# HAROT-2025-1
American Honda Finance · prime · 19 monthly tapes, 2024-12-31 to 2026-07-31

**Score 0** (weighted flags).

## Latest month, counted from the loan tape

| Measure | Value |
|---|---|
| Pool factor | 43.5% |
| Cumulative net loss (of original pool) | 0.23% |
| 60+ reported (balance-weighted) | 0.33% |
| 60+ extension-adjusted (6-month lookback) | 0.33% |
| Masking gap | 0 bps |
| Extension stock (touched in trailing 6 months) | 0.00% |
| New extensions this month | 0.00% |
| Repossessed, not yet liquidated | 0.09% |
| Recoveries / charge-offs, cumulative | 60.4% |
| Loans remaining | 68,676 · balance $1.08B |
| At issuance | 104,073 loans, $2.49B, WA score 768, WA term 63.1, used 14% |

Opening gap: 2024-12-31 -> 2025-02-28 (issuer filed the opening tapes under one report date).

## Flags

- none

## Reads on the desk

- WATCH: Extension-adjusted 60+ delinquency (0.33%) sits 0bps above reported (0.33%), inside the 75bps threshold. Extensions are present but are not currently flattering the curve.
- WATCH: Cumulative net loss is 0.23% at month 18, against a median of 0.76% across the 39 deals on tape at the same seasoning. Below the band by 0.53 points.
- WATCH: Cumulative recoveries stand at 60.4% of charged-off principal. Evidence: Schedule AL chargedoffPrincipalAmount and recoveredAmount summed across all 19 monthly tapes.

## The bonds on top (servicer report, 2026-07-31)

Pool $0 · notes $1.08B in 3 classes · overcollateralization $0 · reserve $6.1M · reported cumulative net loss 0.24% · delinquency 0.19% vs trigger 4.80%

| Class | Balance | Hard enhancement below it | Enhancement % of pool | Cushion after stress 1 | after stress 2 |
|---|---|---|---|---|---|
| A-2 | $56.4M | $1.03B | 541576251052.6% | +$1.03B | +$1.03B |
| A-3 | $891.5M | $137.5M | 72365724736.8% | +$137.5M | +$137.5M |
| A-4 | $131.4M | $6.1M | 3196251052.6% | +$6.1M | +$6.1M |

Stress 1 = the tape's extension-adjusted 60+ balance (0.33% of pool) charged off at this deal's own severity (40%): $0. Stress 2 doubles it. Hard enhancement only (junior classes + OC + reserve); excess spread not counted. Not a rating. Not read from this issuer's layout: oc not parsed. Source: https://www.sec.gov/Archives/edgar/data/2052479/000119312526369417/na-ex99_1.htm

## How to verify

- Page: https://getbookiq.com/intel/#deal=HAROT-2025-1
- Data: https://getbookiq.com/intel/data/abs.json (deals[].months)
- Vintage and index curves for its lender: https://getbookiq.com/intel/#curves
- Definitions: https://getbookiq.com/dictionary/#auto-dq60a
- Source: Form ABS-EE loan tapes on SEC EDGAR. Extension-adjusted delinquency is a modeling choice: the same deal shows a gap of 562 / 1,156 / 2,191 bps at 3 / 6 / 12 month lookbacks. Never quote the gap without the window.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide