You are a finance employee at a financial institution, specializing in originating auto loans in a country where auto loans have only been available for 2 years. Your group has just been informed that a close competitor has securitized $150 million in auto loans through an investment bank.Your boss wants to understand why the competitor did this. Explain.He also wants to understand the potential benefits for the following:the issuerthe investors buying the ABSthe individual borrowers seeking auto loansHe also wants to know the likely impact to the auto loan market in this country if a large, liquid ABS market emerges over the next few years.Please provide use of reference on the body so I know where the data is coming from and being used.You are a finance employee at a financial institution, specializing in originating auto loans in a country where auto loans have only been available for 2 years. Your group has just been informed that a close competitor has securitized $150 million in auto loans through an investment bank.Please provide use of reference on the body so I know where the data is coming from and being used.