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All of the underlying leases are financing new cars, Fitch noted, adding that leases under 36 months for the original term represented about 82.3% of the pool.
September 16 -
World Omni Financial Corp. is returning to the auto-loan ABS market with a jumbo transaction backed by collateral of higher credit quality than other similar deals.
September 7 -
From the interest rates on the underlying vehicle leases to the benchmark and hedges on the notes issued from the trust, the deal has no Libor exposure.
September 3 -
In a first for the EART program, the collateral will include loans originated through a third-party direct lender.
August 16 -
Credit enhancement ranges from 24.7% on the most senior class of notes to 1.5% on the most subordinate class.
August 13 -
Despite the auto sector's resilience in recent economic quarters amid the pandemic, observers remain watchful of employment trends and waning government help.
August 6 -
For the current transaction, excess spread is at about 5.65% annually, which is in line with the 5.8% in the 2021-NR series of notes.
August 5 -
Used autos are in high demand, because the COVID-19 pandemic caused production delays that constrained the supply of new vehicles to the market.
August 4 -
World Omni Auto Receivables Trust continues to focus solely on Toyota models, and has the potential to issue up to $1.1 billion in notes.
July 30 -
DriveTime extends financing to borrowers who have subprime credit profiles, generally with limited credit histories, modest incomes or prior credit difficulties.
July 29