Open Lending lands partnerships with Automatic & CreditSnap
Wednesday, Feb. 7, 2024, 11:42 AM
SubPrime Auto Finance News Staff
Open Lending Corp. finalized a pair of partnerships before closing the first month of the year. First, the provider of risk analytics solutions for financial institutions launched a partner integration with CreditSnap, a fintech platform that can allow financial institutions ... [Read More]
From the editor: A ‘well, duh’ moment in Las Vegas
Monday, Feb. 5, 2024, 10:31 AM
Nick Zulovich, Senior Editor
Cherokee Media Group joined much of the automotive industry in Las Vegas last week for the conferences hosted by the American Financial Services Association, the National Auto Auction Association and the National Automobile Dealers Association. One of the primary tasks ... [Read More]
NADA welcomes House proposal to nullify FTC CARS Rule
Monday, Feb. 5, 2024, 10:29 AM
SubPrime Auto Finance News Staff
As the National Automobile Dealers Association prepared to open NADA Show 2024 in Las Vegas, a development surfaced back in Washington, D.C., that the organization cheered, too. Rep. Kelly Armstrong, a North Dakota Republican in the U.S. House of Representatives, ... [Read More]
Open Lending survey: 69% of near- and non-prime consumers looking to pay off contract early
Monday, Jan. 29, 2024, 11:04 AM
SubPrime Auto Finance News Staff
Open Lending Corp. offered a glimpse into some of the insights found through its newest study on vehicle accessibility and automotive financing perceptions among near- and non-prime consumers. The report builds on Open Lending’s 2023 Vehicle Accessibility Index, which explored ... [Read More]
Consumer Stress Legal Index at highest point since November 2020
Monday, Jan. 29, 2024, 11:00 AM
SubPrime Auto Finance News Staff
LegalShield experts contend consumers’ financial status and optimism might not be so rosy. LegalShield recently released new data suggesting rising financial instability for consumers nationwide. The company’s December Consumer Stress Legal Index (CSLI) increased for the 10th straight month to ... [Read More]
Executives highlight flexible capabilities of defi ORIGINATIONS
Friday, Jan. 26, 2024, 11:18 AM
SubPrime Auto Finance News Staff
Developers at defi SOLUTIONS took what they called their next step toward continuous improvement this week, building on decades of software development to release defi ORIGINATIONS. With expertise gained from the delivery of two originations systems and honed through close, ... [Read More]
GDS Link & Carleton partner to enhance calculations & decisioning
Friday, Jan. 26, 2024, 11:18 AM
SubPrime Auto Finance News Staff
GDS Link announced a strategic partnership with Carleton this week. The potential benefits derive from integrating Carleton’s financial calculations, CarletonCalcs, and lending document generation software, CarletonDocs, within GDS Link’s credit risk decisioning solutions. CarletonCalcs is a suite of configurable payment ... [Read More]
Credit Acceptance promotes long-time exec to CFO
Friday, Jan. 26, 2024, 11:17 AM
SubPrime Auto Finance News Staff
On Thursday, Credit Acceptance announced the promotion of Jay Martin to chief financial officer, a move that had become effective two days earlier. Martin joined Credit Acceptance in 2003, serving in a variety of “increasingly challenging” roles throughout his tenure. ... [Read More]
Santander study reinforces value of vehicle access
Thursday, Jan. 25, 2024, 11:36 AM
SubPrime Auto Finance News Staff
Santander Holdings USA recently announced findings from a new survey that shows middle-income American consumers were feeling optimistic in the fourth quarter, with 70% of respondents believing they are on the right track toward achieving financial prosperity and 80% believing ... [Read More]
SAFCO adds Colombian finance company as strategic partner
Wednesday, Jan. 24, 2024, 12:01 PM
SubPrime Auto Finance News Staff
Southern Auto Finance Co. (SAFCO) is adding some international support to its operation that focuses on the subprime auto finance market. Last week, SAFCO announced that Colombia-based Finanzauto has acquired a minority equity stake in the company. SAFCO said this ... [Read More]