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February 27, 2017 - Industry News

Black Book/Fitch: Vehicle Depreciation to Reach 17.8% in 2017

The vehicle valuation firm said the depreciation rate will rise from 17.3% in 2016 to 17.8%, while Fitch said Auto ABS performance will continue to slow in 2017 as losses slowly rise to more normalized levels.

Tags: Auto ABS, Black Book, Fitch Ratings, vehicle depreciation

December 1, 2016 - Industry News

Fitch: Subprime Auto ABS Losses Creep Up, Prime Stable

Annualized net losses for prime auto loan ABS declined on a monthly basis in October, while subprime losses rose 32 basis points to 9.61%, according to the ratings agency. Subprime ANL, however, remain within levels recorded earlier this year.

Tags: Auto ABS, auto finance, Fitch Ratings, prime financing, subprime auto finance

December 30, 2014 - Industry News

Moody’s Sees Silver Lining in Regulatory Scrutiny of Auto Finance

Moody’s expects the performance of new and outstanding auto loan ABS deals to suffer temporarily due to current regulatory activity, but it does see a silver lining in the increased scrutiny of the auto finance marketplace.

Tags: Auto ABS, compliance, Federal Trade Commission, Moody's Analytics, Regulations, subprime

August 5, 2013 - Industry News

Fitch: U.S. Auto ABS Performance Going Strong

U.S. auto loan ABS asset performance continues to be solid with historically low delinquency rates and loss rates at or near record lows, despite a slight uptick in loss rates during June.

Tags: ABS ratings, Auto ABS, Delinquencies, Fitch Ratings, loans, subprime

September 18, 2012 - Industry News

Fitch: Losses Hold Steady for U.S. Auto ABS

Fitch Ratings’ latest index reading indicates steady performance within the auto ABS segment, with prime annualized net losses dropping 24 percent.

Tags: Auto ABS, Fitch Ratings

August 2, 2012 - Industry News

Fitch: Prime U.S. Auto ABS Off to Solid Second-Half Start

Prime delinquencies are stable and prime cumulative net losses have improved, but the ratings agency says economic volatility and the European financial crisis could dampen growth prospects.

Tags: Auto ABS, Delinquencies, European financial crisis, Fitch Ratings

May 8, 2012 - Industry News

Fitch: Underwriting Looser, But Reasonable

In a note to bondholders, Fitch Ratings said it believes the move toward slightly riskier borrowers in prime auto ABS pools is unlikely to present a near-term risk.

Tags: Auto ABS, Auto Loans, Fitch Ratings, Manheim

April 12, 2012 - Industry News

Auto ABS Sales on the Rise

More than $5 billion in auto asset-back securities sales were made on Wednesday, providing more proof that investor demand for auto bonds remains high.

Tags: Auto ABS, Bank of America, Toyota Financial Services, Wells Fargo Securities

March 20, 2012 - Industry News

Losses for Prime Auto Loan ABS at Record Low, Fitch Reports

Performance remained stellar for U.S. prime auto ABS, with losses dropping to a new record low, according to the latest index results from Fitch Ratings.

Tags: Auto ABS, Auto Loans, Fitch Ratings, Subprime Analytics

March 15, 2011 - Industry News

Fitch: Rising Gas Prices Not a Concern for Auto ABS

Rising gas prices are likely to have a limited impact on U.S. auto loan and lease asset-back securities (ABS) performance, particularly compared to 2008 — when the price of regular grade gasoline spiked to nearly $4.15 a gallon, according to Fitch Ratings.

Tags: Auto ABS, Finance, Fitch Ratings

November 9, 2010 - Industry News

Fitch: 2009 U.S. Prime Auto ABS Exceeding Expectations

Lower than expected losses for 2009 U.S. prime auto ABS loans are positioning this vintage for continued positive rating performance as the broader economy slowly improves, according to Fitch Ratings.

Tags: Auto ABS, Fitch Ratings

October 26, 2010 - Industry News

Fitch: U.S. Auto ABS Losses Rise in 3Q; Softness to Continue

The prolonged stressed state of the U.S. consumer and seasonal pressures pushed U.S. auto loan ABS losses and delinquencies higher in the most recent period, according to the latest Auto Loan ABS index results from Fitch Ratings.

Tags: Auto ABS, Delinquencies, Fitch Ratings

September 16, 2010 - Industry News

AmeriCredit Prices $850 Million Asset-Backed Securities

AmeriCredit Corp. announced Wednesday the pricing of an $850 million offering of automobile receivables-backed securities.

