GM Financial Can Access Parent’s $12.5B Credit Facility
Monday, Oct. 20, 2014, 03:41 PM
SubPrime Auto Finance News Staff
About a month after General Motors and General Motors Financial worked out a credit accessibility deal to help the finance company expand its portfolio, the parent automaker executed a revolving credit facility that could help the finance company, too. Late ... [Read More]
White Clarke Group: Still More Pent-Up Demand for Leasing
Monday, Oct. 20, 2014, 03:33 PM
Brendan Gleeson, White Clarke Group
The U.S. may at last be pulling out of recession. But there are still headwinds, not least of which emanate from Washington, D.C., as the seemingly intractable gridlock in Congress is doing nothing to reduce uncertainty in the domestic markets. ... [Read More]
SubPrime Auto Finance Executive of the Year Winner Named
Monday, Oct. 20, 2014, 03:27 PM
Nick Zulovich, Editor
SubPrime Auto Finance News has revealed the recipient of this year’s SubPrime Auto Finance Executive of the Year award, an honor sponsored by Black Book Lender Solutions. The accolade is going to Ian Anderson, president of Westlake Financial Services, which ... [Read More]
US Treasury Sells Another 11.2M Shares of Ally Stock
Friday, Oct. 17, 2014, 03:59 PM
SubPrime Auto Finance News Staff
As Ally Financial declared quarterly dividend payments for certain outstanding preferred stock holders, the U.S. Department of the Treasury announced the completion of its second pre-defined written trading plan for Ally Financial common stock. Treasury officials on Friday said they ... [Read More]
With Delinquencies Up, Auto ABS Performance Softens in September
Friday, Oct. 17, 2014, 03:56 PM
SubPrime Auto Finance News Staff
Leaves are falling and so is the performance of the auto ABS market, but it’s not a “cause for alarm.” Fitch Ratings indicated that the typically slower fall season is leading to higher losses for both prime and subprime U.S. ... [Read More]
5 Reasons Why Credit Scores Don’t Give Whole Picture
Friday, Oct. 17, 2014, 03:53 PM
SubPrime Auto Finance News Staff
The newest white paper from Equifax highlighted five reasons why credit scores might not be most accurate or comprehensive way to access a borrower’s qualifications — especially in subprime. Those reasons included: — Credit scores reflect only a portion of ... [Read More]
EFG Companies & NAMAD Create Northwood University Scholarship
Wednesday, Oct. 15, 2014, 03:33 PM
SubPrime Auto Finance News Staff
This week, EFG Companies and the National Association of Minority Automobile Dealers established an annual, private donor scholarship that will fund the four-year tuition of a minority student attending the automotive marketing and management program at Northwood University. Officials highlighted ... [Read More]
Exeter Details $500M Securitization
Wednesday, Oct. 15, 2014, 03:22 PM
SubPrime Auto Finance News Staff
Exeter Finance Corp. announced this week the pricing of a $500 million securitization backed by auto loan receivables. The company indicated the private offering consisted of four classes of fixed rate notes issued by Exeter Auto Receivables Trust 2014-3 and ... [Read More]
CPS Revenue & Earnings Jump More Than 20% in Q3
Wednesday, Oct. 15, 2014, 03:21 PM
SubPrime Auto Finance News Staff
Consumer Portfolio Services posted gains of more than 20 percent in both earnings per diluted share and revenue during the third quarter. The finance company bought more paper in Q3 compared to previous time frames and watched delinquencies and charge-offs ... [Read More]
Refuting Subprime Auto ‘Bubble’ Talk That Keeps Surfacing
Monday, Oct. 13, 2014, 03:52 PM
Joe Overby, Staff Writer
If you set your automated news alerts or RSS feed to “subprime” or “subprime auto finance,” you’re likely to find news stories that fit in one of two camps: A) subprime auto financing is heading down a dangerous path akin ... [Read More]