5 components of Treasury Department’s National Strategy for Financial Inclusion
Wednesday, Nov. 6, 2024, 11:10 AM
Experts give auto-finance outlook after another Fed rate cut & Trump election victory
Friday, Nov. 8, 2024, 11:13 AM
Results & recommendations from federal audit of CFPB’s information security program
Thursday, Nov. 7, 2024, 10:49 AM
VINtek Can Help Lenders Gain Current LTV Measurements
Tuesday, Dec. 9, 2008, 12:00 AM
Nick Zulovich
PHILADELPHIA — VINtek, a provider of automotive collateral management services and direct auto finance solutions for banks, credit unions and other automotive finance lenders, announced an increase in demand for its AUTOval portfolio optimization analysis. Apparently, more auto lenders seeking to determine ... [Read More]
GMAC Canada Discusses Impact of Tighter U.S. Credit Markets, More
Thursday, Dec. 4, 2008, 12:00 AM
Nick Zulovich
TORONTO — As parent company GMAC Financial services applies to become a U.S. bank holding company, GMAC of Canada discussed how this move could impact the Canadian industry in a positive way and also shared possible initiatives it may take to hurdle ... [Read More]
J.D. Power Ranks Lenders by Consumer Satisfaction
Thursday, Dec. 4, 2008, 12:00 AM
Nick Zulovich
WESTLAKE VILLAGE, Calif. — Releasing its 2008 Consumer Financing Satisfaction study today, J.D. Power and Associates reported that two import financial arms and one domestic captive took top honors in the various segments analyzed. More specifically, BMW Financial Services, Ford Credit and ... [Read More]
ABI: Bankruptcy Filings Down a Bit from October
Thursday, Dec. 4, 2008, 12:00 AM
Nick Zulovich
ALEXANDRIA, Va. — Overall, according to the American Bankruptcy Institute, bankruptcy filings dipped slightly from October; however, they remained up 39.2 percent in November over the same period in 2007. Relying on data from the National Bankruptcy Research Center, ABI reported ... [Read More]
AWARE: Military Members More Prepared, Satisfied with Auto Financing Process
Thursday, Dec. 4, 2008, 12:00 AM
Nick Zulovich
WASHINGTON, D.C. — Military members know the value of preparation, and they use that knowledge when financing a vehicle, which generally leads to higher satisfaction, according to a recent survey by Americans Well-informed on Automobile Retailing Economics. Apparently, military members lead ... [Read More]
OnlineBKmanager.com Upgrades Marketing System
Tuesday, Dec. 2, 2008, 12:00 AM
Nick Zulovich
PHOENIX — OnlineBKmanager.com announced a major overhaul of its Web-based marketing system this week. "Due to the current subprime automotive lending environment, BK marketing is more valuable than ever," said Robert Davies, president of www.OnlineBKmanager.com. "We have hundreds of dealers logging ... [Read More]
Reaction Mixed to Treasury’s TALF Program
Tuesday, Dec. 2, 2008, 12:00 AM
Nick Zulovich
NEW YORK — According to U.S. Structured Finance, initial market reaction to the U.S. Treasury's recently introduced TALF program is mixed. Basically, one of the goals of this new program is to make auto loans more available for consumers. "While some ... [Read More]
Subprime Credit Loss Analysis Can Show You the Money
Tuesday, Dec. 2, 2008, 12:00 AM
Nick Zulovich
HOUSTON — During the last year the credit markets have tightened significantly for the subprime industry. This contraction of capital threatens the ability of many buy-here, pay-here dealers to continue in business. Without capital, BHPH dealers can't grow or even replace ... [Read More]
Major Lender Halts Auto Financing in Canada
Tuesday, Dec. 2, 2008, 12:00 AM
Nick Zulovich
SAN FRANCISCO — Wells Fargo Auto Finance has decided to pull out of the Canadian auto finance industry, effective immediately, SubPrime Auto Finance News' sister e-publication, Auto Remarketing Canada recently discovered. "Wells Fargo Auto Finance announced to dealers on Nov. 12 that, ... [Read More]
RouteOne Expands Red Flags Assistance for Dealers
Tuesday, Nov. 25, 2008, 12:00 AM
Nick Zulovich
FARMINGTON HILLS, Mich. — RouteOne recently announced that it has formed an alliance with Colorado-based Triple Protection Auto Care to provide dealers an extensive Red Flags compliance and information security program. Tri-PAC's services complement RouteOne's Identify Verification and Authentication tool, powered by ... [Read More]