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GM Financial completes $2.75B in public offerings
Wednesday, Mar. 2, 2016, 04:31 PM
SubPrime Auto Finance News Staff
General Motors Financial on Tuesday completed two rounds of public offerings that totaled $2.75 billion. According to a filing with the Securities and Exchange Commission, one segment is $1.5 billion aggregate principal amount of the company’s 4.200 percent Senior Notes due ... [Read More]
8 features of Dealertrack registration and titling solution for California
Wednesday, Mar. 2, 2016, 04:29 PM
SubPrime Auto Finance News Staff
Dealertrack on Tuesday launched its next generation in-state registration and titling solution for dealers in California. With a new modern user interface, the company highlighted this latest version of Dealertrack’s registration and titling system was developed to radically simplify the ... [Read More]
4 tips to save deals when presenting F&I products
Tuesday, Mar. 1, 2016, 02:54 PM
SubPrime Auto Finance News Staff
GWC Warranty offered four suggestions to help vehicle deliveries from disintegrating at the point when F&I products are offered to the customer. The company insisted that dealers know a vehicle service contract is a sound purchase that will help protect that ... [Read More]
Top 9 regulatory priorities at the CFPB
Monday, Feb. 29, 2016, 04:40 PM
SubPrime Auto Finance News Staff
The chief of staff at the Consumer Financial Protection Bureau recently spelled out nine priority goals the regulator intends to work toward during the next two years. While listed alphabetically, the first three mentioned by Chris D’Angelo certainly could be ... [Read More]
Total Q4 auto charge-offs at banks eclipse $1B
Monday, Feb. 29, 2016, 04:38 PM
SubPrime Auto Finance News Staff
For the first time according to the data that goes back to the first quarter of 2011 provided by the Federal Deposit Insurance Corp. (FDIC), commercial banks that participate in auto financing saw their quarterly charge-off amount surpass $1 billion. ... [Read More]
Credit Acceptance finalizes $385M asset-backed financing
Monday, Feb. 29, 2016, 04:36 PM
SubPrime Auto Finance News Staff
Credit Acceptance Corp. recently completed $385.0 million in asset-backed non-recourse secured financing. Pursuant to this transaction, Credit Acceptance contributed loans having a net book value of approximately $481.4 million to a wholly-owned special purpose entity that will pledge the loans ... [Read More]
CreditMiner hires former dealer, Equifax exec as VP
Monday, Feb. 29, 2016, 04:34 PM
SubPrime Auto Finance News Staff
CreditMiner, the solution provider that pre-qualifies and pre-screens consumers on Experian, TransUnion and Equifax credit bureau platforms, recently added a former Equifax executive to its leadership team. Garth Cappy, former director of dealer enterprise relationships for Equifax, joined the CreditMiner ... [Read More]
6 factors to drive new executive search
Friday, Feb. 26, 2016, 05:18 PM
SubPrime Auto Finance News Staff
It’s a scenario perhaps not too uncommon to many finance company executives. They determined one of their key employees is incapable or unwilling to succeed with the company. To illustrate why it’s important to focus on six root factors that ... [Read More]
Dominion’s My Payment solution geared to enhance dealer websites
Friday, Feb. 26, 2016, 05:14 PM
SubPrime Auto Finance News Staff
This week, Dominion Dealer Solutions introduced what it’s calling My Payment for dealerships nationwide. Dominion’s My Payment is a suite of tools designed to drive more leads from dealership websites by giving shoppers “real answers” to their payment questions. The ... [Read More]
Former ACA, Wells Fargo exec joins SAFCO
Friday, Feb. 26, 2016, 05:11 PM
SubPrime Auto Finance News Staff
Southern Auto Finance Co. recently appointed Chris Shelley as vice president of collections at the subprime auto finance company’s collections center located in Orlando, Fla. Shelley has more than 19 years of progressive leadership experience in operations and collections, “and ... [Read More]