DALLAS — Santander Consumer USA announced today that it will purchase $3.2 billion of CitiFinancial Auto's loan portfolio. Moreover, Santander has also agreed to service a portfolio of approximately $7.2 billion of auto loans that will be held onto by Citi. ... [Read More]

LOS ANGELES — Executives from 1-800-LoanMart, a direct financer title loan company, recently announced they've recruited one of the most famous performers from the sports entertainment world to be featured in upcoming promotions. Professional wrestler and 12-time world heavyweight champion better ... [Read More]

BANDON, Ore. — Many captives pulled out of the leasing waters when the economy soured in 2008 and 2009, meaning that only consumers with stellar credit records could get a lease deal from the few remaining players. However, the winds are ... [Read More]

SOUTHFIELD, Mich. — Along with an update on a revolving secured warehouse facility and a tender stock offer, Credit Acceptance Corp. shared specifics about significant growth in consumer loan unit volume and value amounts for the recent two- and five-month spans. ... [Read More]

IRVING, Texas — Exeter Finance Corp. recently announced that it has a new chief executive officer and vice chairman. Taking on this role is Mark Floyd. Floyd has a long history with Exeter's founders, which include Sam Ellis, Richard Frunzi, Daniel ... [Read More]

SAN DIEGO — National loan servicer First Associates recently tapped a veteran with more than 20 years of industry experience to be its executive vice president and equity partner. Taking on this role is Laurence Chiavaro, who has been charged by ... [Read More]

RICHMOND, Va. — CarMax doubled the amount of rooftops it has in Ohio this week. The company already operated two facilities in the state capital, Columbus, but now showrooms are up and running in both Cincinnati and Dayton. The new Cincinnati ... [Read More]

NEW YORK — According to Fitch Ratings delinquencies and losses on prime auto loan asset-backed securities hit their lowest levels in May since the summer of 2007. However, officials cautioned that this trend was "mainly due to seasonal factors." In fact, ... [Read More]

FORT WORTH, Texas — At the recent Below-Prime Credit Auto Financing Conference, Dan Berce, president and chief executive officer of AmeriCredit, described how his company survived what many have called another "Great Depression." AmeriCredit's management team started to see the capital ... [Read More]

SCHAUMBURG, Ill. — Experian Automotive reviewed first-quarter data regarding open auto loans and found the better the credit standing, the more growth there has been as compared to the first quarter of 2009. In fact, Experian indicated the only growth came ... [Read More]