securities to market in a deal that’s expected to close June 11, according to a presale report by S&P Global Ratings issued this week. The deal is Ally’s second this year, propping up the lender's ABS volume to $2.24 billion since January. Ally’s latest transaction consists of […]
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