What Many Don’t Know About Credit Score Reporting
Wednesday, Nov. 5, 2014, 04:30 PM
SubPrime Auto Finance News Staff
There’s an incorrect assumption that many Americans — and potentially your customers and other auto-related consumers — are making when it comes to their credit score standing. In results of its national survey of renters revealing “widespread confusion” about what is ... [Read More]
Automotive Credit joins Wolters Kluwer Financial Services’ AppOne Platform
Monday, Nov. 3, 2014, 04:44 PM
SubPrime Auto Finance News Staff
Wolters Kluwer Financial Services announced Monday that Automotive Credit Corp., a Midwest-based provider of subprime financing solutions, joined the AppOne platform. The companies explained AppOne can help to automate the credit approval and compliance processes for finance companies and the ... [Read More]
OneSource Financial Adds Former US Bank Exec as Vice President
Monday, Nov. 3, 2014, 04:41 PM
SubPrime Auto Finance News Staff
A former executive at US Bank, Coastal Credit and Security National Automotive Acceptance Corp. (SNAAC) recently joined New-York based OneSource Financial as vice president of sales and business development. Taking on this role for OneSource Financial is Ben Hensley, who ... [Read More]
Ally Used Originations Set New Record at $3.2B
Monday, Nov. 3, 2014, 04:37 PM
SubPrime Auto Finance News Staff
Along with acknowledging a document request from the Securities and Exchange Commission, Ally Financial reported a new record for used-vehicle originations as the company generated $3.2 billion in used paper during the third quarter. The performance marked two quarters in ... [Read More]
CFPB to Hold Another Field Hearing; Topic Unknown
Friday, Oct. 31, 2014, 03:33 PM
SubPrime Auto Finance News Staff
The Consumer Financial Protection Bureau is hosting another field hearing, but the agency hasn’t yet shared what topic it will be discussing. CFPB officials did indicate the event will be on Nov. 13 in Wilmington, Del. They added the hearing ... [Read More]
BillingTree to Highlight Collection Compliance in Next Free Webinar
Friday, Oct. 31, 2014, 03:24 PM
SubPrime Auto Finance News Staff
BillingTree announced the next webinar in its series titled, Payment & Technology Spotlight Series — Technology and Innovation for the Digital Age. With the upcoming segment putting the spotlight on compliance, BillingTree highlighted the free session will feature a virtual ... [Read More]
Subprime Financing Up 18% So Far in October
Friday, Oct. 31, 2014, 03:21 PM
SubPrime Auto Finance News Staff
Along with some explanation about conflicting economic trends, CNW Research highlighted the healthy year-over-year gain in subprime financing the industry has posted this month. According to the firm’s latest Retail Automotive Summary, CNW indicated the amount of completed contracts connected ... [Read More]
AFSA Names TD Auto Finance Executive as Chair
Wednesday, Oct. 29, 2014, 03:55 PM
SubPrime Auto Finance News Staff
The American Financial Services Association installed TD Auto Finance president and chief executive officer Andrew Stuart as its chair for 2014-2015 during the association’s 98th annual meeting this week in Los Angeles. During his one-year term, Stuart will preside over ... [Read More]
GM Financial Originations Climb for 4th Quarter in a Row
Wednesday, Oct. 29, 2014, 03:49 PM
SubPrime Auto Finance News Staff
Along with acknowledging the reception of additional investigative subpoenas, General Motors Financial posted across the board growth in North American loan originations during the third quarter, thanks in part to a prime financing program that rolls out fully to the ... [Read More]
12% Climb in Bank Charge-Offs Has OCC Concerned
Wednesday, Oct. 29, 2014, 03:47 PM
SubPrime Auto Finance News Staff
It’s not necessarily the volume of auto loans that commercial banks are generating that has the Office of the Comptroller of the Currency (OCC) troubled. It’s the volume of paper that has defaulted and been charged off that has bank ... [Read More]