Subprime auto lender First Enterprise Financial Inc. of Evanston, Ill., this week sold $44.1 million in asset-backed securities.

The securitization is the first by a subprime auto lender since the sector's highly publicized financial problems began in January. The securities were bought by an insurance company and a pension fund, according to a trader familiar with the transaction.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.