NextGear Capital Closes $433M Securitization
Monday, Nov. 17, 2014, 04:34 PM
SubPrime Auto Finance News Staff
NextGear Capital recently announced that NextGear Floorplan Master Owner Trust successfully completed the sale of $433.333 million of privately placed 144A Asset-Backed Notes, Series 2014-1. Rated by Moody's and DBRS, the securitization transaction included the issuance of $400 million of ... [Read More]
Westlake Adding Dallas Facility, Former Toyota Exec
Monday, Nov. 17, 2014, 04:32 PM
SubPrime Auto Finance News Staff
Along with expanding its senior executive team, Westlake Financial Services recently highlighted plans to open a new production center in Dallas in January. Westlake indicated the new production center will serve as a facility to provide improved servicing for current ... [Read More]
94 Graduates Complete Consumer Credit Compliance Program
Monday, Nov. 17, 2014, 04:24 PM
SubPrime Auto Finance News Staff
At the same venue as Used Car Week, the National Automotive Finance Association awarded its Certified Consumer Credit Compliance Professional designation to its first graduating class following the completion of more than 24 hours of classroom training and 29 Web-based ... [Read More]
New VP Named at defi SOLUTIONS
Friday, Nov. 14, 2014, 04:12 PM
SubPrime Auto Finance News Staff
Loan origination software company defi SOLUTIONS announced this week the appointment of a new vice president of sales. Brice Beard brings over 15 years of auto finance experience with him to take on the responsibilities of the new position, one ... [Read More]
Chernek: Cracking the Code in Subprime Financing
Friday, Nov. 14, 2014, 03:00 PM
Rebecca Chernek, Chernek Consulting
How far over the line will you go to sell cars and make a profit before you break the compliance threshold? That’s almost like asking how far over the speed limit you’re willing to go before you consider the consequences ... [Read More]
Dealertrack Reaches Milestone For Credit Application Network
Thursday, Nov. 13, 2014, 09:08 PM
SubPrime Auto Finance News Staff
News has been flowing out of Dealertrack Technologies this week, as the company announced it has hit a milestone for its Credit Application Network on top of also securing a new partnership with Kia Motors America to use its Intelligent ... [Read More]
SubPrime Webinar Series Returns Next Wednesday
Wednesday, Nov. 12, 2014, 04:20 PM
SubPrime Auto Finance News Staff
Interested in honing your ability to securely locate, recover and communicate with your portfolio of leased and financed vehicles? In real time? Tune in to the latest SubPrime Auto Finance News webinar, on Wed., Nov. 19 at 2 p.m., where ... [Read More]
Survey Shows Auto Loans as Top Growth Opportunity For Credit Unions
Wednesday, Nov. 12, 2014, 02:30 PM
Sarah Rubenoff, Staff Writer
With the new- and used-car market booming, it seems subprime buyers are getting a piece of the pie — and many of these consumers are using credit unions to fund these vehicle purchases. TransUnion released the results of an October ... [Read More]
How Enhanced Verifications Boost Subprime Loan Performance
Monday, Nov. 10, 2014, 05:00 PM
Jennifer Reid, Equifax
When it comes to successfully selling a vehicle and getting it financed, particularly for subprime borrowers, dealers and automotive finance companies should heed the advice of former President Reagan and “Trust, but verify.” What we are seeing in the market, ... [Read More]
Toyota Financial Exec Awarded by AFSA
Monday, Nov. 10, 2014, 04:50 PM
SubPrime Auto Finance News Staff
Toyota Financial Services’ own Ann Bybee was honored with the Distinguished Service Award (DSA) by the American Financial Services Association at the AFSA’s 98th Annual Meeting in Los Angeles at the end of October. Bybee, the company’s vice president of ... [Read More]