Marcie Belles's Blog – March 2012 Archive (6)

Risk Summit Expands Speaker Roster

Senior executives from First Investors Financial Services, Huntington Bank, Mitsubishi Motors Credit of America, TD Auto Finance, and Toyota Financial Services are the latest additions to the Auto Finance Risk Summit speaker faculty.

The Auto Finance Risk Summit highlights the central role risk management plays in all functions of auto lending and leasing.

Tom Redding and Vijay Patil, risk managers at First…

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Added by Marcie Belles on March 20, 2012 at 1:00am — No Comments

Ally Renews $15 Billion Funding Facilities

Nineteen lenders combined to renew $15 billion worth of funding, in two separate facilities, for Ally Financial Inc. and subsidiary Ally Bank. The capital is earmarked for retail, lease, and dealer floorplan originations in the U.S. and Canada.

Renewal of the credit facilities is “a key part of our diversified funding strategy, and supports Ally's growing auto finance business," said Jeff Brown, Ally's senior executive vice president of finance and corporate planning, in a prepared…

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Added by Marcie Belles on March 20, 2012 at 12:30am — No Comments

Weigh In: Chrysler’s Lending Options

With more than $25 billion of financing at stake, Chrysler’s retail and floorplan business has sparked interest from some of the nation’s largest lenders. Among the contenders are Ally Financial Inc., Chase Auto Finance, GE Capital Corp., Santander Consumer USA, US Bancorp, and Wells Fargo & Co.

Chrysler CEO Sergio Marchionne has opened the bidding for two possible scenarios: a captive-type joint venture or a private-label lending arrangement.

Here’s a look at the…

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Added by Marcie Belles on March 13, 2012 at 1:30pm — No Comments

Consumer Credit Nears Pre-Recession Levels

Stepped-up borrowing for cars and schooling drove consumer credit up $17.8 billion in January, according to data from the Federal Reserve. At $2.5 trillion, consumer credit is nearly on par with the pre-recession borrowing level.

Specifically, the Fed-monitored category comprised primarily of auto and student loans increased $20.7 billion ― the biggest jump since November 2011. The gain was offset by a $2.9 billion decline in credit card borrowing.

While economists consider the…

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Added by Marcie Belles on March 9, 2012 at 2:54pm — No Comments

Exeter Completes First Securitization

Six months after being acquired by Blackstone, Exeter Finance Corp. has completed its first-ever securitization ― a $200 million transaction that was privately placed with investors.

The securitization consisted of four tranches, with DBRS ratings ranging from triple-A through double-B, and Standard & Poor’s ratings ranging from double-A through double-B. The weighted average coupon was 3.7%.

Wells Fargo Securities and Deutsche Bank Securities were lead managers on the…

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Added by Marcie Belles on March 2, 2012 at 1:00pm — 1 Comment

Santander Exec to Deliver Capital Markets Address at AFRS

Andrew Kang, director of capital markets at Santander Consumer USA, will present a comprehensive look at liquidity and access to capital in a session at the upcoming Auto Finance Risk Summit.

Kang’s presentation will focus on available channels for capital, secondary market pricing trends, and how companies should incorporate liquidity risk into their overall risk profile.

The Auto Finance Risk Summit highlights the central role risk management plays in all functions of auto…

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Added by Marcie Belles on March 1, 2012 at 1:10pm — No Comments