Allied Solutions & FINOFR integrate further to spot chances to add protection products after origination
Monday, Apr. 29, 2024, 11:22 AM
SubPrime Auto Finance News Staff
Allied Solutions and FINOFR recently expanded their ongoing partnership to expand their digital footprint for financial institutions. The result is an integration called Vehicle Protection Reset, which merges FINOFR’s platform with Allied Solutions’ iQQ and Direct Impact Marketing solutions. By ... [Read More]
700Credit rolls out driver’s license authentication integration with iTapMenu
Monday, Apr. 29, 2024, 11:21 AM
SubPrime Auto Finance News Staff
Last week, 700Credit — a provider of credit reports, compliance solutions, soft pull, identity verification and fraud detection platforms — announced an integration with iTapMenu, an F&I menu platform that offers e-signature and e-payment solutions. The new integration includes the ... [Read More]
AFSA unveils Consumer Credit Conditions Index
Monday, Apr. 22, 2024, 11:58 AM
SubPrime Auto Finance News Staff
The American Financial Services Association (AFSA) leveraged its membership base to create its latest ongoing project — the Consumer Credit Conditions Index (C3 Index). AFSA revealed the first findings from this initiative, which is meant to fill a need among ... [Read More]
PODCAST: Lessons learned by 4 repo agents
Friday, Apr. 19, 2024, 10:09 AM
SubPrime Auto Finance News Staff
Four forthcoming repossession agents shared a variety of personal and professional anecdotes last week during the North American Repossessors Summit in Orlando, Fla. The session titled “What I Wish I’d Known … A Cautionary Tale for Small, Medium, & Large ... [Read More]
PODCAST: ARA president seeks ‘call for collaboration’
Friday, Apr. 19, 2024, 10:07 AM
SubPrime Auto Finance News Staff
American Recovery Association president Vaughn Clemmons addressed the record gathering for last week’s North American Repossessors Summit, sharing his “unfiltered beliefs on the state of our recovery industry.” Clemmons described the challenges and opportunities the industry has, asking for a ... [Read More]
APCO Holdings merges EasyCare & National Auto Care brands
Thursday, Apr. 18, 2024, 03:10 PM
SubPrime Auto Finance News Staff
This week, APCO Holdings announced it has merged two of its brands — EasyCare and National Auto Care — into a unified F&I “force” under the EasyCare brand. The merger follows the acquisition of National Auto Care last January. With ... [Read More]
Advice for dealers & finance companies during an election year from EFG Companies
Thursday, Apr. 18, 2024, 11:17 AM
SubPrime Auto Finance News Staff
“Approved this message” is likely a phrase we’ll all see, hear and read often for the foreseeable future since it’s an election year. The message EFG Companies looked to reinforce to retail automotive and powersports dealers and finance companies was ... [Read More]
5 associations urge CFPB to abandon latest request for data about repossessions & more
Wednesday, Apr. 17, 2024, 02:41 PM
SubPrime Auto Finance News Staff
Five industry associations recently sent a 14-page letter to the Consumer Financial Protection Bureau (CFPB), pushing back against the regulator’s request for more information regarding collections and vehicle repossessions by auto finance companies. Part of what troubles these associations is ... [Read More]
AutoPayPlus rolls out F&I reporting tool powered by VisionAST at no additional cost to dealers
Wednesday, Apr. 17, 2024, 12:05 PM
SubPrime Auto Finance News Staff
AutoPayPlus recently expanded its enterprise solution for F&I managers with the launch of AutoPayPlus Reporting, powered by VisionAST. The tool can provide real-time reporting and analytics, empowering decisionmakers with precise data integration into their DMS. AutoPayPlus said the move reinforced ... [Read More]
Smoke sees subprime delinquency & defaults rising
Wednesday, Apr. 17, 2024, 12:05 PM
SubPrime Auto Finance News Staff
According to data Cox Automotive chief economist Jonathan Smoke shared on Tuesday, subprime auto finance portfolios might not be doing so well. Smoke reported that the subprime severe delinquency rate for March was 50 basis points higher year-over-year, as 7.25% ... [Read More]