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GM Financials first auto lease securitization of 2016 is a $1 billion transaction that tilts toward higher average customer credit scores and more shorter-term contracts compared to previous GM lease ABS issues.
February 16 -
The notes are backed by Hondas typically strong collateral in prime loans with high-quality credit borrowers (average FICO of 761) and lengthy seasoning (13.61 months), and supported by a hard credit enhancement of 2.75%. But the new securitization continues a recent trend in Honda ABS issuance that includes more long-term loans in excess of 60 months.
February 12 -
Flagship Credit Acceptance and Tidewater Finance Co. are marketing a combined $602 million of securities backed by subprime auto loans, according to rating agency reports.
February 11 -
Nonbank lender Oportun is making its fifth trip to the securitization market with a $124.8 million offering that is backed by fewer loans, but higher balances, than previous deals. Kroll has rated the deal.
February 11 -
Santander Consumer USA is offering its second auto loan-backed ABS of the year in a $1.059 billion securitization of its higher-quality new and used subprime loan receivables.
February 8 -
Online lender Avant is marketing its first rated securitization of loans to consumers with less-than-stellar credit.
February 8 -
BMW Financial Services has joined in the cavalcade of captive auto finance companies in the securitization market early this year a $1 billion offering of notes backed by U.S. auto leases.
February 4 -
The Consumer Financial Protection Bureau should have direct oversight of auto dealers instead of being forced to go through indirect auto dealers to make changes to the market, Sen. Elizabeth Warren, D-Mass., suggested Wednesday.
February 3
- Europe
Volkswagen Finance has completed what it is billing as the largest Spanish auto loan securitization since the financial crisis
February 3 -
Toyota Motor Credit Corp. has agreed to change its pricing and compensation practices and pay nearly $22 million to settle allegations it charged African-Americans and other minorities more than white borrowers for auto loans, federal regulators said Tuesday.
February 2
