On Tuesday, NextGear Capital appointed a new vice president of diversified products. Tapped for the role was Frank Ford, who will be responsible for strategic planning, development and growth of diversified non-auto floor plan products. The company indicated those products could include recreational vehicles, marine, powersports, salvage, daily rental and others as implemented. “As market […] [Read More]

NetChoice — a public policy advocacy organization that promotes Internet innovation and communication — is continuing to work on keeping license plate recognition technology available as a tool to boost the efforts of the repossession and recovery industries. NetChoice recently assembled a new presentation to explain LPR technology and debunk myths about how the tool […] [Read More]

Chrysler Group announced Monday that it filed a registration statement for a proposed initial public offering. The automaker, which filed the statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of common shares, said in its press release that it has not determined the number of […] [Read More]

Dealertrack Technologies announced Monday afternoon that it has entered an agreement to purchase VINtek, a provider of automotive collateral management, electronic lien and title and consumer automotive finance processing services. “VINtek has been an innovator and strong supporter in the ELT marketplace for years, and is well-respected by state governments, including their departments of motor […] [Read More]

The Nashville campus of National College recently awarded a Distinguished Community Employer plaque to Primeritus Financial Services, one of the presenting sponsors of this year’s Re3 Conference. Primeritus Financial Services highlighted that it has been instrumental in hiring current students and graduates of National College and has agreed to be an externship site for students […] [Read More]

CU Direct Connect announced last week that it has signed an agreement with Sonic Automotive to be a preferred lender for the dealer group's stores in Colorado. Officials indicated the agreement became effective on Aug. 1. CU Direct Connect, through its more than 34 member credit unions, is collectively one of the largest auto lenders […] [Read More]

One of the presenters coming to this year’s Re3 Conference, MBSi Capital, recently unveiled two new features incorporated into Repo Ninja, a mobile application for the repossession industry. Officials highlighted the two new powerful features include the addition of a full-featured condition report to the app’s tablet version and a full-featured asset recovery form to […] [Read More]

Dealertrack Technologies unveiled a new tool this morning meant to assist dealerships in developing a fair lending policy and better defend themselves in credit discrimination audits. The company introduced an Equal Credit Opportunity Act Model Fair Lending Compliance Policy Template and Model Exception Rate Justification Sheet for Dealertrack compliance subscribers. Company officials recapped that earlier […] [Read More]

Edmonton, Alberta-based Carfinco Financial Group Inc. revealed this week it is expanding into the U.S. market with a new acquisition. The company has purchased Massachusetts-based Persian Acceptance Corp. (PAC), an indirect lender in the subprime retail automotive industry, from Peter and Jennifer Miller. Key members of PAC management will remain in place under the continuing […] [Read More]

Vendor Transparency Solutions and Michael Dougherty of Weltman, Weinberg & Reis announced the date and time for their fourth webinar aimed at helping repossessors and recovery departments remain compliant. The focus of the next session — compliance management as well as unfair, deceptive and abusive acts and practices (UDAAP) — will be covered during the […] [Read More]