UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM ABS-15G

ASSET-BACKED SECURITIZER REPORT
Pursuant to Section 15G of the
Securities Exchange Act of 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

¨    Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period             to             

Date of Report (Date of earliest event reported):             

(Exact name of securitizer as specified in its charter)

(Commission File Number of securitizer)						(Central Index Key Number of securitizer)

Name and telephone number, including area code,
of the person to contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1)  ¨

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i)  ¨

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii)  ¨

þ    Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor:   0001678127   

OneMain Direct Auto Receivables Trust 2021-1

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable):  0001884851 

Central Index Key Number of underwriter (if applicable):                   

Michelle K. Mauerman, (812) 475-7004

Name and telephone number, including area code,
of the person to contact in connection with this filing

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PART II — FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer

The Independent Accountants’ Report on Applying Agreed Upon Procedures, dated as of September 28, 2021 attached hereto as Exhibit 99.1 to this Form ABS-15G is incorporated herein by reference in its entirety.

The information disclosed under this Item 2.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any of the reporting entity’s filings under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly set forth as being incorporated by reference into such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ONEMAIN DIRECT AUTO FUNDING, LLC
(Depositor)

By:    /s/ David R. Schulz    
Name: David R. Schulz
Title: President and Treasurer

Date: September 28, 2021

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EXHIBIT INDEX

Exhibit Number						Description
99.1						Independent Accountants’ Report on Applying Agreed-Upon Procedures, dated September 28, 2021

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			KPMG LLP 345 Park Avenue New York, NY 10154-0102

Independent Accountants’ Report on Applying Agreed-Upon Procedures

OneMain Finance Corporation (the “Company”)

Deutsche Bank Securities Inc. (the “Structuring Agent”)

SG Americas Securities, LLC

Citigroup Global Markets Inc.

Mizuho Securities USA LLC

(together, the “Specified Parties”)

Re: OneMain Direct Auto Receivables Trust 2021-1 – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled “ODART20211_600.xlsb” provided by the Company on September 20, 2021, containing information on 45,116 auto loans (the “Loans”) as of August 31, 2021 (the “Data File”), which we were informed are intended to be included as collateral in the offering by OneMain Direct Auto Receivables Trust 2021-1. The Company is responsible for the specified attributes identified by the Company in the Data File.

The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

•The term “compared” means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the reporting threshold.

•The term “reporting threshold” means that dollar amounts and percentages were within $0.01 and 0.1%, respectively.

•The term “Loan Files” means copies of loan agreements for each Selected Loan (defined below) provided by the Company. We make no representation regarding the validity or accuracy of the Loan Files or the execution of the Loan Files by the borrower.

The procedures we were instructed by the Company to perform and the associated findings are as follows:

    

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A.We randomly selected a sample of 125 Loans from the Data File (the “Selected Loans”). A listing of the Selected Loans was provided to the Company. For purposes of this procedure, the Company did not inform us of the basis they used to determine the number of Loans we were instructed to randomly select from the Data File.

For each Selected Loan, we compared the specified attributes listed below to or using the corresponding information included in the Loan Files. The Specified Parties indicated that the absence of any of the information in the Loan Files or the inability to agree the indicated information from the Data File to the Loan Files for each of the attributes identified, constituted an exception.

Attribute			Loan File
Account Number (PCD_ACCT_NBR)			Loan Agreement
Origination Date (ContractDt)			Loan Agreement
Original Principal Balance (AUPOrigLoanAmt)			Loan Agreement
Original Term (CalcdOriginalTerm)			Loan Agreement
Monthly Payment (OriginalSTDPayment)			Loan Agreement
Annual Percentage Rate (APR) (OrigAPR)			Loan Agreement
Origination State (LoanDocumentState)			Loan Agreement
First Payment Date (FirstDueDt)			Loan Agreement
Vehicle Identification Number (COLLAT_VHCL_VIN_NO_1)			Loan Agreement
Vehicle Make (COLLAT_VHCL_MODL_MK_NM_1)			Loan Agreement
Vehicle Year (COLLAT_VHCL_CY_1)			Loan Agreement

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

    

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The procedures performed were applied based on the information included in the Data File and Loan Files, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Loans, (iii) the reliability or accuracy of the Loan Files which was used in our procedures, or (iv) matters of legal interpretation.

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Loans to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Loans being securitized, (iii) the compliance of the originator of the Loans with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Loans that would be material to the likelihood that the issuer of the issued securities will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations (“NRSROs”).

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

New York, New York

September 28, 2021