Issuance of subprime auto-loan securitizations so far in 2013 is running slightly ahead of last year’s pace at this time, according to a note by Standard & Poor’s.
The YTD number is $13 billion. The agency is sticking to its full-year forecast of $20 billion, a tad above the $19 billion issued last year.
S&P said that GM Financial and Santander have accounted for the lion’s share of activity in this sector, originating over 70% of deals so far this year.
Exeter Finance Corp recently dropped a