Recovery Industry Services Co. and MBSi Capital Corp. recently announced they joined forces to become the sole provider of vehicle key codes within the iRepo Assignment Management Solution to all Ally Financial vendors. The companies insisted MBSi designed the process to be easy and expedient. They indicated key code requests take place post recovery at […] [Read More]

As buy-here, pay-here dealers continue to find new and improved ways to keep customers paying on their contracts, the Federal Reserve's Retail Payments Office recently announced plans to conduct a new study to determine the current volume and composition of electronic and check payments in the United States. The 2013 Federal Reserve Payments Study consists […] [Read More]

The prospectus connected with a $1.25 billion offering of automobile receivables-backed securities Santander Consumer USA rolled out earlier this month showed contracts involving Dodge vehicles constituted the highest percentages of receivables and outstanding principal balances within the deal. Future regulatory filings might outline an even higher percentage if Santander reaches a deal to be the […] [Read More]

Auto Financial Group, an online provider of residual-based financing products for credit unions and banks, recently reported continued strong momentum for its DrivingSense balloon auto loan program by signing a dozen new institutions. The latest additions include Amplify Credit Union, APEX Community FCU, Citadel FCU, Commonwealth Credit Union, Dade County FCU, Evansville Teachers FCU, First […] [Read More]

As Edmunds.com discussed the potential benefits of “lease pull-ahead” offers, Fitch Ratings believes new-model leasing is poised to benefit from another generally healthy used-vehicle market this year, extending some gains realized as a result of robust residual values for leased cars and trucks seen during the last three years. Fitch expects lessors to continue to […] [Read More]

In what the company called a move to solidify plans for its new automotive parts and service operation, American Suzuki Motor Corp. announced late Tuesday that the disclosure statement for its amended Chapter 11 bankruptcy plan has been approved by Judge Scott Clarkson of the U.S. Bankruptcy Court of the Central District of California. Officials […] [Read More]

Enterprise Car Sales, which specializes in working with credit unions of all sizes to increase auto loan volume, said it generated a total of more than $380 million in loan volume for credit unions through used-vehicle sales to more than 23,000 credit union members during 2012. Officials indicated the loan volume generated is 15 percent […] [Read More]

Dealertrack Technologies will host a free compliance webinar to serve as a wrap-up of 2012 developments and to discuss important changes in compliance regulations dealers likely will encounter this year. The session is scheduled for 2 p.m. (ET) on Thursday. This webinar will be hosted by Dealertrack compliance counsel Randy Henrick. Dealertrack indicated the event […] [Read More]

Allied Finance Adjusters and Recovery Specialist Insurance Group announced their 2013 annual conferences will be a collaborative effort for three days of education, training, networking and entertainment. The event will be held at the Hyatt Regency Pier 66 Hotel in Fort Lauderdale, Fla., on April 17–19. All recovery lenders, vendors and repossessors are welcome to […] [Read More]

Investment research firm DBRS expects that lenders will begin to loosen credit standards to achieve growth strategies as the auto finance market continues to improve, competition increases and credit availability resumes. As a result, the firm contends these developments will likely put negative pressure on collateral performance, increasing pool delinquencies and losses. “Furthermore, the weaker, […] [Read More]