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The latest investor statements show the persistence of a trend in which one vintage has a higher rate of distress than others, Morningstar DBRS finds.
Used vehicles collateralize 53.01% of the underlying loans, and loans in OCCU 2026-1 have a balance of $34,185, with an annual percentage rate (APR) of 7.54%.
Notes are expected to pay coupons of 5.69% on the A1A notes and 5.89% on the A1B notes. Beyond that, the A2 and A3 notes pay coupons of 5.92% and 5.97%, respectively.
Community banks that could reel in cheap deposits while keeping a lid on expenses were able to outperform peers in 2024.
While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.
