Asset Backed Securities Market Improves

NEW YORK - Kroll Bond Rating Agency (KBRA) noticed “signs of improvement” within the auto loan ABS market in December.

According to its latest report shared with SubPrime Auto Finance News, analysts indicated annualized net losses in KBRA’s Prime Auto Loan Index remained flat on both a month-over-month and year-over-year basis, coming in at 0.74%. KBRA reported the percentage of prime contract holders who were 60 days or past due rose 1 basis point month-over-month in December by edged 4 basis points lower year-over-year to settle at 0.45%. READ MORE