SubPrime Auto Finance News Staff

Last week, Consumer Portfolio Services announced the closing of its first term securitization of 2018.  Officials highlighted the transaction is CPS’ 27th senior subordinate securitization since the beginning of 2011 and the 10th consecutive securitization to receive a triple “A” rating on the... Read More

SubPrime Auto Finance News Staff

The management team at defi SOLUTIONS now has a sizeable amount of resources to deploy an aggressive growth plan. On Friday, defi SOLUTIONS announced it has raised $55 million in a Series C investment from Bain Capital Ventures. Executives highlighted the investment is comprised of primary and secondary capital.... Read More

SubPrime Auto Finance News Staff

The National Automotive Finance Association is teaming with Hudson Cook and Compli for a free webinar in an effort to answer some questions likely on the minds of leaders at dealerships and finance companies. A trio of experts is looking to project how fair lending issues may be handled during the second year of the... Read More

Nick Zulovich, Senior Editor

While a consumer advocate in a note to SubPrime Auto Finance News called the action “an insane development,” industry representatives cheered the request by the acting director of the Consumer Financial Protection Bureau for evidence of the regulator’s effectiveness. On Wednesday, the bureau announced... Read More

SubPrime Auto Finance News Staff

MBSi Corp. welcomed a top executive from another firm in the recovery industry to its company team this week. MBSi, one of the loyal sponsors of Used Car Week and a leading provider of repossession assignment software and vendor compliance solutions, announced that John Fountaine has joined the MBSi team as director of... Read More

SubPrime Auto Finance News Staff

White Clarke Group recently bolstered its North American workforce. The global provider of full lifecycle loan origination, servicing, collections and floorplan finance technology announced Heather Slyman has joined the firm as vice president of business development for North America. Executives highlighted the... Read More

SubPrime Auto Finance News Staff

An important component in subprime auto finance underwriting is gauging the potential contract holder’s ability to make installment payments. LAUNCHER.SOLUTIONS and Equifax are teaming up to help finance companies with that stipulation. This week Equifax and LAUNCHER.SOLUTIONS, a technology provider... Read More

Auto defaults close 2017 on stable track

SubPrime Auto Finance News Staff

For the fourth time in the past seven years, the auto portion of the S&P/Experian Consumer Credit Default Indices closed the calendar with the default rate holding steady or ticking a bit lower on a sequential basis. S&P Dow Jones Indices and Experian reported on Tuesday that December’s auto loan default... Read More