Former United Auto Credit & Westlake executive becomes SAFCO’s new chief risk officer
Tuesday, Nov. 26, 2024, 11:21 AM
Cox Automotive sells off another F&I tool as Vitu to acquire Dealertrack’s titling division
Monday, Nov. 25, 2024, 11:39 AM
CFPB examines carveouts in state data privacy laws for financial institutions
Monday, Nov. 25, 2024, 12:03 PM
AutoPayPlus expands headquarters to accommodate growing staff
Wednesday, Oct. 26, 2022, 02:59 PM
SubPrime Auto Finance News Staff
Prompted by record staff growth that is expected to reach 30% year-over-year in 2022, AutoPayPlus by US Equity Advantage recently expanded its corporate headquarters in Orlando, Fla., by 20%. Last year, the provider of automated biweekly and early payoff services ... [Read More]
Comerica, KBRA & Fitch on delinquencies, inflation & recession
Tuesday, Oct. 25, 2022, 02:42 PM
Nick Zulovich, Senior Editor
If you were looking for upbeat news about auto finance payment performance or the economy in general, Kroll Bond Rating Agency (KBRA), Fitch Ratings and Comerica Bank didn’t have too much to offer last week. While Fitch shared its expectations ... [Read More]
Dissent over FTC action against dealer group questions ‘unfairness jurisdiction’
Monday, Oct. 24, 2022, 02:37 PM
SubPrime Auto Finance News Staff
Perhaps dealerships and other segments of the auto finance and retail spaces can take solace in the dissenting statement from one of the former leaders of the Federal Trade Commission, which ordered a Washington, D.C.-area dealer group to pay more ... [Read More]
CPS sees PayNearMe payment technology ‘like gold’
Friday, Oct. 21, 2022, 02:24 PM
SubPrime Auto Finance News Staff
This week, Consumer Portfolio Services announced that it named PayNearMe as its primary payments partner, saying the service provider’s technology “is like gold.” According to a news release, this partnership will accelerate the finance company’s digital transformation and deliver a ... [Read More]
Open Lending partners with America First Credit Union
Friday, Oct. 21, 2022, 02:20 PM
SubPrime Auto Finance News Staff
Open Lending announced this week it is partnering with one of the nation’s largest credit unions, America First Credit Union (AFCU), which now will offer indirect auto financing services through Open Lending’s Lenders Protection program. The companies said their alliance ... [Read More]
PODCAST: Path dealerships can take to leverage refinancing
Thursday, Oct. 20, 2022, 01:36 PM
SubPrime Auto Finance News Staff
As experts from firms such as Edmunds have discovered, many consumers are committing to a monthly vehicle payment of $1,000 or more. Becky Chernek of Chernek Consulting made her monthly visit for the Auto Remarketing Podcast to go over the value ... [Read More]
PODCAST: TransUnion study on current delinquencies & implications for finance companies
Wednesday, Oct. 19, 2022, 03:40 PM
SubPrime Auto Finance News Staff
The newest TransUnion study reinforced where a monthly vehicle payment lands in the family budget pecking order. Analysts explained that lower inventories, higher prices and reduced demand, among other factors, are central to some of the changing dynamics in the ... [Read More]
Auto defaults hold steady in September
Tuesday, Oct. 18, 2022, 01:58 PM
SubPrime Auto Finance News Staff
For the first time in almost two years, auto defaults stayed at the same level for consecutive months. On Tuesday, S&P Dow Jones Indices and Experian released data through September for the S&P/Experian Consumer Credit Default Indices, and the auto ... [Read More]
S&P Global Ratings sees subprime losses near pre-pandemic readings
Monday, Oct. 17, 2022, 02:35 PM
SubPrime Auto Finance News Staff
At least one part of the subprime auto finance market is starting to resemble what the landscape was before the pandemic. S&P Global Ratings published a report last week highlighted the U.S. auto ABS sector’s performance for August, noting that ... [Read More]
JM&A Group elevates Gunnell, announces future role for Casey
Friday, Oct. 14, 2022, 03:10 PM
SubPrime Auto Finance News Staff
JM&A Group president Dan Chait recently announced a pair of executive leadership changes. According to a news release distributed this week, the F&I subsidiary of JM Family Enterprises promoted Scott Gunnell to senior vice president and chief operating officer, while ... [Read More]