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
Some of Wall Street’s most notable corporate trust providers are reportedly turning down offers to take over for Wilmington Trust as Tricolor’s securitization trustee. Wilmington Trust indicated on Sept. 20 that it would step down as Tricolor’s trustee. The trust agreement requires Wilmington to find a replacement trustee within 30 days. Without a replacement trust, […] The post Wall Street trustees said to shun Tricolor job appeared first on Auto Finance News.| Auto Finance News