Continuing a string of developments that have included a new client and an integration with another industry service provider, loan origination system (LOS) provider defi SOLUTIONS recently announced that the company will be expanding its product offerings to include a ... [Read More]

Subprime Analytics recently reported the largest reduction in subprime auto finance down payments since 2011. Subprime auto finance down payments experienced a 15 percent year-over-year decrease in 2015. While down payments are down, the amount financed is up. According to ... [Read More]

Sword Apak announced on Friday that Jeff Bunch — whose professional career includes time with Manheim, Black Book, Auction Credit Enterprises and America’s Auto Auctions — is now with the wholesale floor planning software provider as its vice president of ... [Read More]

S&P Global Ratings described collateral performance for the subprime sector in its latest U.S. Auto Loan ABS Tracker as “mixed.” Overall on a year-over-year basis, analysts indicated the performance for both the prime and subprime sectors exhibited higher losses and ... [Read More]

With officials saying some auto finance companies “deceived” individuals in multiple ways, the Consumer Financial Protection Bureau recently tabulated that its supervisory actions during the first four months of the year uncovered “illegal activities” that led to approximately $24.5 million ... [Read More]

During the past month, Reynolds and Reynolds added three more states to its network associated with Reynolds Document Services. Joining the ranks are New Mexico, Idaho and Kentucky. Dealerships in 22 states can now access a comprehensive catalog of standardized, legally ... [Read More]

For the seventh consecutive year, the American Financial Services Association and the National Automobile Dealers Association co-sponsored an executive forum to discuss legislative, regulatory and operational challenges facing dealers and finance sources. Led by David Paul, chair of AFSA’s Vehicle ... [Read More]

Heritage Acceptance hopes to increase its financing efficiency and speed by teaming up with defi SOLUTIONS. The subprime finance company announced recently that it is now utilizing the defi SOLUTIONS loan origin system (LOS), after going live with the solution ... [Read More]

An important number that the nation’s auto dealers should know is 2663. NADA’s battle to tame the Consumer Financial Protection Bureau continues and Senate bill S. 2663 is the next chapter. This bill, entitled, “Reforming CFPB Indirect Auto Financing Guidance ... [Read More]

For the third time in the span of about a year, New York attorney general Eric Schneiderman announced a settlement with a dealership regarding either the advertising or the financing practices conducted by the store. The most recent development is ... [Read More]