Loan Term Distribution - HAROT 2021-4
HAROT 2021-4 has 88.7% of its pool with a loan term 61 and 72 months.
Chart Summary
HAROT 2021-4 has 88.7% of its pool comprised of loans with a loan term 61 and 72 months, totaling $199,673,408 in unpaid principle balance according to Edgar sec.gov filings. The reporting period for this information begins 2024-12-01 and ends 2024-12-31.
Prompts
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Summarize Loan Term Distribution
Summarize the loan term distribution for HAROT 2021-4. Highlight the dominance of 61-72 month terms, which account for 97.4% of the pool. Discuss the implications of this concentration on pool performance and investor expectations.
Assess Impact of Loan Term Concentration
Analyze the loan term concentration for HAROT 2021-4, where 97.4% of the pool falls within the 61-72 month range. Discuss how this concentration affects interest rate sensitivity, delinquency risks, and prepayment speeds.
Compare Loan Term Distribution to Market Averages
Compare the loan term distribution for HAROT 2021-4 against market averages for ABS auto deals. Discuss any notable deviations, such as a higher-than-usual concentration in 61-72 months, and what this suggests about borrower behavior and underwriting trends.
Evaluate the Effects of Shorter Loan Terms
Discuss the potential risks and benefits of having a significant portion of the pool in loans with shorter terms (less than 61 months). Highlight how this could impact default risks, cash flow stability, and overall pool performance.
Impact of Long-Term Loans on Performance
Examine the small proportion of long-term loans (73-75 months) in HAROT 2021-4. Discuss how this may affect the pool's duration, the likelihood of prepayment, and the overall risk profile of the deal.
Visualize Loan Term Distribution by UPB
Create a loan term distribution visualization for the loan term distribution in HAROT 2021-4, showing the UPB for each loan term range (e.g., <61, 61-72, 73-75). Annotate the chart with the corresponding percentage of the total pool to highlight concentration.
Analyze Loan Term Distribution Trends Over Time
Discuss whether the loan term distribution for HAROT 2021-4 reflects a broader trend in the ABS auto market. Evaluate how changes in loan term preferences (e.g., a shift to shorter or longer terms) might affect pool performance in the future.
Examine Risks from High Loan Term Concentration
Using the loan term distribution for HAROT 2021-4, assess the risks associated with the high concentration of loans in the 61-72 month term range. Focus on how this affects the pool's exposure to economic shifts, interest rate changes, and borrower default behavior.
Compare Loan Term Distribution Across Peer Deals
Compare the loan term distribution of HAROT 2021-4 to other ABS auto deals. Discuss any differences, such as a higher concentration of short-term loans or longer loan terms, and analyze what these differences suggest about market trends and borrower characteristics.
Evaluate Borrower Preferences and Loan Term Choices
Analyze the loan term distribution for HAROT 2021-4 to gain insights into borrower preferences. Discuss how the preference for 61-72 month loans may indicate borrower financial behaviors, such as budgeting for monthly payments or preferences for stability.
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