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Also launching deals last week were Santander Consumer USA and DriveTime Automotive Group, according to ratings agency presale reports.
April 12 -
Carvana will use proceeds to pay down existing debt and to fund general corporate purposes.
March 15 -
Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 26-March 4
March 5 -
DBRS Morningstar and S&P Global Ratings each have lower projected net losses for the $1.1 billion Westlake Automobile Receivables Trust 2021-1 transaction, in comparison to the subprime auto lender’s prior $1.4 billion securitization that priced in October 2020.
March 3 -
Last month, prominent investor Steve Eisman pegged Credit Acceptance Corp. as his new big short, based on a belief the subprime auto lender and its industry may come under closer CFPB scrutiny under the new administration. Analysts are taking note, as well.
February 24 -
Early-stage delinquencies were up slightly in both prime and subprime auto ABS pools, according to the agency's report for January.
February 18 -
The proposed securitization launches the same week the Federal Reserve lifted a three-year-old enforcement action against the auto lender over its prior risk compliance oversight policies.
February 5 -
Deals, trends and research in structured finance and asset-backed securities for the week of Jan.15-21
January 22 -
Deals, trends and research in structured finance and asset-backed securities for the week of Jan.7-14
January 15 -
The subprime auto lender, which specialized in post-bankrutpcy loans, has a greater share of direct-channel loans (typically refis) compared to its lone 2020 asset-backed offering.
January 11