New ValidiFI report reinforces importance of spotting high-risk indicators of ACH transactions
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PODCAST: StoneEagle has career recommendations after compiling latest F&I metrics
Wednesday, Jul. 7, 2021, 03:15 PM
SubPrime Auto Finance News Staff
When StoneEagle F&I senior vice president of business development Joe St. John worked as a dealership manager, he taped a dime to the phones of store employees in the finance department to remind them of the revenue goal for every ... [Read More]
Santander Consumer USA considering offer for outstanding shares
Tuesday, Jul. 6, 2021, 12:50 PM
SubPrime Auto Finance News Staff
Santander Consumer USA Holdings (SC) has a significant decision to make. According to a news release distributed just before the Fourth of July weekend, the subprime auto finance company announced that it has received a non-binding proposal from its majority ... [Read More]
A new alliance for F&I: J.D. Power and JM&A Group
Friday, Jul. 2, 2021, 02:02 PM
SubPrime Auto Finance News Staff
J.D. Power and JM&A Group are leveraging their collective finance-industry knowledge, forming a strategic alliance to develop jointly branded F&I products and services for auto dealers and buyers nationwide. Focused initially on a suite of warranties and service contracts designed ... [Read More]
Nortridge taps Davis to be chief product officer with growth in mind
Friday, Jul. 2, 2021, 02:00 PM
SubPrime Auto Finance News Staff
Nortridge Software wants to grow so the company created a new position for an executive who has been with the company for 18 years. This week, Nortridge announced that Bret Davis will fill the newly created role of chief product ... [Read More]
Edmunds spots new record in used market, notable jump in average down payments
Thursday, Jul. 1, 2021, 02:17 PM
SubPrime Auto Finance News Staff
Finance companies appear to be mitigating some risk amid soaring vehicle prices, asking dealerships to collect more in down payments from consumers before the contract enters a portfolio. The second-quarter data compiled by Edmunds seems to reinforce that potential scenario, ... [Read More]
Top 5 metro areas & smaller cities where consumers spend most and least on loans & insurance
Wednesday, Jun. 30, 2021, 03:25 PM
SubPrime Auto Finance News Staff
Philadelphia, Pittsburgh and Reading have more in common than just being three cities in Pennsylvania. A report generated by doxo, an innovative web and mobile bill pay service, showed the trio from the Keystone State is among locations where consumers are ... [Read More]
PODCAST: Subprime securitizations with Davis+Gilbert partner Joseph Cioffi
Tuesday, Jun. 29, 2021, 02:53 PM
SubPrime Auto Finance News Staff
Is the Consumer Financial Protection Bureau “changing the rules of the game” when it comes to subprime auto finance securitizations? That’s one of the many questions explored during this podcast with Davis+Gilbert partner Joseph Cioffi, orchestrator of the Credit Chronometer ... [Read More]
700 Credit lands relationships with Vision Dealer Solutions & Scienaptic
Monday, Jun. 28, 2021, 04:02 PM
SubPrime Auto Finance News Staff
The number of integrations and partnerships involving 700 Credit has ramped up again in recent days as the credit reports, compliance solutions and consumer pre-qualification products landed relationships with Vision Dealer Solutions and Scienaptic. According to the first of separate ... [Read More]
RateGenius: Refinance approvals spike 66%
Monday, Jun. 28, 2021, 04:00 PM
SubPrime Auto Finance News Staff
Rising home values often prompt families to refinance their mortgages. Soaring used-vehicle prices evidently have done the same thing within the auto-finance space, according to a report from RateGenius, which works with more than 150 partners nationwide to help consumers ... [Read More]
Warburg Pincus set to acquire Exeter from Blackstone
Monday, Jun. 28, 2021, 01:04 PM
SubPrime Auto Finance News Staff
Exeter Finance is changing hands from one investment firm to another that already has a robust automotive portfolio. The finance company that specializes in the subprime market announced on Monday that it has entered into a definitive agreement to be ... [Read More]