Tricolor’s bond prices plummeted in the days following the subprime lender’s Chapter 7 bankruptcy filing, with little recovery since then in the riskiest tranches. A drop signals that investors see a sudden increase in risk of nonpayment and losses. Auto Finance News analyzed pricing across the bonds in Tricolor Auto’s asset-backed securitization (ABS) deals, […] The post Tricolor bond prices drop following Chapter 7 filing appeared first on Auto Finance News.| Auto Finance News
Subprime auto lender Arra Finance has secured an over $100 million line of warehouse financing from Goldman Sachs even as lenders are being more cautious. Arra Finance, which acquired Cresent Bank’s auto finance division and servicing rights to its $770 million auto portfolio last month, closed on the warehouse funding line in June, Arra Chief […] The post Exclusive: Arra Finance secures over $100M warehouse line from Goldman Sachs appeared first on Auto Finance News.| Auto Finance News
Wilmington Trust, National Association, a subsidiary of M&T Bank, as trustee for Tricolor Auto, is responsible for facilitating payments and providing protection for noteholders, managing defaults and ensuring that transactions are processed correctly. WTNA on Sept. 20 announced its intent to resign as indenture trustee and custodian for Tricolor’s asset-backed securitization (ABS) transactions but will […] The post Tricolor trustee plagued by payment challenges, potential fraud app...| Auto Finance News
Vietnam’s largest carmaker VinFast Auto Ltd. has secured a $150 million loan from Barclays Plc, as it advances expansion efforts to...| Auto Finance News