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BofA's first auto loan securitization since 2012 will be backed by a pool of new and used automobile and light truck loans originated by the bank.
July 21
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Executives at both companies warned that softening car prices will likely fall further as inventory grows, a welcome sign for inflation-weary buyers but worrisome for dealers facing new pressure on profit margins.
July 21
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Prime quality U.S. vehicle leases back an issue comprising 91% class A notes.
July 17
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The deal has a slightly higher weighted-average FICO and slightly lower exposure to longer-term loans than its predecessor but a slightly worse FICO tier distribution.
July 17
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The dollar-denominated auto loan notes are protected by currency swaps.
July 11
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The underlying portfolio of car, utility vehicle and light-duty truck loans has a weighted average FICO score of 782.
July 11
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The concentration of FICO scores over 750 in the collateral pool is the highest for Hyundai auto ABS transactions since 2017.
July 10
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The underlying collateral pool is smaller than in the automaker's comparable ABS transaction in 2022, but with larger principal balances and higher APRs.
July 10
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Both credit card and student loan issuers made up for tepid starts to 2023 by leaping over their first-quarter production numbers, but it wasn't enough to overcome an overall slide.
July 10
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DriveTime's latest has initial hard credit enhancement that ranges from 55.70% for the class A notes to 15.40% for the class E notes, and the company just bumped up its warehouse commitment.
July 7
