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Volume 2014 - Number 39

October 17, 2014

Subprime Share of Auto ABS Issuance Increasing Along with Losses, But Outlook is Largely Positive

Subprime loans are accounting for a larger share of auto ABS issuance and losses on auto ABS are increasing. However, rating services suggest that the trends aren’t too worrisome, with ratings performance on track to record one of the best years ever. Some $66.9 billion in auto ABS were issued this year through September, up 26.8 percent from the same period in 2013. Subprime deals accounted for 25.8 percent of auto ABS issued this year, and volume ($17.0 billion) was down slightly from a year ago. But subprime auto loans also show up...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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