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November 16, 2018  

Failure Imminent for Auto-Loan Transaction

Amid accusations that the company may have exaggerated its asset performance, the lone securitization from subprime auto lender Honor Finance is on the verge of default.Asset losses have caused over-collateralization for the $100 million transaction’s first-loss Class-C piece to fall to virtually zero. And with the tranche’s remaining receivables including a large number of delinquent accounts, sources said those notes likely will...

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