Davis+Gilbert is a proud sponsor of the 24th Annual Non-Prime Auto Financing Conference being held virtually on November 16-20.
On November 17, Joseph Cioffi, Davis+Gilbert Insolvency + Finance Chair, will moderate a panel titled “Results of Subprime Auto Securitization Market Study.”
Join us as we reveal the results of Credit Chronometer’s survey of subprime auto market participants in all areas of the securitization market – originators, investors, trustees, servicers and others in the field – to gauge and compare current market sentiment versus prior studies done in 2019, pre-COVID 2020 and the beginning of the COVID era. Joseph Cioffi, Partner at the law firm of Davis & Gilbert and author of Credit Chronometer, will lead a discussion of the survey’s results with Ines Beato, Senior Vice President, US ABS Global – Structured Finance at DBRS Morningstar and Sean Morgan, Vice President of Finance at Westlake Financial Services.
The panel will analyze expectations and variances among participant groups regarding the three interdependent factors present in securitizations that have traditionally worked together to contribute to the market’s success: Credit Ratings, Credit Enhancements, and Credit Quality. We will discuss participants’ views regarding performance and particular risk factors, including:
- expected performance trajectory;
- sufficiency of credit enhancements to protect investors
- ability to obtain desired credit ratings;
- significance of layered risk; and
- the success of government relief