Five straight months of credit tightening for auto finance stops in September
Wednesday, Oct. 16, 2024, 10:36 AM
Team-first approach cultivated in the Marines propels Messiha to be Loss Mitigation Executive of the Year
Wednesday, Oct. 16, 2024, 01:39 PM
New York Fed & LegalShield notice more strain on consumer finances
Thursday, Oct. 17, 2024, 10:31 AM
FTC still seeking public comment about proposed financing survey
Monday, Sep. 19, 2016, 03:28 PM
SubPrime Auto Finance News Staff
The Federal Trade Commission recently issued a second Federal Register Notice (FRN) on a proposed qualitative survey of consumers to learn about their experiences in buying and financing vehicles at dealerships, and is seeking clearance from the Office of Management ... [Read More]
AFG recent growth includes 6 more credit unions using balloon program
Friday, Sep. 16, 2016, 02:59 PM
SubPrime Auto Finance News Staff
Auto Financial Group — an online provider of innovative financing products including CarMark Auto Finance for credit unions and banks — highlighted its summer growth figures this week, revealing increasing momentum in new customer signings with AFG's Balloon Lending program. ... [Read More]
Spartan Financial grants $10M credit line to private equity firm
Friday, Sep. 16, 2016, 02:55 PM
SubPrime Auto Finance News Staff
DPG Investments — a company that currently has 26 private equity holdings while overseeing $1.5 billion in capital commitments since 2004 — closed on a line of credit on Friday so it can dive deeper into the non-prime auto finance ... [Read More]
Some managers struggling to adapt to changing data world
Thursday, Sep. 15, 2016, 02:32 PM
SubPrime Auto Finance News Staff
Research recently released by TransUnion found that two in three lenders feel that data and analytics are evolving faster than their own internal capabilities. TransUnion surveyed 309 banks, credit unions and consumer finance companies to learn more about their use ... [Read More]
House committee passes Dodd-Frank replacement
Wednesday, Sep. 14, 2016, 03:31 PM
SubPrime Auto Finance News Staff
In a moved cheered by a wide array of organizations including the Consumer Bankers Association and the Independent Community Bankers of America, the U.S. House Financial Services Committee passed what Republican lawmakers are touting as an alternative to the Dodd-Frank ... [Read More]
RouteOne & TFS accelerate funding for Toyota dealers
Wednesday, Sep. 14, 2016, 03:29 PM
SubPrime Auto Finance News Staff
RouteOne and Toyota Financial Services (TFS) on Wednesday announced that they are bringing Toyota dealers the ability to automatically book TFS electronic contracts with no human interaction. This technology, called Straight-Through Processing, is designed to offer dealers faster funding by ... [Read More]
3 used-leasing scenarios covered in Black Book paper
Tuesday, Sep. 13, 2016, 02:54 PM
Nick Zulovich, Senior Editor
As more off-lease vehicles hit the wholesale market, dealers and finance companies are likely to be challenged to find buyers who will purchase these potentially certified pre-owned units even as CPO sales continue to set records. In an effort to ... [Read More]
Northwood students receive EFG-NAMAD scholarship
Monday, Sep. 12, 2016, 02:51 PM
SubPrime Auto Finance News Staff
EFG Companies and the National Association of Minority Automobile Dealers (NAMAD) announced that Northwood University students Norma Benavides and Isabelle Daoud have received the annual NAMAD Private Donor Scholarship. EFG Companies, NAMAD and Northwood created the scholarship in 2015 to ... [Read More]
CFPB roundup: Consumer complaints near 1 million
Friday, Sep. 9, 2016, 03:07 PM
Nick Zulovich, Senior Editor
As the regulator handed out a $100 million penalty to Wells Fargo for activities not related to auto financing, the Consumer Financial Protection Bureau noted that the amount of complaints in its database continues to surge toward 1 million entries. ... [Read More]
E-Credit Express boosts dealer solution with NADA UCG data
Friday, Sep. 9, 2016, 03:05 PM
SubPrime Auto Finance News Staff
Automated, online lender management platform E-Credit Express (ECE) recently entered into an agreement with NADA Used Car Guide to speed up the used-vehicle sale and loan approval process. The integration of NADA Used Car Guide's values into the ECE platform ... [Read More]