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
CarBiz Expands in Midwest
Tuesday, Dec. 4, 2007, 12:00 AM
Nick Zulovich
SARASOTA, Fla. — CarBiz has continued to grow over the past month, as the company recently added six stores in Illinois, officials indicated. The facilities are located in East Peoria, Moline, Loves Park, Rockfor, Pekin and DeKalb, the company stated. In ... [Read More]
Fiserv Automotive Teams Up with Carleton for Compliance Software
Thursday, Nov. 29, 2007, 12:00 AM
Nick Zulovich
BROOKFIELD, Wis. — Fiserv announced earlier this week that it is embedding Carleton's SmartCalcs financial compliance software into its Automotive Solution's Loan Origination System. Adding SmartCalcs directly into the Fiserv LOS automates rate calculations, validates state usury law compliance and keeps ... [Read More]
NowAuto Reports Challenges as it Looks to be Acquired
Thursday, Nov. 29, 2007, 12:00 AM
Nick Zulovich
TEMPE, Ariz. — NowAuto Group recently reported results for its fiscal first quarter, saying that a change from sales to leases impacted results, as some of the lease revenue is deferred. More specifically, the company indicated that it earned $1.1 million ... [Read More]
Leedom Announces Dates for BHPH Credit, Collections Conference
Thursday, Nov. 29, 2007, 12:00 AM
Nick Zulovich
SARASOTA, Fla. — Leedom and Associates its third Buy-Here, Pay-Here Credit and Collections Conference will held May 28 to 29 in Dallas, Texas. According to Chuck Bonanno, conference chairman, the event will focus on how to underwrite successful buy-here, pay-here contracts; ... [Read More]
GDEXAuto Prepares to Go Live to Help Both Dealers and Financial Institutions
Thursday, Nov. 29, 2007, 12:00 AM
Nick Zulovich
ALAMO, Calif. — Global Debt Exchange Automotive is preparing to go live in early January of next year. What exactly does the site do? Well, it was created to offer a new marketplace where independent and buy-here, pay-here dealers can go ... [Read More]
CNW Reveals the Largest Percentage of Used Shoppers Turn to Older Units
Tuesday, Nov. 27, 2007, 12:00 AM
Nick Zulovich
BANDON, Ore. — The latest data from CNW Research indicates that 67.6 percent of used shoppers are looking to purchase units five years old or older. Overall, the largest percentage of used shoppers is honing in on the eight- to 12-year-old category ... [Read More]
DealerTrack Hits 450 Finance Sources
Tuesday, Nov. 27, 2007, 12:00 AM
Nick Zulovich
LAKE SUCCESS, N.Y. — DealerTrack announced Monday that the number of active financing sources connected to its network has reached 450. In addition to the 450 financing sources on the DealerTrack network, the company indicated that about 90 percent of franchised ... [Read More]
CBA Schedules Auto Finance Conference
Tuesday, Nov. 27, 2007, 12:00 AM
Nick Zulovich
ARLINGTON, Va. — The Consumer Bankers Association will host its 2008 National Automobile Finance Conference & Tradeshow March 30 to April 1 at the Hilton San Francisco in California. "For over 20 years CBA's automobile finance conference and tradeshow has been ... [Read More]
CPS Renews Senior Credit Facility
Tuesday, Nov. 27, 2007, 12:00 AM
Nick Zulovich
IRVINE, Calif. — Portfolio Services recently announced that it has renewed one of its $200 million senior revolving warehouse credit facilities for a year. The company said it has $400 million in total senior warehouse capacity. "We are pleased with the ... [Read More]
Tom Hudson Offers Special Finance (Legal) Tips and Insights
Tuesday, Nov. 20, 2007, 12:00 AM
Nick Zulovich
HANOVER, Md. — This issue's theme is "Special Finance Tips and Insights." Since I do the legal stuff, you'll note the amended title to this article. Insights first: 1. From a legal standpoint, a dealer's contract and related documents (I'm ... [Read More]