Jason Laky, senior vice president and automotive business leader for TransUnion, explained that there are generally two reasons why consumers would want to take on a longer-term vehicle installment contract. One reason can be a positive for a finance company; ... [Read More]

Auto financing metrics within the American Bankers Association’s latest Consumer Credit Delinquency Bulletin showed mixed movement in the first quarter as the overall reading prompted the assessment that consumers continued to manage their finances responsibly. Delinquencies settled lower in seven ... [Read More]

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]