Prime auto ABS

Slated to close by September 29, the deal has total initial hard credit enhancement that amounts to 87.7% on the most senior class of notes.

Citizens Financial Group announced the deal just weeks after saying that it would stop making car dealer financings.

The initial $1.31 billion pool may be potentially upsized to $1.53 billion.

The $1.28 billion securitization includes a collateral pool with a higher WA FICO, lower LTV and shorter original terms that its previous loan ABS deal issued last October.

Deals, trends and research in structured finance and asset-backed securities for the week of April 2-8

The deal will be Ford's 14th securitization from its FordREV shelf, which has eight outstanding deals that remain in their revolving periods.

A continuing macroeconomic recovery fueled by the federal government's stimulus payments to consumers has benefited GMF as well.

The $1.18 billion deal is also the first to include Tesla’s mid-range Model Y vehicle (with an MSRP of $54, 119) that makes up 36% of the securitized value of the TALT 2021-A pool, according to a presale report from Moody’s Investors Service.

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit-union securitizations nearly four years ago.

Four months after debuting its prime-only shelf, the e-commerce used-vehicle retailer returns with a follow-up offering from borrowers with a pooled FICO average of 707.