Tags: AmeriCredit, Auto ABS

August 31, 2010 - Industry News

Auto Loan ABS Performance Follows Seasonal Downshift

The performance of U.S. auto loan ABS is starting to exhibit seasonal negative trends, according to the auto loan ABS indices results from Fitch Ratings.

Tags: Auto ABS, Delinquencies, Fitch Ratings, prime financing, subprime

June 15, 2010 - Industry News

New York State Regulation May Drive Away Auto Loan ABS

The New York State Assembly proposed a new bill called the Vehicle Lienholder Accountability Act, which may limit auto loan ABS issuers from including receivables originated in New York state in auto loan securitizations, according to ratings firm DBRS.

Tags: Auto ABS

January 14, 2010 - Industry News

Auto ABS Performs Well in 2009 Despite Pressure From High Unemployment

The U.S auto loan ABS sector has performed relatively well in 2009 compared to other ABS asset classes despite the increase in unemployment, bankruptcies of GM and Chrysler and the volatility in the used-car market, according to ratings firm DBRS.

Tags: Auto ABS, unemployment rates

January 7, 2010 - Industry News

Fitch Lifts Moratorium on Rating Dealer Floorplan Transactions

Fitch Ratings has lifted the moratorium on rating auto dealer floorplan transactions and published a revised Global Dealer Floorplan (DFP) ABS criteria report. It supersedes, in its entirety, the reports titled “Rating Criteria for U.S. Dealer Floorplan ABS”, dated May 14, 2008 and “European Auto Dealer Floorplan ABS Criteria”, dated Feb. 6, 2008.

Tags: Auto ABS, Fitch Ratings, Floorplan Financing

December 29, 2009 - Industry News

New Year Brings Continued Performance Pressure for Auto ABS

Annualized net losses (ANL) on U.S. auto ABS rose again in November in a trend likely to continue into 2010, according to Fitch Ratings.

Tags: Auto ABS, Delinquencies, Fitch Ratings

December 15, 2009 - Industry News

Prestige Financial Securitizes $151 Million Loan Portfolio

Prestige Financial Services Inc. completed its seventh rated term securitization, issuing $140.5 million in notes backed by $151.1 million in subprime automobile installment loans.

Tags: Auto ABS, Prestige Financial, subprime

December 1, 2009 - Industry News

Auto ABS Temporarily Bucks Seasonality Trend, Says Fitch

Despite various negative indicators, U.S. auto ABS delinquency and annualized net losses (ANL) actually improved at a time of the year when performance characteristically begins to deteriorate, according to Fitch Ratings.

Tags: Auto ABS, Fitch Ratings, used vehicles

October 27, 2009 - Industry News

Fitch Sees Better-Than-Expected Performance of Auto Loans

The ratings for prime senior tranches of asset-backed securities (ABS) auto loan and credit card transactions have remained stable in the first nine months of the year, despite concerns by Fitch Ratings about growing problems in consumer credit and unemployment.

Tags: Auto ABS, Bank of America, Capital Auto, Fitch Ratings, Wachovia

October 15, 2009 - Industry News

Rebound in Used Vehicle Values Benefits U.S. Auto Lease ABS, Says Fitch

The resurgence of the United States wholesale vehicle market in 2009 has reversed the trend of heavy residual value (RV) losses on leased vehicles in late 2008, and steadied the performance of U.S. auto lease ABS transactions, according to Fitch Ratings.

Tags: Auto ABS, Fitch Ratings

October 1, 2009 - Industry News

Auto ABS Delinquencies Jump 10 Percent on Rising Unemployment, Says Fitch Ratings

Sixty-plus-day delinquency levels on U.S. prime auto loan ABS rose more than 10 percent to reach 0.85 percent in August, as consumers continue to struggle with rising unemployment and reduced access to credit, according to Fitch Ratings.

Tags: Auto ABS, Fitch Ratings

September 29, 2009 - Industry News

Dealer Floorplan ABS Resilient Despite Recession and Automaker Bankruptcies

Auto dealer floorplan asset-backed securities (ABS) continue to perform and remain resilient despite the recession and the bankruptcies of two domestic automakers, said ratings firm DBRS.

Tags: Auto ABS, Chrysler, General Motors

September 22, 2009 - Industry News

C4C Program Helps Auto ABS Market Recovery

The automotive loan asset-backed securities (ABS) market is slowly rebounding with the help of the federal Cash for Clunkers (C4C) program, which created an uptick in the new vehicles sales volume, said ratings firm DBRS.

Tags: Auto ABS, Cash for Clunkers program

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