Regional Banks Wrangle With ABS Capital Requirements, Lawyer Says

MIAMI — Although some smaller banks such as Fifth Third Bank and USAA Federal Savings Bank have issued auto ABS deals in recent weeks, it will become increasingly hard for these smaller regional banks to keep up with capital requirement regulations through 2019, said Stuart Litwin, Mayer Brown LLP’s co-head of securitization. Regulations require financial […]
  • William Hoffman
  • September 19, 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

USAA Emphasizes Education To Prevent Delinquencies

While a number of lenders are revamping their collections and repossession practices to adapt to a new regulatory environment, USAA Federal Savings Bank is focusing on a range of educational tools to keep members in their vehicles. “We’re very purposeful in guiding [consumers] and helping get them into the right type of loan, so we […]
  • William Hoffman
  • May 3, 2017

USAA’s Revamped Web Portal Offers Lifestyle-Based Vehicle Options

USAA Federal Savings Bank updated its online direct lending portal at the end of 2016 to allow members to search for cars based on their lifestyle choices and plans to make additional changes throughout the year, said Renee Horne, the company’s vice president of consumer lending. “Understanding that there is a variety of [consumer] lifestyles […]
  • William Hoffman
  • May 1, 2017

USAA Debuts Longer Loan Terms in Annual ABS Offering

USAA Federal Savings Bank has made its typically once-a-year contribution to the ABS pipeline, with a $500 million securitization offering, backed by prime auto loans, according to a presale report from Standard & Poor’s. The loans in the trust have a weighted average Fico of 739, a weighted average seasoning of 16 months, and an […]
  • Larissa Padden
  • July 22, 2015

USAA Aims to Double Car Buying Program in 2015

Military lender USAA hopes to double the volume of members taking advantage of its car-buying service in 2015, said Steve Harrison, executive director of USAA Auto Circle. The service connects members with the lender before they enter a dealership, allowing them to research pricing, arrange financing, and purchase vehicles online or from a mobile device. […]
  • Larissa Padden
  • January 14, 2015

USAA App Update Enables Loan Management

The United Services Automobile Association, the financial services company serving members of the U.S. armed forces, released an update to it app Tuesday that allows customers to, among other things, refinance their auto loans from their mobile devices. Available for Androids, Windows phones, iPhones, and iPads, USAA’s new app will enable users to not only […]
  • Larissa Padden
  • July 16, 2014