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The coming Fitch-rated deal has higher FICO scores than competitors' pools, but the auto sector faces headwinds.
May 22 -
A continuing macroeconomic recovery fueled by the federal government's stimulus payments to consumers has benefited GMF as well.
March 31 -
The share of 72-84 month loans is 15.56% in GMF's 2021-1 transaction, up from 12.24% in its prior prime-auto issuance.
January 7 -
The automaker is reportedly planning to apply for a bank charter so it could collect deposits and grow its own auto-finance business. That could create more competition for Ally, which was spun off from GM in 2006 but remains a key lending partner.
December 9 -
Some corporations are willing to oblige, turning instead to new, pricier term loans or revolving credit lines rather than tapping existing ones, industry officials say.
March 30 -
GMF’s $1.269.9 billion asset-backed transaction will be secured by a pool of loans that has a slightly lower weighted average FICO, higher collective LTV and longer average terms compared to prior deals issued via GMF’s securitization platform.
January 7 -
The captive lender is already underwriting and managing leases for GM electric cars in China; it is also buying and managing fleets for GM’s Maven ride-sharing program launched in the U.S. in 2016.
February 25 -
The collateral for GMCAR Trust 2019-1 features a higher weighted average borrower FICO than any prior GM Financial deal; it also sports a lower projected cumulative net losses from Fitch Ratings.
January 3 -
As more new-vehicle buyers flock to General Motors' high-ticket trucks and SUVs, GM Financial has to supply riskier 60-plus month loans to finance them. That's prompting higher net ABS loss projections from Fitch.
July 5 -
The average FICO for the pool of lease obligors is at a peak level for GM Financial's shelf, but Fitch expects higher losses on resale values on a pool more heavily dependent on longer-term leases and luxury models.
June 14