These baseline macroeconomic scenarios replace DBRS Morningstar’s moderate and adverse COVID-19 pandemic scenarios, which were first published in April 2020.
The transaction assumptions consider DBRS Morningstar’s baseline macroeconomic scenarios for rated sovereign economies, available in its commentary Baseline Macroeconomic Scenarios For Rated Sovereigns - April 2023 Update, published on April 28, 2023. The rating actions are based on the following analytical considerations: (DBRS Morningstar) upgraded 10 ratings and confirmed eight ratings from four Exeter Automobile Receivables Trust transactions. Founded in 2006, the company is headquartered in Irving, Texas. As a result, dealers enjoy personalized service from people they know and trust.
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The company’s underwriting and verification teams work in local branches, rather than a centralized facility. is a specialty auto finance company that provides financing services to select franchised auto dealers throughout the United States. About Exeter Finance Exeter Finance Corp. Exeter reached $100 million in total originations in May. The lender also serves the Atlanta and Philadelphia markets. Exeter operates branches in Irving, Texas Independence, Ohio Paramus, N.J. Exeter will also continue its successful servicing retained loan sale program to fund supplemental loan production. The company plans to add staff to fuel its plans to enter new markets and sign up additional dealers for its finance program. The credit facility will provide substantial capital for the growth of Exeter’s loan portfolio, enabling expansion of its branch network. I am thrilled to join such dedicated professionals and look forward to working together to further the company’s success.”Įxeter recently closed on a $100 million warehouse credit facility with Wells Fargo Bank, N.A., which significantly increased the size of Exeter’s previous line of credit.
“Exeter is a team with high integrity and an outstanding reputation within the dealer community. “Over the last four years, Exeter has built a sound foundation through strong credit risk management, prudent underwriting, solid collection practices and financial controls,” said Floyd. His 30 years of financial services industry experience also includes stints as president, CEO, COO, director and principal shareholder of various banks in the Dallas area. While at AmeriCredit, Floyd’s executive capacities included oversight responsibilities for originations, collections and customer service operations in the U.S. He’s worked extensively with the Exeter management team in different capacities during his career, so we are delighted to have him on board at Exeter as we continue to grow the network and capitalize on new opportunities within the marketplace.” “Mark is a veteran auto finance executive who brings experience in successfully building and leading a growing business platform,” said David Panton, Exeter board member and partner of private equity firm Navigation Capital Partners. Floyd spent more than 12 years in various executive positions at AmeriCredit, including the roles of co-COO and COO. Irving, TX – Exeter Finance Corp., a specialty auto finance company, announced it has named financial industry veteran Mark Floyd as CEO and vice chairman of the board.įloyd has a longtime history with Exeter’s founders, Sam Ellis, Richard Frunzi, Daniel Parry and Kenneth Wardle, as well as Exeter board member Ed Esstman, as the entire group previously worked closely together while all were at AmeriCredit Corporation.
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