3 new executives reinforce management as Veros Credit eyes more market share
Monday, Oct. 14, 2024, 10:36 AM
Open Lending partners with Point Predictive to boost underwriting in non-prime space
Monday, Oct. 14, 2024, 10:35 AM
Onbe releases survey about refund processes amid CFPB examinations
Thursday, Oct. 10, 2024, 11:11 AM
Subprime ABS improvement stalls in June
Tuesday, Aug. 9, 2016, 01:47 PM
SubPrime Auto Finance News Staff
Reversing an improvement that spanned four consecutive months, S&P Global Ratings determined collateral performance for subprime auto loan asset-backed securities (ABS) deteriorated month-over-month in June with net losses, recoveries and delinquencies all weakening. On a year-over-year basis, analysts found that ... [Read More]
How blockchain technology might impact auto finance
Monday, Aug. 8, 2016, 03:28 PM
Nick Zulovich, Senior Editor
If you ask White Clarke Group’s technology innovators what blockchain is, their eyes will light up, and they will spend the next hour telling you about all the possible legitimate uses of this new technology that they contend “is set ... [Read More]
89 more professionals complete NAF Association Consumer Credit Compliance Certification Program
Monday, Aug. 8, 2016, 03:19 PM
SubPrime Auto Finance News Staff
Representatives from six different captive finance companies, two other institutions at or near the top of quarterly market share rankings as well as dealerships and other service providers are among the 89 members of the spring 2016 graduating class that ... [Read More]
GWC Warranty top dealer reward programs hit record numbers
Friday, Aug. 5, 2016, 03:35 PM
SubPrime Auto Finance News Staff
GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, has set a new record for the number of dealers who have qualified for its top dealer reward programs — The Elite Dealer ... [Read More]
Avoiding subprime completely can make credit unions ‘elitist’
Friday, Aug. 5, 2016, 03:34 PM
Nick Zulovich, Senior Editor
Indiana Members Credit Union chief executive officer Ron Collier explained how this segment of auto financing providers can become “elitist” if all they do is book vehicle installment contracts with consumers whose FICO scores are 800 or higher. Perhaps credit ... [Read More]
More than 100 lawmakers want CFPB arbitration plan enacted
Thursday, Aug. 4, 2016, 04:34 PM
SubPrime Auto Finance News Staff
The Congressional summer recess might just be rampimg up in earnest this week, but 38 Senate members and another 65 House lawmakers delivered a letter to Consumer Financial Protection Bureau director Richard Cordray to push through the agency’s plan to limit ... [Read More]
Tough decision: Manage the book or grow the book?
Wednesday, Aug. 3, 2016, 03:55 PM
Nick Zulovich, Senior Editor
In the executive boardrooms at automakers and finance companies, challenging conversations are being conducted. With sentiment intensifying about “plateauing” new-vehicle sales and institutions consistently looking for yield in light of where the Federal Reserve has kept interest rates, deciding whether ... [Read More]
CFPB incorporating more comments into complaint database
Tuesday, Aug. 2, 2016, 03:11 PM
SubPrime Auto Finance News Staff
At last check (including June activity), the Consumer Financial Protection Bureau said the agency has handled approximately 930,700 total complaints across all products since opening its complaint database in June 2012. While only a small fraction of that complaint figure stems ... [Read More]
Collection experts dissect CFPB’s latest proposal
Monday, Aug. 1, 2016, 03:54 PM
Nick Zulovich, Senior Editor
While BillingTree offered some first-hand assessments from attendees who were in Sacramento, Calif., for the Consumer Financial Protection Bureau’s field hearing after the agency released its debt collection regulatory proposal, SubPrime Auto Finance News also connected with a current member ... [Read More]
Utah now part of Reynolds F&I library
Monday, Aug. 1, 2016, 03:45 PM
SubPrime Auto Finance News Staff
Reynolds and Reynolds continued to build its resources for dealerships by recently releasing the Reynolds LAW Utah F&I Library, which is a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised dealers throughout the state of ... [Read More]