Big Wheels: Expected losses rise in PenFed’s first auto ABS deal in two years
Auto ABS issuance rose 21% YoY to $119.2B
Losses across Pentagon Federal Credit Union’s first auto securities issuance in two years are projected higher compared with the lender’s 2022 deal, driven in part by a larger share of longer-term loans. Tysons, Va.-based PenFed issued a $447.4 million auto asset-backed securitization (ABS) deal backed by prime loans on Aug. 13, according to Finsight, which […]
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