EXHIBIT 21.1
 
                         SUBSIDIARIES OF THE REGISTRANT
 
     AutoBond Funding Corporation I, a Delaware corporation
 
     AutoBond Funding Corporation II, a Delaware corporation
 
     AutoBond Funding Corporation 1995, a Delaware corporation
 
     AutoBond Funding Corporation 1996-A, a Delaware corporation
 
   
     AutoBond Funding Corporation 1996-B, a Delaware corporation