First Investors Financial Services Group last year pruned its dealer base and tightened customer borrowing standards, but the longtime subprime auto finance company has not stopped tapping the securitization market for financing. It’s latest deal is for $198 million.

First Investors Auto Owner Trust 2016-1 is the 26-year old Houston finance company’s 19th securitization and its 12thsince the rebound in subprime new-and-used auto lending in 2011. The latest trust will issue six tranches of notes rated by Kroll Bond Rating Agency. 

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