Ally drops mandatory buybacks of modified loans in new $1B auto ABS issue
According to Moody's, Ally's latest auto-loan ABS will not require the issuer to repurchase loans with modified terms or maturities.
By
Glen Fest
Auto lending
Ally drops mandatory buybacks of modified loans in new $1B auto ABS issue
According to Moody's, Ally's latest auto-loan ABS will not require the issuer to repurchase loans with modified terms or maturities.
By
Glen Fest
Volvo Financial seeks another $607 million in ABS backed by equipment loans
The Volvo Financial Equipment LLC, Series 2019-2, brings to market ABS notes, backed by trucking and construction equipment loans, categories that analysts view as solid performers outside of severe macroeconomic pressures.
World Omni Auto Receivables Trust to issue $862M high-quality notes
The outlook for World Omni Auto Receivables Trust, 2019-C should hinge in part on the capabilities of World Omni in the role of originator, underwriter and servicer. So it is probably a boon to the deal that Fitch Ratings says it believes that the company is capable in all those roles.
Consistent credit profile buoys $2 billion Juniper Receivables 2019-2
Due to come to the market in November, Juniper Receivables 2019-2 DAC will issue about $2.1 billion in securities backed by retail auto loan contracts.
Subprime auto giant’s loans souring at fastest clip since 2008
A growing percentage of Santander Consumer USA Holdings Inc.’s subprime auto loans are turning out to be clunkers soon after the cars are driven off the lot.
GLS floats $300 million in first deal after Assured Guaranty acquisition
Subprime auto finance company Global Lending Services brought $300 million in notes to the asset-backed securities market GLS Auto Receivables Issuer Trust 2019-4.
DriveTime issues fourth deep subprime auto ABS of the year
The $450 million DT Auto Owner Trust 2019-4 has a pool balance of $519.7 million, an average balance of $17,125 per account and an 84.21% share of loans with terms over 60 months.
By
Glen Fest
The risk lurking in banks’ car loan portfolios
While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.
Auto lenders brace for hit from ride-sharing services
As apps like Uber and Lyft gain more traction, the need for new cars — and loans — is expected to diminish.
Has removing tax lien data from credit records led to more bad loans?
A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.
What do car dealers think about outside lenders?
A subsidiary of Citizens Financial Group placed first in a recent J.D. Power ranking of car dealer satisfaction with noncaptive auto lenders. However, that group — primarily banks and credit unions — lagged other types of auto lenders.
Is it time to worry about mounting credit card debt?
Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.
Loss expectations diminish for subprime auto lender Byrider
“Buy here, pay here” auto lender Byrider’s improvements in recent ABS collateral performance and operational servicing changes are gaining favor with ratings analysts.
By
Glen Fest
Santander Bank names longtime MUFG Union executive its CEO
The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.
Warren warns consumer, corporate debt could cause next crisis
The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.
Santander Consumer will pay $60M to remain a Fiat Chrysler partner
The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.
ABS platforms have varying risks to growing truck collateral exposure
A DBRS report states rising concentrations of light-duty truck collateral adds risks to vehicle securitization portfolios, but risk may differ among ABS types.
By
Eliana Perez
CFPB’s Kraninger digs in over halt to military lending exams
Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.
Surging auto loans help fuel rise in American household debt
The portion of Americans with a car loan climbed to 35% last year from just 20% in 1999, the New York Fed said in a blog post. Auto loans first overtook mortgages in 2013 and have pulled further ahead every year since.
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