Today's announcement regarding CRPB's 3rd securitization demonstrates the continued progress that CRPB is making for the benefit of shareholders. The rates obtained show the continued improvment in spreads that occurred at the time of the second securitization. The 2 prime truanches have a combined interest rate of 1.073% or 50 basis points over the 3 year constant maturity treasury rate. This compares to 1.245% or 55 basis points over the constant 3 year maturity treasury rate in June (2013) and 1.18% or 83 basis points over the constant 3 year maturity treasury rate in November (2012). With the auto loan origination rate running at about $70 million per month and still increasing this is becoming a very profitable business.
A big and hearty CONGRATULATIONS to management for doing an excellent job!
MRFM weak. Very disappointing quarter highlighted by disappointing conference call coupled with significant downgrading of future earnings estimates by company and all the analysts. Where do we go from here?